Environmental Analysis Tools - Environmental Impact Analysis: Process and Methods - page 297

The quantification of environmental value is at the base of NEBA and
applies to both achieving maximum environmental benefit for each dollar
spent and NRDA addressing an excess ecological damage from hazardous
waste remediation. Applying the tool of NRDA, the loss of value from the
hazardous waste insult is measured and integrated over time (the debit).
Then an environmental improvement is proposed, including at least par-
tial restoration of the damaged resource and the value gained projected into
the future (the credit), with the net benefit being the difference in debit and
credit measured as the difference in the areas under the curves (Figure 7.11).
A similar process is followed in selecting a remediation alternative that
produces the greatest environmental benefit or achieves the greatest environ-
mental value per-remediation dollar expended. The total environmental value
following cleanup is calculated for each remedial alternative, including consid-
erations such as:
r Ecological restoration following remediation
r Off-site compensation achieved through habitat creation
r Ecological value gained by purchasing or otherwise ensuring pres-
ervation of ecologically valued areas
r Discount for time required for restoration and habitat creation to
reach full value
r Diminished value if low levels of contaminants are left on site
r Remaining value of current environmental resources destroyed
through soil removal or other remediation activities
r Credits for natural attenuation in areas of little or no active
remediation
Area B - Services provided (credit)
B
A
Area A - Services lost (debit)
Years
FIGURE 7.11
Application of net environmental benefit analysis to natural resource damage.