There are several groups and organizations in the U.S. that are interested
in developing an ecosystem marketplace that could buy and
trade different ecosystem services (Katoomba, 2007; Willamette
Partnership, 2009a; Bay Bank, 2010). A multi-credit marketplace is
different than individual markets that focus on specific environmental
values. This marketplace could help a single large landowner or a
group of landowners sell wetland, endangered species, water quality
and carbon credits from the same piece of land. For example, in Oregon,
the Wiltamette Partnership received a NRCS Conservation Innovation
Grant to develop a multi-credit accounting tool to measure
and account for multiple types of ecosystem service credits for use
within the Willamette Ecosystem marketplace (Willal11ette
Partnership, 2009b). This multi-credit marketplace would be able to
take advantage of efforts to combine different ecosystem services.
Landowners were given the choice of getting multiple credits for
broader restoration, and they generally pursued this multiple credit
approach as opposed to maximizing land use for one credit type at
the possible expense of other ecosystem services. However, it is critical
to avoid "double dipping" or double counting of credits for the
same action. The Willamette COTE project addressed this issue by dividing
projects into common land cover areas and credits were allocated
by credit type within these areas. Regardless of whether
credits are stacked or services are bundled into an integrated ecosystem
service credit the development of a multi ecosystem service marketplace
has great potential of increasing revenue sources for
landowners and providing a broader suite of services into the marketplace.
These markets offer financial incentives for landowners to
maintain rather than develop their lands, and these emerging markets
highlight the potential use of market-based incentives to maintain
a broad suite of ecosystem services. Ecosystem services have
provided a new framework for a diverse coalition of conservationists,
forest landowners and other stakeholders to work together to develop
strategies for conserving ecosystem services. These new financial
incentives expand opportunities for landowners to gain revenue
from their lands while also providing public goods and services to
society