Mitigation banking

Market-based system to compensate for environmental impacts to wetlands

Mitigation banking is a market-based system of debits and credits that involves restoration, creation, or enhancement of wetlands to compensate for unavoidable impacts to a wetland in another location. It involves a system of mitigation banks, sites where projects to restore, create, or enhance wetlands can be carried out in advance of impacts. The outcomes of these projects are valued through the creation of compensatory mitigation credits that can be purchased from mitigation banks to offset the negative impacts of developments or agriculture expansion on wetlands and aquatic habitats. This process is generally conducted with the aim of achieving no net loss of function and value for specific aquatic habitats, such as in terms of the biodiversity or ecosystem services provided by a wetland.

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