Environmental Analysis Tools - Environmental Impact Analysis: Process and Methods - page 302

r Measurable within the constraints (e.g., time and money) of the spe-
cific remediation/restoration

Even if a proposed currency meets every one of the above attributes and
more, it must be acceptable to the key decision makers. This typically includes
the overseeing regulatory authority, the proponent who will ultimately have
to pay the bill, and those directly affected by the natural resource damage
(e.g., an indigenous population losing a source of subsistence food).
If a single currency cannot be identified to reflect all aspects of a remediation
or NRDA settlement, there is potential to develop multiple currencies. Use of
multiple currencies does compromise some of the advantages of NEBA, but
sometimes it is necessary to reach agreement among stakeholders and imple-
ment a comprehensive comparison or identify just compensation for damage. If
multiple currencies are necessary, a system of scaling (i.e., assigning the worth
of one's currency in relation to the other) comparable to a monetary exchange
rate must be part of the process. This is typically done through stakeholder
negotiation, but analytical tools such as determining the relative abundance of
critical habitat attributes are available to facilitate the negotiations.
Once the currency has been established and accepted by the stakeholders,
NEBA can proceed. The first step is the design and implementation of stud-
ies and predictions addressing the currency metric(s) used to determine the
value of the credit and debit of the remediation, damage, restoration, or the
alternatives, in the case of environmental impact analysis. Once completed,
the results of the studies can be entered into the ledger and the difference
between debit and credit calculated. In the case of remediation or environ-
mental impact analysis alternatives evaluation, the delta between debit and
credit can be a critical input to the comparison and selection of an alterna-
tive. In the case of natural resource retribution, the proposed restoration and
habitat creation can be adjusted to achieve the target net benefit.

7.3.4 NEBA Examples

Two examples of NEBA represent different applications of the approach
related to environmental impact analysis. One example is of a contaminated
sediment site where the original preferred remediation was dredging and
disposal of all the contaminated material. Although an actual example, it was
done in confidence and thus is presented without specific details. The other
example is hypothetical but reflective of trade-offs that water resource and
wastewater management professionals have to face in many real-world cases.

7.3.4.1 Contaminated Sediment Remediation

Spills and operation of ongoing industrial and marine transport over decades
had resulted in significant sediment contamination adjacent to a chemical
facility. The originally proposed and standard remediation approach was