Mitigation banking for wetlands

Abstract

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.