Quantify Ecosystem
Value ECOSYSTEM ACCOUNTING PROTOCOL
Purchase Credits
Ecosystem Accounting Protocol
Increasing the Effectiveness of Investments in the
Environment
March 2013
Version 0.9
Report Improvements
Adaptively Manage
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GOAL
The goal of the Ecosystem Accounting Protocol is to define the operations of ecosystem accounting
programs over time, including outlining the process steps, roles and timing of actions to generate, track
and transfer credits. The Ecosystem Accounting Protocol provides consistency across environmental
accounting programs to:



Quantify and verify credits from individual project sites, including fulfilling ongoing verification
requirements.
Obtain credits and use them in project selection decisions and reporting of effectiveness.
Systematically evaluate new information, report results and improve the accuracy and efficiency
of programs and associated quantification tools over time.
CON TACTS
The following organizations will provide technical assistance to users encountering difficulties with the
use of the Ecosystem Accounting Protocol.
David Wolfe, Texas Regional
Wildlife Director
Environmental Defense Fund
301 Congress Avenue, Suite 1300
Austin, TX 78701
(512) 691-3415
dwolfe@edf.org
Jeremy Sokulsky, President
Environmental Incentives, LLC
3351 Lake Tahoe Blvd, Ste. 2
South Lake Tahoe, CA 96150
(530) 541-2980
jsokulsky@enviroincentives.com
Open Content License
The Ecosystem Accounting Protocol is derived from approaches
developed by the Willamette Partnership, Environmental
Incentives, LLC, and Environmental Defense Fund. We have
developed all of our protocols, quantification tools, and
associated products with an eye toward transparency and easy
extension to address multiple environmental issues and
geographic regions. As such, permission to use, copy, modify
and distribute this publication and its referenced documents for
any purpose and without fee is hereby granted, provided that
the following acknowledgement notice appears in all copies or
modified versions: “This content was created in part through the
adaptation of procedures and publications developed by
Willamette Partnership, Environmental Incentives, and
Environmental Defense Fund but is not the responsibility or
property of any one of these entities.”
Bobby Cochran, Executive Director
Willamette Partnership
2550 SW Hillsboro Highway
Hillsboro, OR 97123
(503) 681-5112
cochran@willamettepartnership.com
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TABLE OF CONTENTS
PROTOCOL ORGANIZATION & USER GUIDANCE ...................................................................... 1
ECOSYSTEM ACCOUNTING TOOLS AND TEMPLATES ........................................................................... 1
1.
INTRODUCTION .................................................................................................................. 5
GUIDING PRINCIPLES ............................................................................................................................ 5
BASIC FEATURES .................................................................................................................................... 5
KEY ROLES OF PROGRAM PARTICIPANTS ............................................................................................. 5
2. GENERATING ECOSYSTEM CREDITS ........................................................................................ 9
D1 SELECT & VALIDATE PROJECT SITE ................................................................................................. 10
D1.1 INDICATE INITIAL INTEREST & INITIATE COMMUNICATION ....................................................... 10
D1.2 SELECT PROJECT SITE ................................................................................................................... 10
D1.3 OPEN ACCOUNT & ADD PROJECT............................................................................................ 10
D1.4 SUBMIT PROJECT VALIDATION CHECKLIST ................................................................................ 10
D1.5 VALIDATE & IDENTIFY CONSERVATION OPPORTUNITY ............................................................ 11
D2 IMPLEMENT PROJECT & CALCULATE BENEFIT ................................................................................ 11
D2.1 DEFINE & SUBMIT PROJECT BASELINE ........................................................................................ 11
D2.2 DEFINE & SUBMIT PROJECT DESIGN INFORMATION................................................................. 12
D2.3 IMPLEMENT PROJECT, REFINE CALCULATIONS & SUBMIT ....................................................... 14
D3 VERIFY CONDITIONS ...................................................................................................................... 15
D3.1 SELECT VERIFIER ............................................................................................................................ 15
D3.2 PERFORM ONGOING PROJECT MAINTENANCE AND MONITORING ................................... 15
D3.3 PROJECT VERIFICATION .............................................................................................................. 16
D3.4 PROJECT CERTIFICATION (IF NECESSARY) ................................................................................ 17
D4 REGISTER PROJECT & ISSUE CREDITS ............................................................................................. 17
D4.1 CREATE A REGISTRY ACCOUNT ................................................................................................. 17
D4.2 REGISTER PROJECT....................................................................................................................... 17
D4.3 ISSUE CREDITS ............................................................................................................................... 17
D5 TRACK & TRANSFER CREDITS .......................................................................................................... 18
D5.1 ALLOCATE CREDITS TO RESERVE AND NET BENEFIT ACCOUNTS............................................ 18
D5.2 SELL AND TRANSFER OR RETIRE CREDITS ................................................................................... 18
D5.3 REPORT OF ACCOMPLISHMENTS (OPTIONAL) ......................................................................... 18
3. ACQUIRING ECOSYSTEM CREDITS ....................................................................................... 21
B1 DEVELOP INVESTMENT GOAL & ACQUISITION STRATEGY ............................................................ 22
B1.1 INDICATE INITIAL INTEREST & INITIATE COMMUNICATION ....................................................... 22
B1.2 DEFINE BUYER STRATEGY .............................................................................................................. 22
B2 DETERMINE CREDIT NEED................................................................................................................ 23
B2.1 DETERMINE APPLICABLE GEOGRAPHY & PROJECT CHARACTERISTICS ................................ 23
B2.2 DETERMINE CREDIT AMOUNT (REGULATORY OFFSET BUYERS ONLY) ..................................... 24
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B3 ACQUIRE CREDITS .......................................................................................................................... 25
B3.1 CREATE A BUYER ACCOUNT ....................................................................................................... 25
B3.2 PURCHASE CREDITS ...................................................................................................................... 25
B4 TRACK & TRANSFER CREDITS .......................................................................................................... 26
B4.1 TRANSFER CREDITS ........................................................................................................................ 26
B4.2 REPORT ON ACCOMPLISHMENTS (OPTIONAL) ......................................................................... 26
4. MANAGING THE PROGRAM ................................................................................................. 29
A1 UPDATE PROTOCOL & TOOLS ........................................................................................................ 31
A1.1 UPDATE PROGRAM IMPROVEMENTS LIST ................................................................................. 31
A1.2 UPDATE EXISTING QUANTIFICATION TOOLS, FORMS AND TEMPLATES .................................. 32
A1.3 INTEGRATE NEW QUANTIFICATION TOOLS ............................................................................... 32
A2 PRIORITIZE INFORMATION NEEDS & GUIDE MONITORING ........................................................... 32
A2.1 DEVELOP & ADJUST LIST OF AREAS FOR INVESTIGATION ....................................................... 32
A2.2 PROVIDE INPUT TO RESEARCH & MONITORING FUNDING PROCESSES ................................ 33
A3 REPORT PROGRAM PERFORMANCE .............................................................................................. 33
A3.1 COMPILE CONTENT & PUBLISH PERFORMANCE REPORT ........................................................ 34
A4 SYNTHESIZE FINDINGS .................................................................................................................... 34
A4.1 COMPILE FINDINGS & DEVELOP SYNTHESIS OF FINDINGS REPORT ....................................... 34
A5 IDENTIFY & ADOPT PROGRAM IMPROVEMENT RECOMMENDATIONS......................................... 35
A5.1 PROPOSE PROGRAM IMPROVEMENT RECOMMENDATIONS ................................................ 35
A5.2 ADOPT PROGRAM IMPROVEMENTS .......................................................................................... 36
A5.3 OVERSEE PROGRAM OPERATIONS ............................................................................................ 36
A5.4 RESOLVE OUTSTANDING DISPUTES ............................................................................................. 37
A6 ENGAGE STAKEHOLDERS ............................................................................................................... 37
A6.1 MAINTAIN PROGRAM WEBSITE ................................................................................................... 37
A6.2 DISTRIBUTE UPDATE EMAILS ......................................................................................................... 37
A6.3 PRESENT AT COMMUNITY FORUMS ............................................................................................ 37
A6.4 CONDUCT TRAININGS ................................................................................................................. 37
A6.5 CONVENE ANNUAL STAKEHOLDER MEETING........................................................................... 38
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PROTOCOL ORGANIZATION & USER GUIDANCE
This section defines how different program participants use the Ecosystem Accounting Protocol, as well
as associated tools and forms, to quantify, track, transfer and report benefits from conservation and
restoration projects.
Section 1: Introduction provides a general description of the Ecosystem Accounting Protocol, including
its applicability to various situations and an overview of its basic components.
Section 2: Generating Ecosystem Credits describes the steps for estimating and verifying quantified
ecosystem credits from an individual project site, including fulfilling ongoing verification requirements.
These steps are primarily implemented by credit developers and thus are labeled D1 through D5.
Section 3: Acquiring Ecosystem Credits identifies the advantages of using an ecosystem accounting
program to inform project selection and investment decisions, and describes the steps for buyers to obtain
credits and use them in reporting. These steps are primarily implemented by buyers and thus are labeled
B1 through B3.
Section 4: Managing the Program describes the steps to systematically evaluate new information, report
results and improve environmental accounting programs. These steps are primarily implemented by
program administrators and thus are labeled A1 through A6.
ECOSYSTEM ACCOUNTING TOOLS AND TEMPLATES
The Ecosystem Accounting Protocol is a common set of steps employed by multiple ecosystem
accounting programs. This consistency ensures rigor and efficiency across programs. The Ecosystem
Accounting Protocol is accompanied by program-specific tools and templates, which outlines the locally
relevant context including specific policies, technical guidance and standards for each accounting
program. For more information, please refer to the Context and Scope document for the ecosystem
accounting program of interest.
Figure 0.1: Relationship of the Ecosystem Accounting Protocol to Local Program Elements
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Tools and templates enable efficiency and ensure consistency across projects within individual programs.
Automated web-based applications enable efficient transfer of data from participants to administrators,
and provide a centralized location to store documents necessary for the credit issuance process.
Ecosystem accounting programs typically use the following tools and templates:







Context and Scope documents define the specific ecosystem issues addressed and the credit
types available through an environmental accounting program, as well as the policy
considerations and participants engaged in a specific program. Any terminology differences
between this Environmental Accounting Protocol and an individual program will be outlined in
the Context and Scope document.
Program Website provides introductory materials, contact information, and basic forms for
program participants to indicate initial interest or provide program improvement
recommendations.
Quantification Tools are used by buyers and credit developers to calculate credit gains and
losses for ecosystem improvements and impacts.
Registries provide credit tracking services by assigning unique serial numbers to credits and
managing the flow of credits and debits over time.
Forms, templates and guidance for each program enable efficient and consistent execution of
the operations outlined in the Ecosystem Accounting Protocol.
Ecosystem Crediting Platform (not available for all programs) automates much of the
workflow, provides easy access to the guidance documents and acts as a centralized place to
store documents related to credit generation. Much of the guidance encapsulated in the
Ecosystem Accounting Protocol is also available on the Ecosystem Crediting Platform. For
programs without access to Ecosystem Crediting Platform, the administrator provides forms,
tools and guidance directly to program participants.
Documentation of rationale defines the assumptions and rationale for specific technical and
policy decisions influencing the design and operations of an environmental accounting program.
This rationale also supports programmatic performance reviews and enables effective adaptive
management.
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SECTION 1
INTRODUCTION
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1. INTRODUCTION
Ecosystem accounting programs provide an alternative approach for offsetting development impacts,
and for effectively investing private and public conservation funds. They accomplish this by focusing on
quantified outcomes - credits – which are directly tied to ecosystem goals. Environmental accounting
programs utilize the environmental return on investment (the amount of conservation achieved per
dollar spent) to help prioritize actions and drive accountability for performance. As a result,
environmental accounting programs provide a potential revenue stream for landowners and land
managers who create and conserve environmental benefits. Environmental accounting programs also
provide incentives for mitigation that result in a net improvement in ecosystem benefits, such as wildlife
habitat, clean air and clean water, while also enabling projects to proceed with greater certainty.
GUIDING PRINCIPLES
Ecosystem accounting programs can increase our ability to restore or maintain resilient ecosystems in a
credible, rigorous and cost-effective way. Ecosystem accounting enables communities, policymakers and
industries to work together to achieve overall environmental goals rather than simply comply with
environmental regulations. As such, ecosystem accounting program are designed to work within existing
regulatory structures and constantly strive to:
1.
2.
3.
Produce the highest quality restoration and conservation where it makes the greatest ecological
difference;
Foster transparency, accountability, credibility and continuous improvement, and;
Facilitate the connections between buyers and credit developers that put the greatest amount of
resources towards measurable conservation outcomes while maintaining low transaction costs.
If there are ever any grey areas, exceptions to standards, or places where the Ecosystem Accounting
Protocol is silent, refer back to these three guiding principles to shape case-by-case decisions.
BASIC FEATURES
Ecosystem accounting programs create incentives to minimize environmental impacts from development
and to implement the best conservation opportunities that produce the greatest ecosystem benefit.
Ecosystem accounting programs:





Are market-based so that buyers and credit developers compete to buy and sell credits,
maximizing the value of conservation achieved per dollar invested.
Enable many landowners to be compensated for conservation activities that improve
environmental conditions throughout a broad geographic range.
Provide a mechanism for buyers with regulatory requirements or with conservation missions to
invest in conservation.
Support improvements for habitat, water quality, and other ecosystem services in both regulated
and non-regulated settings. For species, this can include non-listed, special status, candidate,
and listed species.
Account for the ecosystem value of both permanent and temporary conservation.
KEY ROLES OF PROGRAM PARTICIPANTS
Ecosystem accounting programs efficiently coordinate multiple participants to generate, track and
transfer quantified units of environmental benefit, known as credits. Other participants contribute by
providing technical services, consistently administering the program, and incorporating new scientific
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information over time. The Ecosystem Accounting Protocol is organized around three main participant
roles:



Credit developers: Section 2 describes the steps that individuals or entities take to create
environmental benefit through land management or protection. Credit developers register these
benefits as credits for sale or transfer. In reality, many of these functions may be performed by
technical service providers supporting credit developers.
Buyers: Section 3 describes the steps for public and private buyers to purchase credits from
credit developers or program administrators to achieve their environmental improvement goals
or comply with regulations.
Administrator: Section 4 describes the steps for the program administrator to systematically
synthesize and use new information to 1) inform buyers who use the program as a means to
efficiently track and report the outcomes from their investments, 2) ensure the calculation of
credits is accurate by incorporating the best available science into tools, and 3) drive
accountability.
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SECTION 2
GENERATING ECOSYSTEM CREDITS
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2. GENERATING ECOSYSTEM CREDITS
QUESTIONS ANSWERED
 How does a Credit Developer or Technical Service Provider determine baseline and estimate expected
ecosystem credits from planned conservation practices?
 How does a Credit Developer and the Administrator resolve issues and questions, and agree to final credit
estimates and release schedules?
 How are monitoring and verification results used to determine the amount of credit issued?
This section describes the process of turning conservation actions into verified credits. It begins by
selecting a site and determining eligibility to generate credits, estimating credits from anticipated actions
and verifying that on-the-ground conditions are consistent with the submitted credit estimates. Credits
are then issued, tracked and transferred between buyers and credit developers. Figure 2.1 and Table 2.1
provide an overview of the steps of credit generation and the different participants engaged at each step.
Figure 2.1: Ecosystem Credit Generation Overview
Effective conservation projects result in improved habitat and environmental conditions. Effectiveness
depends both on implementing a quality project design and ensuring the project site is maintained to
produce the expected environmental outcomes. Steps D1 and D2 define the process for estimating the
number of credits generated from implementing the project. Step D3 defines the process to verify that
actual on-the-ground conditions support the expected credits over time. Steps D4 and D5 describe how
credits are issued, tracked and transferred.
Credit
Developer1
Administrator
Buyer
Table 2.1: Overview of Roles, Tools & Products to Quantify, Issue and Track Credits from Projects
D1. Select &
Validate Site



D2. Implement &
Calculate Benefit


Process Step
Relevant Forms & Templates
Completed Products
 Project Information Sheet/Tab
 Validation Checklist Form
 Field Inventory Datasheets
 Quantification Tools & Guidance
 Credit Estimate & Project Design Form
 Verification Contract
 Conflict of Interest Form
 Agency Certification Form
 List of Conservation Opportunities
 Notice of Validation
 Project Baseline Determination
 Customized Management Plan
 Financial Assurances
 Credit Release Schedule
 Verification Report
 Monitoring Report
D3. Verify


Conditions
D4. Register &


 Registry Account Registration Form
Issue
D5. Track &

   Notice of Transfer Form
Transfer Credits
 Indicates a necessary or active role
 Indicates potential participation or a support role
1
 Issued Credits
 Accomplishments Report
Any reference to steps undertaken by credit developers within the Ecosystem Accounting Protocol may actually be
implemented by technical service providers, aggregators or contractors.
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D1 SELECT & VALIDATE PROJECT SITE
Select &
Validate
Site
Implement
& Calculate
Benefit
Verify
Conditions
Register &
Issue
Track &
Transfer
Figure 2.2: Select & Validate Project Site
In this step, the Credit Developer identifies a project site that is likely to produce credits and the
Administrator validates that the site is eligible to produce credits through the program.
D1.1 IN DICAT E IN ITI AL IN TERES T & IN IT I AT E COM M UNI CAT ION
This first step for the Credit Developer is to become aware of the opportunity to participate in the
program. The Credit Developer is introduced to the program through outreach materials or word of
mouth, and learns about the potential benefits of participating. The Credit Developer or the Credit
Developer’s representative makes contact with the Administrator by email or phone to provide basic
information, such as name, area of interest and contact information. The Administrator provides a list of
technical service providers in the project area to assist with project design, credit quantification and
project implementation.
The Administrator also provides login information for the Ecosystem Crediting Platform (if available).
The Ecosystem Crediting Platform automates much of the workflow, provides easy access to the
guidance documents and acts as a centralized place to store documents related to credit generation. Much
of the guidance encapsulated in this Ecosystem Accounting Protocol is also available on the Ecosystem
Crediting Platform online.
Product  Indication of Interest
D1.2 SELECT P ROJECT S I TE
The Credit Developer should consider environmental needs and conservation opportunities, the
likelihood that a project will deliver significant environmental benefits, and the potential costs and
challenges to implement the project. Technical service providers can help provide advice to credit
developers on these considerations, so that the most beneficial and compatible site is chosen.
D1.3 OPEN ACCO UN T & ADD PROJ E CT
The Credit Developer starts a new project on the Ecosystem Crediting Platform and enters the general
information about the project in the Project Information tab.
Product  Completed Project Information Sheet/Tab
D1.4 S UBMIT P ROJE CT V ALID AT ION CHE CKLIS T
The Credit Developer completes an eligibility screen, addressing a site’s ability to generate credits and its
potential alignment with identified buyers and funding programs. This step is typically supported by a
knowledgeable technical service provider who completes the Validation Checklist on the Ecosystem
Crediting Platform. This checklist records the proposed conservation practices, timeline, and location of a
proposed project site. It also confirms minimum eligibility criteria - basic information related to
ownership, stewardship and land protection.
Product  Completed Validation Checklist Form
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D1.5 V ALIDAT E & IDEN TI FY CONSE RVAT ION OPPO RTU N IT Y
The Administrator reviews the Validation Checklist. If all validation criteria are met, the Administrator
coordinates approval from any additional validation leads, such as relevant regulatory agencies, as
defined in the Context and Scope document for the program of interest, and issues a Notice of Validation
to the Credit Developer. The Notice of Validation is a statement that the project will be eligible to
generate credits if all information provided is accurate and complete. It is not a confirmation of the
quantity of credits to be issued. All information and documentation provided in the Validation Checklist
will be reviewed in greater depth during verification (Step D3).
If validation criteria are not met, the Administrator will provide reasons why the project may not be
eligible to participate in the program.
The Administrator maintains a list of projects seeking funding for implementation while respecting
confidentiality rules outlined by the specific program. If the Credit Developer desires, the Administrator
can include the project on this list of conservation opportunities. The Administrator reviews the list of
identified buyers (described in Section 3 of this Ecosystem Accounting Protocol) and informs the Credit
Developer of potentially applicable sources of investment for the project.
Product  Notice of Validation
Product  List of Conservation Opportunities
D2 IMPLEMENT PROJECT & CALCULATE BENEFIT
Select &
Validate
Site
Implement
& Calculate
Benefit
Verify
Conditions
Register &
Issue
Track &
Transfer
Figure 2.3: Implement & Calculate Benefit
This is the most involved step in the Ecosystem Accounting Protocol. Typically, a Technical Service
Provider assists the Credit Developer to design the project, estimate expected credit amount using the site
design, implement conservation practices, and refine calculations based on actual post-project conditions.
The Credit Developer has the option to check the design calculations with the Administrator to gain
confidence that the initial estimate of credits is accurately calculated. Typically, practical opportunities
and constraints that arise during implementation cause actual conditions to differ from design plans.
Thus, final calculations must be revised to reflect actual post-project conditions.
Alternatively, the Credit Developer may wait to calculate benefits until the project is complete, and then
perform all calculations using post-project conditions. If this is the desired course of action, care must be
taken to thoroughly document pre-project conditions to inform calculation of baseline as specified in the
Context and Scope of the relevant program. Project proponents are advised to consult with the
Administrator before initiating project implementation.
D2.1 DEF INE & S UBM IT P ROJ E CT B ASELIN E
The Credit Developer follows the process defined in the Ecosystem Crediting Platform and associated
guidance to define the project boundaries and determine the project baseline. Project baseline defines the
point from which credits are generated for credit producing sites. See the definition of baseline in the
Context and Scope document for the program of interest.
The following describes the process to determine baseline conditions. The Ecosystem Crediting Platform
and Context and Scope for each program provide additional guidance and instructions.
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Delineate Project & Map Unit Boundaries
The Credit Developer or Technical Service Provider makes two essential geographic determinations.


The project boundary identifies the location of the entire project area generating credits.
The map units within the project boundary delineate common habitat types, habitat structure,
and habitat elements used to collect data.
A single project site has as many map units as it has diversity in habitat types. This map unit approach
enables the calculation of multiple benefit types on project sites with multiple habitat types.
Product  Mapped Project Boundary
Product  Map Units with Associated Acreage and Benefit Types
Conduct Field Inventory
Debit sites require a baseline field assessment to determine pre-project conditions or are considered to
have 100% functionality. See the specific requirements for the program and credit type of interest to
determine if it is necessary to conduct a field assessment for credit generating projects.
The Credit Developer or Technical Service Provider completes the applicable field datasheets following
guidance provided for each applicable credit. The Credit Developer or Technical Service Provider fills in
the baseline data results from the field inventory, completes any necessary calculations, and uploads the
completed field datasheets for each credit type.
Product  One or More Field Inventories
Product  Baseline Results
Submit Baseline
The Credit Developer or Technical Service Provider submits the project baseline information for review
and approval by the Administrator through the Ecosystem Crediting Platform. Once submitted, the
baseline information cannot be altered by the Credit Developer without the assistance of the
Administrator.
Product  Completed Project Baseline Determination
Confirm Baseline Calculations
The Administrator reviews the baseline information and confirms all calculations are completed
consistent with guidance. If all the documentation and calculations are complete, the Credit Developer is
invited to proceed with project design calculations. If the Administrator requires an independent site
verification to confirm calculations, this site assessment will be initiated by the Administrator selecting a
Verifier to schedule a site visit with the Credit Developer.
If inconsistencies are identified, the Administrator communicates the issues to the Credit Developer and
requests modifications.
Product  Invitation to Complete Project Design Information
D2. 2 DEF INE & S UBM IT P ROJ E CT DE SIGN INFO RM ATI ON
The Credit Developer or Technical Service Provider can develop multiple design scenarios to test the
amount of credit generated from different design options. The following describes the process to define
and calculate benefits from a project design.
Delineate Project & Map Unit Boundaries
The project design boundary should be the same as the baseline boundary. The Credit Developer contacts
the Administrator if, through the design process, this boundary must change. Such a change would
necessitate the re-submittal of baseline conditions to ensure that proper comparisons are made when
generating a credit estimate.
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Map units within a project may change from baseline to design as modifications to existing conditions
alter habitat or create new natural features that must be recorded. The quantification tool guidance and
field datasheets provide specific guidance.
Product  Refined Project Boundaries & Map Units
Generate & Upload Benefit Estimates
The Credit Developer or Technical Service Provider completes a functional assessment for the projected
post-action condition (the condition following completion of the conservation project) based on project
design documents that outline the area, scope and activities to be completed as part of the conservation
project. The post-action data set is created by adjusting baseline data to reflect the site condition and
ecosystem function projected at project maturity or the highest anticipated functioning period during the
project’s life. For example, the post-action condition for riparian restoration projects is when the planted
vegetation matures to its full anticipated height and canopy cover. These data sets are entered into the
quantification tool to get a new, future function score. That score and the completed calculations are then
transferred to the Ecosystem Crediting Platform.
Most credits are equal to the change in ecological function from baseline to post-project conditions. The
Ecosystem Crediting Platform subtracts the function score for the baseline condition from that of the
projected post-action future condition to get a measure of site-level ecosystem change.
Product  Completed Quantification Tools
Product  Credit Estimate & Project Design Form
Set Accounting Units
The Credit Developer or Technical Service Provider may combine contiguous map units and their
associated benefits into larger accounting units. If map units are not contiguous then they may not be
combined. Credits generated from geographically distinct accounting units are tracked separately and
allow a credit developer to sell multiple types of credits from the same project. Generally, the creation of
accounting units simplifies the credit issuance, registration and monitoring process. It also creates more
flexibility for credit developers when selling credits.
Product  Accounting Units for Issuance, Registration & Monitoring
Submit Design to Administrator for Pre-Approval (optional)
The Credit Developer may submit initial credit estimates and other relevant information included in this
step to the Administrator for pre-approval and assurance that the credit calculators are correct given
design assumptions. If appropriate and requested by the Credit Developer, regulatory entities may also
be involved in this pre-approval check to confirm the project meets any special requirements necessary
for regulatory approval. This optional step provides the Credit Developer an indication of the amount of
credits expected from the project if the conservation practices are implemented as designed.
Product  Credit Estimate & Project Design Forms
Pre-Approve Project Design Calculations (optional)
The Administrator reviews calculations based on design assumptions and confirms that calculations
appear complete. If appropriate and requested by the Credit Developer or a potential Buyer, regulatory
entities may also be involved in this pre-approval check to confirm the project meets any special
requirements necessary for regulatory approval.
Product  Credit Estimate Table
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D2. 3 IMPLE MEN T PROJE CT, R E FINE CAL CUL ATIONS & S UBM IT
Implement Project
The Credit Developer, Technical Service Provider or a designated restoration contractor implements the
project with the understanding that final credit amounts will be determined using post-project
conditions. The ability to adjust calculations based on site design enables the Credit Developer to identify
additional opportunities to make improvements during project implementation and enables practical
adjustments that may be necessary due to unforeseen site constraints.
Product  Completed Project
Confirm or Refine Credit Calculations
The Credit Developer either confirms that the project was completed consistently with the submitted
project design documents or includes a new project design scenario that accurately reflects post-project
conditions.
Product  Post-Project Credit Calculations
Develop Customized Management Plan
The Credit Developer completes a Customized Management Plan defining the specific management
actions for the site including ongoing maintenance and monitoring requirements. For sites with a multicredit release, the Customized Management Plan includes information related to future release of credits.
Product  Customized Management Plan
Determine Reserve Requirements
The Credit Developer or Technical Service Provider places some portion of credits generated into a
reserve pool, which is a pool of issued credits, managed by the Administrator and used to cover any
credit shortfalls resulting from project failures. Additional credits may be placed in a net benefit account
that ensures net environmental gain from projects, even after consideration of potential inaccuracy of
quantification methods. Reserve and net benefit requirements are defined in the Context and Scope
document for each program.
Product  Determined Reserve Pool & Net Benefit Contributions
Determine Project Duration & Credit Release Schedule
Guidance for selecting appropriate project duration is included in the Context and Scope for each
program. The credit release schedule defines the fraction of credits released each year based on meeting
specified performance criteria. Guidance for determining the credit release schedule for a project is
provided in the applicable quantification tool guidance or the Context and Scope document for the
applicable program. Credit release schedule requirements should be clearly documented by the Credit
Developer or Technical Service Provider in each project’s Customized Management Plan.
Product  Credit Release Schedule(s)
Secure Financial Assurances (If Required)
The Credit Developer must secure necessary financial assurances if required by the program – see the
Context and Scope for additional guidance. Financial assurances ensure that funds are available to cover
credit shortfalls and support long-term management of individual project sites, as specified in the
Customized Management Plan.
Product  Secured Financial Assurances
Submit Post-Project Calculations & Documentation
The Credit Developer submits the final credit estimate and all required documentation to the
Administrator as defined in the Context and Scope for verification reflective of post-project conditions.
Product  Final Credit Calculations and Related Forms
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Establish Verification Contract
The Credit Developer completes a contract with the Administrator for verification services. A sample
contract is available on the Ecosystem Crediting Platform.
Product  Complete Verification Contract
D3 VERIFY CONDITIONS
Select &
Validate
Site
Implement
& Calculate
Benefit
Verify
Conditions
Register &
Issue
Track &
Transfer
Figure 2.4: Verify Conditions
All projects require verification. Verification is an independent, expert check on the credit estimates
provided by the Credit Developer. The purpose of verification is to provide confidence to all program
participants that credit calculations represent a faithful, true and fair account of impacts and benefits –
free of material misstatement and conforming to accounting and credit generation standards. Ongoing
verification ensures the project is maintained over time and supports the expected level of credit reflected
in calculations. The required frequency of verification is defined in the Context and Scope for each
program.
D3.1 SELECT VE RI FIE R
Upon receiving complete documentation and a finalized contract for verification services from the Credit
Developer, the Administrator assigns an accredited third-party Verifier to perform a full verification.
Alternatively, the Administrator may act as the Verifier, as specified in the Context and Scope.
Verifiers must be accredited by the Administrator or the lead agency overseeing a currency before they
are eligible to conduct verification activities. The independence of verification is important. Verifiers
acting on behalf of the Administrator must work in a credible, independent, nondiscriminatory and
transparent manner, complying with applicable state and federal law. Verifiers must demonstrate their
ability to professionally assess a specific type of credit without conflicts of interest. This includes
disclosing any pre-existing relationships between the Credit Developer or Buyer and the Verifier.
Verifiers must provide a Conflict of Interest Form to the Administrator before verification can proceed.
Product  Completed Conflict of Interest Form
Product  Assigned Verifier
D3.2 PE RFO RM ON GOIN G P ROJE CT M AIN TEN AN CE AND MONI TO RING
The Credit Developer is responsible for
monitoring and maintaining project
conditions throughout the life of the
project to ensure that on-the-ground
conditions reflect the information
provided in the verified credit estimate
and Customized Management Plan.
Depending on the implemented
conservation practices, project conditions
may appropriately degrade throughout the
year. Before project monitoring is
finalized, the Credit Developer maintains
Dispute Resolution Process
The following structure is provided to settle disagreements
that may occur between a credit developer, verifier, buyer,
agency and/or administrator.
 First attempt to resolve the dispute through direct
conversation.
 Second, engage the Administrator or agency staff to
facilitate resolution.
 Third, employ the governing body dispute resolution
process defined in the Program Improvement
Management System, Chapter 4.
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the project as necessary to ensure that actual, on-the-ground conditions support the credits calculated in
Step D2 and documented in the Customized Management Plan. The Credit Developer submits the
periodic (typically annual) Monitoring Report to the Administrator in accordance with the requirements
defined in the Context and Scope for the program and the specifics in the Customized Management Plan.
Product  Monitoring Report
D3.3 P RO JE CT VER IF I CATION
The Verifier confirms that:



The Ecosystem Accounting Protocol was followed completely and accurately.
Appropriate documentation is in place (e.g. land protection or management agreements).
The amount of credit issued for a project is appropriate given actual, on-the-ground conditions.
The Verifier performs a review of all relevant forms and documentation, and schedules a site visit with
the Credit Developer. The Verification Report is completed with information gathered during the site
visit using the Verification Protocol, available on the program website. The Verification Report may be for
a specific credit release from a project or for all of the units of credit generated from a project.
The Credit Developer’s credit calculations must be found to be free of material misstatements and meet
the performance criteria defined in the Context
and Scope for the program and criteria defined
Becoming an Accredited Verifier
in the Customized Management Plan. If
The Administrator will accredit verifiers to review one or
performance criteria are not met, the Verifier
more types of credits. Verifiers will act as subcontractors to
discusses the issues with the Credit Developer.
the administrator. Verifiers bear no liability for project
The Verifier and Credit Developer determine if
implementation or project performance. Interested verifiers
corrective actions are necessary and
must complete the following steps:
appropriate, and the Verifier defines the
 Attend a Verification Training Session
appropriate amount of credit to be awarded
 Keep the Administrator informed of any changes affecting
given site conditions. If appropriate corrective
the accreditation (e.g. potential conflicts of interest)
 Participate in a refresher course held by the administrator
actions or amount of credit cannot be agreed to
at least biannually
by the Verifier and Credit Developer, they
follow the dispute resolution process by
engaging the Administrator.
Submit Initial Project Verification Report
Once successful verification is complete, the Verifier submits their Verification Report to the
Administrator. The Verification Report contains a summary of verification activities, an opinion on the
credit estimates and a log of activities and findings.
Product  Verification Report
Complete Ongoing Verification
Initial project verification is completed for the project before credits are issued. Monitoring reports must
be submitted and reviewed periodically to confirm that conditions are maintained according to the
specifications in the Customized Management Plan. Periodic verification is also required as defined in the
Context and Scope for each program.
Product  Periodic Monitoring Reports
Product  Periodic Verification Report (as defined in the Context and Scope)
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D3. 4 P ROJE CT CERT IF I CATIO N (I F NECES SARY )
Project certification is only necessary for programs where regulatory agencies have not delegated the
authority to certify credits for regulatory offsets to the Administrator. The need for project certification is
defined in the Context and Scope for each program. When project certification is needed, public agencies,
or their designated proxy, review verified credit estimates. The Administrator coordinates this process
and notifies the Credit Developer when certification is complete. Any disputes may be addressed through
the dispute resolution process. When the final decision is officially delegated to the Administrator, the
Regulator still holds the final authority over regulatory decisions.
Product  Agency Certification Form
D4 REGISTER PROJECT & ISSUE CREDITS
Select &
Validate
Site
Implement
& Calculate
Benefit
Verify
Conditions
Register &
Issue
Track &
Transfer
Figure 2.5: Register & Issue Credits
Registration ensures that credits from a specific project are real, transparent, and traceable throughout the
entire life of the project. All verified and certified credits generated through the Ecosystem Crediting
Platform must be registered. Supporting information related to each credit include vintage (year issued),
estimation method, and quantification tool and version used. The specific registry used by each program
is defined in the Context and Scope.
D4.1 CREAT E A REGIS T RY ACCO UNT
The Credit Developer sets up an account on the registry. Once a Credit Developer establishes a user
account, any number of projects can be registered under the same user account. See the Context and
Scope document for the program of interest for detailed information on using the registry, as well as
information on what project information will be made publicly available.
Product  Registry Account
D4.2 REGIS TE R P ROJE CT
The Credit Developer can register a project as soon as a project is validated (Step D1) and an initial credit
estimate is complete. The Credit Developer begins a new project, uploads required documentation and
requests a project registration.
Administrator Review
The Administrator reviews all documentation before the project is listed on the registry. If errors are
found or additional documentation is needed, the Administrator contacts the Credit Developer to request
the needed information.
Product  Registered Project
D4.3 ISS UE CRE DITS
The Credit Developer requests issuance after verification and certification (if necessary) is complete and
all required documentation is uploaded. The Administrator confirms all documentation is complete, the
amount of credits registered is correct, and issues the credits.
Product  Issued Credits
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D5 TRACK & TRANSFER CREDITS
Select &
Validate
Site
Implement
& Calculate
Benefit
Verify
Conditions
Register &
Issue
Track &
Transfer
Figure 2.6: Track & Transfer Credits
Credits issued on the registry are assigned unique serial numbers so they can be tracked over time. Once
issued, credits can be sold or transferred between registry accounts. The sale, transfer and ownership of
each credit is tracked by the registry. The terms of payments and sales are completed external to any of
the registry or administrator processes.
D5.1 AL LOCAT E CREDI TS TO RES ERV E AN D NET B ENE FI T ACCO UNT S
Reserve and net benefit requirements are defined in the Context and Scope document for each program
and identified for the specific project in Step D2.3. The Administrator allocates credits to the reserve and
net benefit accounts once credits are issued. Credits allocated to the reserve and net benefit accounts are
not available for sale.
Product  Notice of Transfer
D5. 2 SELL AN D T RANS FE R O R RE TI RE CRE DI TS
Credit developers and buyers connect via the registry or an alternative avenue. The price, terms and
conditions are all set by the credit developers and buyers, and are completed external to any of the
registry or administrator processes. Once an agreement to transfer or sell credits is reached, the Credit
Developer submits a Notice of Transfer to the Administrator. The Administrator transfers credits
between accounts.
Generally, all listed credits can be sold, retired or otherwise transferred between accounts until they are
retired. If credits are not to be transferred at all, they can be issued directly to the Administrator’s reserve
account or immediately retired. Once credits are retired, the registry moves them into a retirement
account that can be reported on but not accessed for transfer.
Product  Notice of Transfer
Product  Transfer of Credits between Accounts
D5. 3 REPO RT O F ACCOM PLISH MEN TS (O PTIO NAL)
The Credit Developer can generate reports that summarize the amount of credit generated from each
registered project and the total amount of credit generated from all registered projects. Supporting
information related to each credit include vintage (year issued) and estimation method and version used
can also be produced. Reports can also be generated that show transfers and retirement of credits.
Product  Accomplishments Reports
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SECTION 3
ACQUIRING ECOSYSTEM CREDITS
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3. ACQUIRING ECOSYSTEM CREDITS
QUESTIONS ANSWERED
 What type of investment strategies can a Buyer utilize to purchase credits generated under the program?
 How does a Buyer use credits to report on the accomplishments of their investments?
Acquire
Credits
Determine
Credit Need
Develop
Investment
Strategy
Figure 3.1: Credit Purchase Overview
This section describes the process to acquire ecosystem credits. Buyers of ecosystem credits include
entities mitigating for impacts to fulfill regulatory requirements, and entities seeking to improve the
environment. Ecosystem accounting programs enable private and public entities to efficiently invest with
confidence, knowing that quantified environmental benefits are consistently defined, transparent and
traceable. Buyers can increase efficiency by relying on the programmatic structure to guide project design
and verify that completed projects deliver environmental benefits. This increases accountability with
credit developers and allows for greater coordination with other buyers to fund large-scale projects.
Further, credits provide buyers quantitative information to evaluate and report the environmental value
generated from their investments. Figure 3.1 and Table 3.1 provide an overview of the steps of credit
purchase and the different participants that may be engaged at each step.
B2. Determine
Credit Need
B3. Purchase &
Acquire Credits
B4. Track &
Transfer
Buyer
B1. Develop
Investment
Strategy
Administrator
Process Step
Credit
Developer
Table 3.1: Overview of Roles, Tools & Products to Purchase, Track and Report Credits










Relevant Forms & Templates
Completed Products
 Investment Strategy Form
 Sample Contract
 List of Identified Credit
 Field Inventory Datasheets
 Credit Obligation & Project
 Credit Need Specifications
 Project Baseline Determination
 Verification Report
 Estimated Credit Obligation
Design Form
 Verification Contract
 Registry Account Registration
Form
 Notice of Transfer Form
 Indicates a necessary or active role
 Indicates potential participation or a support role
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 Notice of Transfer
 Annual Accomplishments Report
ECOSYSTEM ACCOUNTING PROTOCOL
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B1 DEVELOP INVESTMENT GOAL & ACQUISITION STRATEGY
Track &
Transfer
Acquire
Credits
Determine
Credit Need
Develop
Investment
Strategy
Figure 3.2: Develop Investment Strategy
The Buyer defines their goal and an appropriate strategy for acquiring credits.
B 1.1 IN DICAT E IN ITI A L IN TERES T & IN IT I AT E COM M UNI CAT ION
This first step for the Buyer is to become aware of the opportunity to participate in the program. The
Buyer is introduced to the program through outreach materials or word of mouth, and learns about the
potential benefits of participating. The Buyer or the Buyer’s representative makes contact with the
Administrator by email or phone to provide basic information, such as name, area of interest and contact
information. The Administrator provides a list of technical service providers in the project area who can
assist with developing an investment strategy, if this assistance is desired.
The Administrator also provides login information for the Ecosystem Crediting Platform and/or registry.
The Ecosystem Crediting Platform automates much of the workflow, provides easy access to guidance
documents and acts as a centralized place to store documents related to credit generation. Much of the
guidance encapsulated in this Ecosystem Accounting Protocol is also available on the Ecosystem
Crediting Platform.
Product  Indication of Interest
B 1.2 DEF INE B UYE R ST RATE GY
The Buyer downloads an Investment Strategy Form from the Ecosystem Crediting Platform.
Define Goal
The Buyer identifies their goal for acquiring ecosystem credits. Understanding environmental goals will
help determine an appropriate investment strategy, including which types of credits to purchase, the
geographic area where credits can be purchased to achieve the goal, and which acquisition approach will
achieve the highest environmental return at the appropriate level of risk.
If the Buyer is acquiring credits to achieve regulatory compliance by mitigating for impacts, the
investment goal is typically to acquire the necessary number of credits at the lowest possible cost. If the
Buyer is acquiring credits to avoid future costs by reducing environmental risks to business operations or
to protect ecosystem services of interest, the investment goal is typically to maximize the environmental
benefit for a fixed amount of available funding.
Define Investment Strategy
Several mechanisms can be used to purchase and acquire credits. The Context and Scope document and
Investment Strategy Form for the program of interest identifies the available mechanisms for purchasing
credits. The Buyer evaluates different strategies and chooses one that meets their individual needs.
Submit Investment Strategy (optional)
The Buyer may submit an Investment Strategy Form to the Administrator to signal that they would like
to be connected to eligible projects or other buyers.
Depending on the information provided in the Investment Strategy Form, the Administrator follows up
with the Buyer to provide one or more of the following services:
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

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Request for Proposals or Facilitated Reverse Auction: The Administrator provides the Buyer
with a list of identified aggregators who can arrange a unique request for proposals or facilitate
a reverse auction process to identify the lowest cost opportunities to acquire credits. In certain
programs, the Administrator may directly facilitate the solicitation of credits. See the Context
and Scope of the program of interest to determine the services provided by the Administrator.
Project Registry: The Administrator can typically provide the Buyer with a list of willing credit
developers and projects, which includes any public information provided and approved for
release by credit developers in the Validation Checklist.
Joint Funding Agreements: The Administrator may provide a list of other buyers also interested
in joint funding opportunities.
The Administrator maintains a list of identified buyers, which is provided to credit developers seeking
funding for identified projects. The Buyer may decide whether or not they wish to be listed.
Product  Complete Investment Strategy Form
Product  List of Identified Credit Developers & Buyers
B2 DETERMINE CREDIT NEED
Track &
Transfer
Acquire
Credits
Determine
Credit Need
Develop
Investment
Strategy
Figure 3.3: Determine Credit Need
Buyers determine the geographic region, duration and amount of credit needed to best meet their
investment goals.
B 2.1 DE TERMIN E APPLI CABLE GEO GRAPHY & P ROJE CT CH ARACTE RIST I CS
The Buyer identifies the specific geographic area to source credits. The Context and Scope document for
each program defines the applicable geographic scope of the program and specific service areas or
accounting areas with unique characteristics. Regulatory requirements typically require or encourage
credits to be sourced from within the same service area where impacts occur. Buyers may also choose to
focus investment within a specific geographic area to achieve unique investment goals, such as securing
habitat for a specific subpopulation of a species or to protect water supply upstream of a specific point
within a river system.
The Buyer must also consider the duration or term to purchase credits. Projects produce credits for
specific durations of time, including some projects which produce credits that are perpetual. The Context
and Scope document for each program defines parameters for project duration. Regulatory requirements
typically specify that the duration of mitigation must be at least as long as the duration of the impact, and
that the credits be produced before impacts occur. These specifications are outlined in detail in the
relevant Context and Scope document.
The Buyer may also be interested in other characteristics that would focus investment on specific project
types or credit developers. For instance, the Buyer may want to only invest in projects that produce new
habitat on working lands from small farmers and ranchers.
Product  Determination of Credit or Project Specifications
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B 2.2 DE TERMIN E CRE DI T AMO UN T ( RE GUL ATO RY O FFSE T B UYE RS ONLY )
Each Buyer defines their needed or desired amount of credit. If the Buyer has a set amount of funding to
secure the maximum amount of credit, they may skip ahead to step B2.3.
The remainder of this step defines the process to determine the amount of debit resulting from
development activities and the associated amount of credit needed to offset these impacts in a regulatory
context. Development activities must be avoided and minimized through the best available and
practicable technology and practice. Full compliance with all relevant laws and rules is required before
credits can be used to satisfy the remaining regulatory requirements from unavoidable impacts.
Debits are quantified and verified units of functional loss. The process to calculate and verify debits is the
same as the process to quantify credits except that verification occurs prior to project implementation.
The following sections are a summary of that process. See Step D2 of Section 2 for additional detail.
Begin Project on the Ecosystem Crediting Platform
The Buyer begins a project in the Ecosystem Crediting Platform, defines the project boundary and defines
map units for the baseline condition.
Define & Submit Baseline Assessment
For debits, baseline is generally defined as the condition of the site prior to any development action. Debit
sites require a baseline field assessment to determine pre-project conditions or are considered to have
100% functionality. See the Context and Scope for specific requirements for the program and credit type
of interest to determine if it is necessary to conduct a field assessment.
If field assessment is required, the Buyer conducts an assessment of the project area and applies the
applicable quantification tools to calculate the baseline site functionality. Field and data collection forms
are used to run the quantification tools and generate a functional acre score. The project baseline
information, photo point documentation and quantification tool scores are submitted through the
Ecosystem Crediting Platform.
The Administrator reviews the baseline information and confirms all calculations are complete and
consistent with relevant regulatory guidance, and allows the project to proceed to the next step in the
Ecosystem Crediting Platform.
Product  Complete Baseline Assessment
Determine Credit Obligation
Debits are the difference between the functional scores of the baseline and post-action conditions. For
some development activities, the post-action condition (the condition following completion of the
development action) is assumed to have zero ecosystem function. In these cases, the debit quantity is
equal to the functional score for the baseline condition. In other cases, as outlined in the Context and
Scope document for the program, the Buyer will apply functional assessments of the post-action
condition. The initial assessment is produced using development design documents defining the area,
scope and activities to be completed as part of the development actions. As described in Step D2.2 (Define
and Submit Project Design Information), post-action data sets are created by modifying the baseline
datasets to reflect projected post-action conditions. These data sets are entered in the quantification tools,
which produce functional scores, and are uploaded to the Ecosystem Crediting Platform.
The credit obligation is the amount of credit required to meet regulatory requirements. The Context and
Scope document for the program of interest or the specific permit defines if a trading ratio is applied to
determine the credit obligation. If a trade ratio is applied, the debit amount is multiplied by the trade
ratio to determine the credit obligation.
Product  Estimated Credit Obligation
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Acquire Agency Approval (If Necessary)
Consult the Context and Scope document for the program of interest and specific permit requirements to
determine if agency approval is needed to use credits for regulatory offsets.
Establish Verification Contract
The Buyer completes a contract with the Administrator for verification services. A sample contract is
available on the Ecosystem Crediting Platform.
Product  Complete Verification Contract
Verify Baseline
Verification of debits, like credits, is an independent review of all projects by third parties. Once final
versions of all required documents are uploaded to the Ecosystem Crediting Platform, the Administrator
reviews documentation to ensure completeness and assigns an accredited third-party Verifier to perform
a full verification. Verification of debits occurs before the development action has been implemented.
The Buyer’s estimate must be found to be accurate and free of material misstatements. Resolving
differences between estimates and dispute resolution is handled as described in Step D3 in Section 2
(Verify Project and Credit Calculations).
Once successful verification is complete, the Verifier submits the Verification Report to the
Administrator. The Verification Report contains a summary of verification activities, an opinion on the
debit estimates and a log of activities and findings.
Product  Verification Report
Post-Action Verification (If Necessary)
Consult the Context and Scope document for the program of interest and specific permit requirements to
determine if post-action verification is required to ensure that the amount of impact is not greater than
anticipated during project design.
B3 ACQUIRE CREDITS
Track &
Transfer
Acquire
Credits
Determine
Credit Need
Develop
Investment
Strategy
Figure 3.4: Acquire Credits
B 3.1 CREAT E A B UY ER ACCOUN T
To acquire and track credits, the Buyer first creates an account on the registry. The Buyer can use their
accounts to transfer and manage listed credits from all projects. The Buyer may contact the Administrator
for help in opening a buyer account.
Product  Active Registry Account
B 3.2 P URCH ASE CRE DI TS
The credit developers and buyers connect via the registry or some other avenue, and come to agreement
on credit quantities, price, timing of funding, and other terms. The terms of payments and sales are
completed between the credit developers and buyers, external to any of the registry or administrator
processes. Once an agreement is complete, the Buyer or Credit Developer submits a Notice of Transfer to
the Administrator.
Product  Notice of Transfer
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B4 TRACK & TRANSFER CREDITS
Track &
Transfer
Acquire
Credits
Determine
Credit Need
Develop
Investment
Strategy
Figure 3.5: Track & Transfer Credits
Credits listed on the registry are assigned unique serial numbers that identify the source of each credit,
the quantification tool and version used to estimate credits, and the current owner. All registered projects
will be listed on the registry website and available for the public to search, subject to confidentiality
provisions defined in the Context and Scope document for the program of interest. The terms of
payments and sales are completed external to any of the registry or administrator processes.
B 4.1 TRANS FE R CRE DI T S
Upon receiving a Notice of Transfer, the Administrator transfers credits between accounts. Credits used
to meet mitigation requirements are retired and not available for resale. All remaining credits may be
held by the Buyer or resold. Even after transfer, the Credit Developer is responsible for meeting the
monitoring, reporting and verification requirements of each project for the life of the project (described in
Section D3).
Product  Transfer of Credits between Accounts
B 4.2 REPO RT ON ACCOM PLISH MEN TS (O PTIO NAL)
Buyers can generate reports that show transfers and retirement of credits.
Product  Accomplishments Reports
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SECTION 4
MANAGING THE PROGRAM
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4. MANAGING THE PROGRAM
QUESTIONS ANSWERED
 How is the program managed to ensure transparency and drive accountability?
 What information is reported related to achieving system-wide benefits?
 How are findings from implementation and monitoring synthesized into useful information to make the
program more efficient and improve the accuracy of related calculation tools?
 How are program improvement recommendations developed and used to inform annual program
improvement decisions?
This section describes the transparent and inclusive adaptive management process for an ecosystem
accounting program. Systematic synthesis and use of new information is essential to 1) provide useful
information to buyers who use the program to track and report the results from their investments, 2)
improve accuracy of calculations of ecosystem function by incorporating the best available science into
practical tools that improve project selection and design decisions, and 3) ensure the program operates
efficiently while maintaining accountability to regulators and stakeholders. Figure 4.1 and Table 4.1
provide an overview of the program management steps and the different participants that may be
engaged at each step.
Figure 4.1: Overview of program improvement management system steps
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

A2. Prioritize
Information Needs
& Guide
Monitoring




A3. Report
Program
Performance




 n/a
 Program Performance Report
A4. Synthesize
Findings




 Input Request Template
 Synthesis of Findings Report
 Findings Summary Table
A5. Identify &
Adopt Program
Improvement
Recommendations

A6. Engage
Stakeholders






Buyer &
Stakeholders
Administrator
A1. Update
Protocol & Tools
Process Step
Scientists
Credit Developer
Table 4.1: Overview of roles, tools & products to manage program operations



Relevant Forms &
Templates
 Program Improvement
Recommendation Form
 Research & Monitoring
Contract Templates
 Program Improvement
Recommendation Form
 n/a
Completed Products
 Program Improvements List
 New & Updated Quantification
Tools
 List of Areas for Investigation
 Monitoring Results
 Program Improvements List
 Program Improvement
Recommendations Memo
 Record of Decisions
 Audit Report
 Updated Website
 Quarterly Email Updates
 Stakeholder Meeting
 Summary of Input
 Indicates a necessary or active role
 Indicates potential participation or a support role
Organization & Roles
The Administrator performs the day-to-day functions to manage the program. The Administrator is
accountable to a Governing Body that approves all changes to the Ecosystem Accounting Protocol and
quantification tools. The composition of the governing body and the relationship between the Governing
Body, Administrator and other program participants is defined in the Context and Scope document for
each program. The Context and Scope document for each program also defines the specific timing for
each step in the program management process.
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A1 UPDATE PROTOCOL & TOOLS
Update
Protocol &
Tools
Report
Program
Performance
Prioritize
Information
Needs
Synthesize
Findings
Identify &
Adopt
Improvements
Engage Stakeholders
Figure 4.2: Update Protocol & Tools
This Ecosystem Accounting Protocol and associated tools and forms provide guidance for programs to
consistently track and report improvements and impacts to the environment. Updating the protocol, tools
and guidance is necessary to ensure practical experience and new scientific information result in
increased efficiency and effectiveness. This step describes the process for a program to review and update
protocols, policies and tools.
A1.1 UPDAT E P RO GRAM IMPROVE MENT S L IS T
Throughout the year, stakeholders may make suggestions for improving the program by submitting a
Program Improvement Recommendation through the program website. The Administrator adds
suggestions to the Program Improvements List. The Administrator may also add improvement
suggestions to the list reflecting personal experience or non-formal input from stakeholders. The Program
Improvements List ensures that suggestions are not overlooked during the annual program adjustment
process.
Product  Program Improvements List
Review & Sort Improvement Suggestions
The Administrator categorizes each suggestion according to the following definitions:



Category 1 improvements consist of minor administrative adjustments or clarifications to
communication or guidance materials. Category I improvements may be executed by the
Administrator at any time.
Category 2 improvements necessitate substantial changes to technical tools, protocols or
guidance. Category II adjustments require input and approval from the Governing Body before
they are implemented. The process for Governing Body review and adoption is defined in Step
A5: Identify & Adopt Program Improvement Recommendations. When in doubt, the
Administrator assigns the recommendation to Category II. Upon review by the Governing Body,
these suggestions may be re-categorized as needed.
Category 3 improvements necessitate adjustments to related policies if adopted. Category III
adjustments are reviewed and approved or rejected by the Governing Body with consultation
from the appropriate agency staff. These improvements may require agency approval, and thus
follow the appropriate policy change process as defined by relevant agencies.
Certain suggestions may require additional investigation or resources to be implemented. The Program
Improvements List enables prioritization of funding to implement the most important improvements that
can be successfully completed with available resources. The Administrator may make immediate changes
to address Category 1 improvements at their discretion. The Administrator then prioritizes any
remaining Category 1 and all Category 2 and 3 suggestions, considering relative importance and the
availability of resources to implement changes. The Administrator brings a prioritized Program
Improvements List to the Governing Body for approval at the Annual Program Improvements Decision
Meeting described in Step A5: Identify & Adopt Program Improvement Recommendations.
Product  Updated Program Improvements List
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A1.2 UPDAT E E XI STIN G QUANT IF I CATION TOOL S, FORMS AN D TE M PLAT ES
The Administrator implements Category 1 improvements throughout the year. Any Category 1
improvements implemented are identified in the Program Improvements List and reviewed by the
Governing Body to ensure changes are implemented appropriately. The Administrator implements all
additional approved improvements within a month following the Governing Body decision meeting
described in Step A5: Identify & Adopt Program Improvement Recommendations. The date at which
updates go into effect should be clearly defined by the Governing Body, and all documents and tools
should be updated at that specified time.
For improvements that require additional time or resources to implement, the Administrator develops a
brief implementation plan that is approved by the Governing Body.
Product  Updated Documents, Guidance & Tools
A1.3 IN TEGRATE NEW Q UAN TI FI CAT ION TOOL S
The Ecosystem Accounting Protocol is built to easily integrate new credit types and quantification tools.
Once a new credit type or quantification tool is identified as needed, the Administrator convenes a
technical committee to assess the proposed method and provide recommendations for improvement or
adoption. Quantification tools require several field tests to determine accuracy, repeatability, sensitivity
and ease of use. Once improvement recommendations are addressed, the Administrator presents the
proposed new tool, with supporting materials that define the use of any new the new credit types, to the
Governing Body for review and approval (as described in Step A5: Identify & Adopt Program
Improvement Recommendations).
Product  New Quantification Tools
A2 PRIORITIZE INFORMATION NEEDS & GUIDE MONITORING
Update
Protocol &
Tools
Prioritize
Information
Needs
Report
Program
Performance
Synthesize
Findings
Identify &
Adopt
Improvements
Engage Stakeholders
Figure 4.3: Prioritize Information Needs & Guide Monitoring
Monitoring and research are necessary to check that the ecosystem benefits projected by the
quantification tool result in the anticipated improvements for species, water quality or other
environmental attributes of concern. The program may collaborate with monitoring initiatives lead by
other active programs in the region.
A2.1 DEVELOP & ADJ US T L IST O F ARE AS FO R INVES TI GATION
The Administrator takes input from the Science Committee and/or technical experts and maintains the
List of Areas for Investigation. The List of Areas for Investigation catalogs and prioritizes research and
monitoring needs identified by participants as being important to improve quantification tools, better
understand the effectiveness of conservation practices, and follow the status and trend of environmental
attributes of concern.
The program may be able to collaborate with other monitoring programs to monitor status and trend, but
is likely to take a more active role in directing monitoring intended to calibrate quantification tools and
improve their accuracy. Quantification tools estimate the amount of credit expected from conservation
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projects based on technical assumptions. These assumptions are tested by technical experts and
practitioners conducting monitoring and research to address items on the List of Areas for Investigation.
Scientists review results and improve quantification tools and associated field methods accordingly.
Research and Monitoring Contract Terms
Research and monitoring contracts should reflect the need for clear, timely and consistently-formatted findings
so that findings can be easily used to address identified needs. Specific contract requirements can increase the
likelihood that funded research and monitoring projects produce directly useful findings by:
 Identifying specific questions for investigators to address through specific projects.
 Requesting a one-to-two page summary of findings that directly relates findings to identified questions
and related items on the List of Areas for Investigation.
 Requiring that reports be submitted in a timely manner so findings may be considered in the development
of the Synthesis of Findings Report (Step A4).
 Requesting interim updates for long-duration projects, in order for these projects to provide insights with
potential to influence current decisions and future expectations.
 Holding final payments until a draft report has been reviewed by an appropriate group of participants
and review comments have been satisfactorily addressed.
Product  List of Areas for Investigation
A2.2 PROVI DE INPUT T O RESE ARCH & MONI TO R IN G F UN DIN G P ROCES SE S
The Administrator coordinates with other program participants, regulators, technical service providers,
grant funders and stakeholders to identify and secure funding for priority needs identified on the List of
Areas for Investigation. Research and monitoring may be conducted through direct contracts with the
program or conducted through partnerships with existing monitoring programs.
Product  Research & Monitoring Contracts and Results
A3 REPORT PROGRAM PERFORMANCE
Update
Protocol &
Tools
Report
Program
Performance
Prioritize
Information
Needs
Synthesize
Findings
Identify &
Adopt
Improvements
Engage Stakeholders
Figure 4.4: Report Program Performance
Routine reporting of accomplishments is essential to ensure transparency and drive accountability. The
annual Program Performance Report (Performance Report) reports all credits tracked by the program and
informs interested parties of recent changes to the program. The Performance Report highlights successes
and challenges from the past year both regionally and for each specific geographic area of interest. This is
the highest profile product produced by the program and is targeted to an informed public audience.
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A3.1 CO MPIL E CONT EN T & PUBLISH PE RFO RMAN CE REPORT
The Administrator uses outputs from the registry, such as the number of credits created during the year,
to generate the quantitative information for the Performance Report. Credits are summed across
geographic locations and for each specific area of interest. The report may show accomplishments
compared to defined goals.
The Administrator updates the content from the previous Performance Report and develops a narrative
summary of overall accomplishments, challenges and changes to the program over the past year. The
Performance Report is posted to the program website and distributed to participants and interested
stakeholders.
Product

Performance Report
A4 SYNTHESIZE FINDINGS
Update
Protocol &
Tools
Prioritize
Information
Needs
Report
Program
Performance
Synthesize
Findings
Identify &
Adopt
Improvements
Engage Stakeholders
Figure 4.5: Synthesize Findings
The function of the Synthesis of Findings Report is to inform annual improvements. The Synthesis of
Findings Report bridges the gaps between the Governing Body, program participants, engaged scientists
and agency staff, by synthesizing learning from experience implementing the program and from new
monitoring and research findings. It is not intended to be a comprehensive review of all literature and
available information. Providing highly-nuanced recommendations with extensive discussion does not
meet the primary audience’s needs. Findings are presented in clear statements. Supporting information
should be targeted, providing the most relevant information necessary to understand the issues in context
of the program.
The Synthesis of Findings report is typically developed by the Administrator. A more formal review of
the program and committee structure is recommended to conduct a thorough review of the program and
all potentially relevant information at least every fifth year. The frequency of full program review is
defined in the Context and Scope document for the program of interest.
A4.1 CO MPIL E FIN DIN G S & DEV ELOP SYN THE SI S O F FIN DIN GS REPORT
The Administrator sends a call for input to all participants and relevant stakeholders, including posting
an invitation for input to the
program website. Findings may
Recommended Performance Report Content
address needs related to improving
The use of a standard report template both increases efficiency and
(1) the accuracy of credit estimation
enhances understanding by providing information in a consistent
and verification methods, (2) the
format. The Performance Report addresses:
effectiveness of different
 Overall credit and debit results from the past year and over the
restoration actions, and (3) the
life of the program, including progress towards goals
efficiency of program operations.
 Credits and debits within specific geographic areas of interest
The Administrator develops a
Findings Summary Table, which
identifies how each finding is
relevant to the items on the
 Accomplishments by specific programs (only those desiring to be
specifically identified in the report)
 Summary of recent and expected near-term changes
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Program Improvements List (see Step A1) and List of Areas for Investigation (see Step A2). The table also
identifies source reports and the individuals supporting the finding. The Findings Summary Table may
be reviewed by a technical committee that provides input and informs the prioritization of findings and
associated recommendations for change. The Administrator synthesizes findings that emerge from
considering the body of research, monitoring and operational information from the past year into a brief
report that is posted to the program website.
Product  Findings Summary Table
Product  Synthesis of Findings Report
A5 IDENTIFY & ADOPT PROGRAM IMPROVEMENT RECOMMENDATIONS
Update
Protocol &
Tools
Prioritize
Information
Needs
Report
Program
Performance
Synthesize
Findings
Identify &
Adopt
Improvements
Engage Stakeholders
Figure 4.6: Identify & Adopt Program Improvement Recommendations
Creating and transparently adopting clear recommendations to improve the program is the most critical
step in the annual adaptive management process. The predictability and transparency of the adjustment
process enables Credit Developers, Buyers and stakeholders to adjust practices and expectations without
causing disruptions that result in resistance to changes and increases program efficiency and
effectiveness over time.
A5.1 PROPOS E P ROGRAM IMP ROVE MEN T RE COM MEN DATION S
The Administrator solicits program participants and stakeholders to submit program improvement
recommendations by contributing suggestions to the Program Improvement List that increase the
efficiency of operations and improve the technical rigor of the program and associated tools, forms and
templates. The Administrator directly adds suggestions to the Program Improvements derived from
personal experience, conversations with program participants, results from the Performance Report, and
findings from the Synthesis of Findings Report. The process for maintaining and prioritizing the Program
Improvements List is described in Step A1: Update Program Improvements List.
Product  Updated Program Improvements List
Develop Draft Program Improvement Recommendations Memo
The Administrator reviews the Program Improvements List and identifies priority improvements to
recommend to the Governing Body for implementation. The Administrator develops a brief Program
Improvements Recommendation memo that describes the following for each recommended
improvement:




Clear statement of need for change and expected improvements to efficiency or effectiveness
resulting from implementing the change.
Description of what specific portions of documents, forms, guidance, or quantification tool will
be changed, potentially including red-line versions of recommended changes.
Identification of any potential complications or impacts the change may have to an individual
entity or to the program.
For changes that require contract resources or greater than one-month to implement, a brief
implementation plan with associated budget.
Product  Draft Program Improvement Recommendations Memo
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Gain Input on Proposed Program Improvement Recommendations
The Draft Program Improvement Recommendations Memo is posted to the program website and
disseminated to interested stakeholders for review and comment. For minor changes, it may be sufficient
to gain input through electronic communication or comment tables. However, for major changes it may
be necessary to hold specific stakeholder review meetings to discuss individual recommendations and
gain input on the proposed changes. The Administrator annually convenes an open meeting of all
interested stakeholders to discuss the full set of recommendations, as described in Step A6: Engage
Stakeholders.
Product  Stakeholder Input
Develop Final Recommendations
The Administrator reviews all input related to recommendations and makes adjustments as appropriate.
Recommendations are grouped by 1) those requiring review and discussion, 2) consent items that are
well supported and not expected to require discussion by the full Governing Body, and 3) administrative
items that are unlikely to have major ramifications, and thus do not require detailed review by the
Governing Body. Note, all Category 1 improvements implemented by the Administrator during the year
are documented and reviewed by the Governing Body to confirm that they are acceptable.
The final Program Improvement Recommendations Memo is posted to the program website and sent to
the Governing Body for review in advance of the annual Program Improvement Adoption Meeting. The
Governing Body members discuss recommendations of interest or concern with the Administrator and
consult stakeholders as necessary.
Product  Program Improvement Recommendations Memo
A5.2 ADOP T PRO GRAM I M PROVE MEN TS
At least once annually, the Governing Body meets, discusses and adopts Program Improvement
Recommendations. For policy decisions and those directly related to regulatory or funding requirements,
the decision may be to bring a proposal before relevant agency management or other decision making
authorities.
A Record of Decisions defines the agreed-to changes, the rationale, the party responsible for
implementing the changes, and the date when changes go into effect for any new projects or program
management practices. Changes do not alter the amount of credit available from previously registered
projects for the duration of the project life, and typically do not require changes to existing project
management plans or credit obligations. Any recommendations not acted upon are addressed by
providing a brief rationale and an indication of whether the recommendation may be considered at a later
date or if the recommendation has been rejected and should not be brought back in the future.
Product  Record of Decisions
A5.3 OVERSEE P ROGRAM OPE RAT IONS
A committee of the Governing Body or an independent entity conducts an independent audit of program
operations, including a detailed review of a portion of individual credit and debit sites. The audit
confirms that procedures are being consistently followed, all documentation is present and complete, and
all program management products are developed and maintained. A brief Audit Report describes the
audit procedures, findings and any proposed areas where corrective actions should be considered. The
Audit Report is made available to the Governing Body and discussed at a subsequent Governing Body
meeting. The final Audit Report is posted to the program website.
Product  Audit Report
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A5.4 RE SOLVE O UTS T AN DING DI SP UTES
As defined in the dispute resolution process defined in Step D3, the Governing Body or a committee of
the Governing Body resolves disputes between program participants that they cannot resolve together or
in consultation with the Administrator. If the dispute is in reference to regulatory requirements, the
regulatory agency has the final decision-making authority.
Product  Dispute Resolution
A6 ENGAGE STAKEHOLDERS
Update
Protocol &
Tools
Report
Program
Performance
Prioritize
Information
Needs
Synthesize
Findings
Identify &
Adopt
Improvements
Engage Stakeholders
Figure 4.7: Engage Stakeholders
Consistent stakeholder engagement is necessary to ensure the program increases understanding,
engenders support, and drives accountability. Stakeholder engagement occurs throughout the year using
the reports and products defined in Steps A1-A5, as well as through email and in-person engagements.
A6.1 MAIN T AIN PRO GRA M WEBS IT E
The Administrator maintains the program website as the central location for all information, tools and
reference materials related to the program. All products defined in Steps A1-A5 are available on the
website, including the regularly-updated Program Improvements List and List of Conservation
Opportunities. The website also informs interested stakeholders of upcoming events and meetings.
Product  Updated Program Website
A6.2 DIS TRIB UT E UP DA TE E MAILS
The Administrator maintains an ongoing list of interested stakeholders with email contact information.
The Administrator disseminates a quarterly email update to interested stakeholders including
information about progress, when reports are expected to be available for review, and upcoming
opportunities for in-person engagement.
Product  Quarterly Email Communications
A6.3 PRESEN T AT CO MM UNI TY FO RUM S
The Administrator and other participants make presentations at community events and meetings upon
request and as resources are available. This is critical to ensure local groups understand the basic
functions and role of the program and how they may be able to use the program to meet their objectives.
Product  Informed & Engaged Stakeholders
A6.4 CO NDUCT T RAIN IN GS
The Administrator or experienced technical service providers periodically conduct trainings to teach
potential program participants how to efficiently use the program, tools and forms. These trainings are
generally open to all interested parties.
Product  Informed Participants
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A6.5 CO NVEN E ANNUAL S T AKEHOL DE R M EE TIN G
The Administrator annually convenes an open meeting. This meeting is an opportunity to highlight
accomplishments and identify areas for improvement with participants and interested stakeholders. The
meeting is held after the Draft Program Improvement Recommendations Memo is posted for review.
At this annual meeting, stakeholder input should be structured such that input directly related to
identified areas of operational improvement and areas for investigation are recorded in context of the
specific need. Stakeholders also should have the opportunity to identify new needs and concerns for
consideration. Input may be added to the Program Improvements List or List of Areas for Investigation.
Stakeholder input that does not directly relate to these ongoing lists of needs is summarized and the
notes posted to the program website.
Product  Stakeholder Meeting & Summary of Input Received
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