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Mitigation banking is a market-based system of debits and credits (used primarily in the United States as part of its "no net loss" policy) that involves restoration, creation, or enhancement of wetlands to compensate for unavoidable impacts to a wetland in another location. [1]
"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.
Biodiversity banking emerged from wetland mitigation banking in the United States, beginning in the 1980s and arising from the no net loss policies developed with the Clean Water Act in the 1970s. [6] Since then the concept has been extended, including its application to the bond market. [7] [8]
However, the spokesperson for the new owners said their main focus is on the wetlands mitigation bank plan. Before a final decision is made on the fate of the property, it must go through several ...
NASA says KSC's mitigation bank will improve fish and wildlife habitat in the Merritt Island National Wildlife Refuge and the Indian River Lagoon. Kennedy Space Center sets aside land to offset ...
The idea of "no net loss" emerged in the United States as a goal for applying environmental mitigation measures (such as mitigation banking) to wetland conservation. [14] This was motivated by the historic and ongoing loss of wetlands - over half of the original wetlands in the lower 48 states have been lost.
Conservation banking is derived from wetland mitigation banks that were created in the early 1990s. Through Federal agency efforts, mitigation banks were created to focus on preserving wetlands, streams, and other aquatic habitats or resources and offered compensatory mitigation credits to offset unavoidable effects on the habitats or resources ...
According to a 2021 World Bank report, 641 of China’s 654 largest cities face regular flooding. This has partly been attributed to rapid urban development, which has created sprawl that encases ...