The continued growth of mitigation banking represents the very real potential that environmental destruction can be reversed. The Montebello Mitigation Bank is such an example, restoring, enhancing and preserving in-perpetuity, streams and riparian buffers across more than 513 acres.
FREE DOWNLOAD
Montebello Mitigation Bank Tearsheet
Over the long term, buying credits in a mitigation bank is generally less costly than permittee-responsible efforts, particularly when the cost of the additional permitting process is added to the construction and other tasks. Moreover, mitigation requirements including establishing protective easements and long-term monitoring/reporting can prove costly and time-consuming for those wishing to do the mitigation themselves.
Investopedia explores mitigation banking in a smart, concise piece about the system of credits and debits devised to ensure that ecological loss to wetlands, streams and species is compensated for by the restoration and preservation of wetlands, streams and natural habitats, in other areas so that there is no net loss to the environment. To mitigate means to reduce the severity of something, in this case, the damage caused to the environment.
“According to National Environmental Banking Association (NEBA), mitigation banking is defined as “the restoration, creation, enhancement, or preservation of a wetland, stream, or other habitat area undertaken expressly for the purpose of compensating for unavoidable resource losses.”
Read More via www.investopedia.com