What’s it about in short: comment on the recent memorandum of the US president on impact mitigation (including mitigation banking) in the United States
When was it released: November 15, 2015
By whom: Jemma Penelope
Mitigation Banking and its close cousin, Conservation Banking, are the USA’s system of Offset Banking. Following controversial fits and starts in the 1970’s and some harsh critiques in the 1990’s, these Offset Banking industries have worked so very hard to match up the dream of pre-impact mitigation and offsetting, with the reality of what is delivered on the ground.
For years now, brilliant mitigation and conservation banks have been run across the USA, and the initial compliance and ecological faux-pas have been elegantly solved through policy, regulation, and technical up-skilling across contract law, endowment finance, and conservation biology.
As the press release explains, the culmination of this process is now seen in the USA government’s recognition that to mitigate or offset unavoidable impacts of development, it is Offset Banking that delivers the best results.