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Implementing Ecosystem Crediting

September 2014

508-compliant HTML representation of Figure 1.1

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Figure 1.1: The phases and milestones for building and operating an ecosystem crediting strategy

Building a Crediting Strategy	Milestones
1. Feasibility	Adequate demand & supply of credits Supportive policies are in place for crediting The science is available to quantify credits Local leaders have the skill and willingness to implement Costs of building a strategy match expected benefits/savings
2. Convening	Identification of roles List of stakeholders and requirements of them List of potential challenges Process design completed
3. Design (Goals & Methods)	Clarify ecological and other program goals Select field and landscape-scale credit quantification methods
3. Design (Eligibility)	Define baseline requirements Set service area boundaries Establish credit project performance standards Set timing, duration, and maintenance requirements for credits
3. Design (Verification, Certification, & Reporting)	Define what gets verified, by whom, and when Clarify role for agencies approving credit transactions Establish reporting rules and database
3. Design (Ratios, Liability, Infrastructure, & Testing)	Set trading ratios for uncertainty and other factors Define other liability and enforcement tools Build necessary infrastructure to make crediting easy
Operating a Crediting Strategy	Milestones
4. Testing	Do a test pilot to make sure the crediting strategy design matches local capacities and ecological realities
5. Agreement	Secure formal strategy agreement with agency approval
6. Operations	Establish strategy governance structure Complete strategy user’s guide Set pricing structure Provide training for participants Agree to business plan for sustaining strategy operations
7. Adaptive Management	Annual report on strategy results Agree to changes needed to quantification methods and strategy designs List of needed information and research Make strategy improvements over time

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