Ecosystem Credit and Payment Stacking: Overview

Reference work entry

Abstract

Environmental credit markets have been established as a mechanism to offset wetland impacts in some jurisdictions with a well-developed regulatory program. In the USA, for example, wetland mitigation banking contemplates that a private entity may engage in a wetland restoration project, thereby producing wetland credits; these credits can then be sold to a developer, which will use them to satisfy its legal obligations to provide offsets. Similar environmental markets or offset regimes have been implemented or are in development with respect to endangered species habitat, water quality, and carbon sequestration. Accordingly, a single restoration project may have the potential to produce multiple types of environmental credits. These credits, arising from a spatially overlapping area, are often referred to as stacked credits . Although a properly designed credit stacking regime could induce greater investment in conservation actions, significant ecological concerns remain.

Keywords

Additionality Mitigation Bank Offsets Stacked credits 

References

  1. Cooley D, Olander L. Stacking ecosystem services payments: risks and solutions. Environ Law Report. 2012;42(2):10150–65.Google Scholar
  2. Fox J, Gardner R, Maki T. Stacking opportunities and risks in environmental credit markets. Environ Law Report. 2011;41(2):10121–5.Google Scholar
  3. Gardner R. Lawyers, swamps, and money: US wetland law, policy, and politics. Washington, DC: Island Press; 2011.CrossRefGoogle Scholar
  4. Gardner R, Fox J. The egal status of environmental credit stacking. Ecol Law Q. 2013;40(4):713–57.Google Scholar
  5. Gillenwater M. What is additionality? Part 3: implications for stacking and unbundling. Discussion Paper No. 003, Greenhouse Gas Management Institute, Silver Spring. 2012.Google Scholar
  6. Robertson M, Bendor TK, Lave R, Riggsbee A, Ruhl JB, Doyle M. Stacking ecosystem services. Front Ecol Environ. 2014. doi:10.1890/110292.CrossRefGoogle Scholar

Copyright information

© Springer Science+Business Media B.V., part of Springer Nature 2018

Authors and Affiliations

  1. 1.Institute for Biodiversity Law and PolicyStetson University College of LawGulfportUSA
  2. 2.Institute for Land, Water and Society, Charles Sturt UniversityAlburyAustralia
  3. 3.UNESCO-IHEDelftThe Netherlands

Personalised recommendations