Mitigation Banking for Wetlands
The concept of mitigation banking relates to the “banking” of habitat preserved, enhanced, restored, or created, which may then be used to offset harm to other nearby habitats from development activities, particularly to a wetland, stream, or habitat conservation area. The intended outcome is to replace like-for-like the functions and values provided by wetland habitats that may be converted or otherwise adversely affected by proposed development activities. Under mitigation banking, “banked” wetland enhancement or creation schemes can be sold to development proponents as habitat compensation required by enforcement agencies. The USA has been a leading nation in implementing mitigation banking.
KeywordsHabitat banking Mitigation Mitigation credits Development Compensation Clean water act Interagency review team Mitigation sequence
- US EPA. Mitigation Banking Factsheet: Compensating for Impacts to Wetlands and Streams. US Environmental Protection Agency. n.d.-a. [online] http://water.epa.gov/lawsregs/guidance/wetlands/mitbanking.cfm. Accessed 5 Aug 2014.
- US EPA. Summary of the Clean Water Act: 33 U.S.C. §1251 et seq. (1972). US Environmental Protection Agency. n.d.-b. [online] http://www2.epa.gov/laws-regulations/summary-clean-water-act. Accessed 5 Aug 2014.
- US EPA. Compensatory mitigation resources. US Environmental Protection Agency. n.d.-c. [online] http://water.epa.gov/lawsregs/guidance/wetlands/upload/2003_05_30_wetlands_CMitigation.pdf. Accessed 5 Aug 2014.