Environmental Accounting in Greater Vancouver Transportation System Planning

Transportation facility and system options for the greater Vancouver region are evaluated using the provincial guidelines for full-cost accounting. The impact of the monetized environmental accounts on the overall evaluation is presented, using facility, system option, and pricing examples from the regional plan. Within project options that are homogeneous with respect to travel demand management or modal split, environmental account values do not differ much, just as in the user cost accounts. Monetized environmental account values are two to three times smaller than the user cost in project-level cases. At the system level, in which travel demand management and modal choice are among the principal objectives, environmental benefits are decisive, whereas user benefits may be inconclusive. The estimated monetized subsidy to full costs of the automobile underpricing of personal transport has increased from 20 percent to more than 50 percent with analytical advances since 1993. Serious intangible externalities remain unmonetized, but should nevertheless be considered. Limitations of transportation demand model and data (peak spreading, 24-hr operation, and determination of vehicle speeds) require remediation for accurate environmental accounting. Fuel consumption and vehicle operating costs at low levels of service, and impacts of travel demand management on travel behavior, are decisive for system appraisals. At the project level, queueing data, level of service, and capacity must be available. Speed-and vehicle-specific emission rates are also necessary for accurate accounting at the project and system levels.