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"No Net loss" is the United States government's overall policy goal regarding wetlands preservation. The goal of the policy is to balance wetland loss due to economic development with wetlands reclamation, mitigation, and restorations efforts, so that the total acreage of wetlands in the country does not decrease, but remains constant or increases.
It supported off-site wetland mitigation in which a permittee purchases mitigation credits from a third-party mitigation bank. This entity, private, governmental, or non-governmental, promotes the no-net-loss policy by restoring or creating an area of wetland into a mitigation bank and selling compensatory mitigation credits to permittees.
"No net loss" is defined by the International Finance Corporation as "the point at which the project-related impacts on biodiversity are balanced by measures taken to avoid and minimize the project's impacts, to understand on site restoration and finally to offset significant residual impacts, if any, on an appropriate geographic scale (e.g local, landscape-level, national, regional)."
In early 2010, Lake Powell's owners submitted an application to turn the former lake into a wetlands mitigation bank, [6] credits from which could be sold to developers for up to $25,000 per acre. The plan caused immediate opposition from lake shore property owners who wanted the lake restored.
In the United States, compensatory mitigation is a commonly used form of environmental mitigation and, for some projects, it is legally required under the Clean Water Act 1972. Compensatory mitigation is defined by the US Department of Agriculture as "measures to restore, create, enhance, and preserve wetlands to offset unavoidable adverse ...
Wisconsin is home to an estimated 6 million acres of wetlands, according to the state Department of Natural Resources, adding up to about $4.6 billion annually in natural flood mitigation, by the ...
Amends the Water Resources Development Act of 1986. to assess the water resources needs of watersheds (currently only river basins and regions) of the United States. to require cost-sharing agreements for environmental protection and restoration, navigation, storm damage or hurricane protection, shoreline erosion, or recreation projects under such Act (currently, only for flood control or ...
By Leah Douglas and Julie Steenhuysen (Reuters) -California's public health department reported a possible case of bird flu in a child with mild respiratory symptoms on Tuesday, but said there was ...