Valuation and Crediting Approaches for Transportation and Metropolitan Planning Agencies

Abstract

Measurement and crediting tools for ecosystem services are important to the processes of transportation planning and project implementation because these tools can aid in mitigating environmental impacts by reducing transaction costs, improving environmental outcomes, and shortening the time needed to implement projects. Because of this importance, such tools have been identified as a key step in the Eco-Logical framework to integrate transportation and conservation planning, characterized by a SHRP 2 capacity program study as the Integrated Ecological Framework. Currently, throughout much of the United States, there are no straightforward methods for the creation of transportation-centric crediting programs. However, successful programs in California, North Carolina, Oregon, and Washington have developed approaches cooperatively with regulatory agencies, state and nongovernmental conservation programs, those actively involved in mitigation banking, and agencies or organizations that fund restoration activities. An overview of crediting systems and valuation methods and their use at various scales in transportation planning are presented in this paper. Current projects and programs are evaluated to identify the opportunities and the obstacles that transportation organizations may encounter when attempting to implement a crediting program.