The Katoomba Group's Ecosystem Marketplace

Vol. 1, No. 7: October 16, 2006

The Ecosystem Marketplace's Mitigation Mail
Conservation and Wetland News You Can Bank On

You've Got Mail

After the flurry of activity last spring in Portland, Oregon, The Ecosystem Marketplace has not been in touch with its Mitigation Mail subscribers since June. Don't worry we have not forgotten you. In fact, we've been running more original coverage of the mitigation banking sector than ever before.

In this issue, we bring you, among other things, an examination of that amorphous thing called the umbrella bank, an exploration of the ramifications of the US supreme court decision, an update on Australia's biobanking legislation, a review of the lackluster performance of Ohio mitigation banks, and a story about the promise of stream mitigation banking.

Now that the dog days of summer have come and gone – we'll be sliding Mitigation Mail into your inboxes once a month rain or shine. So look to us for all the news you can bank on in the last quarter of 2006.

—The Ecosystem Marketplace Team

If you have comments or would like to submit news stories, write to us at mitmail@ecosystemmarketplace.com.

Bidwell Ranch to become mitigation bank

According to ChicoER.com, the city of Chico has entered into a contract with River Partners to turn a local park into a mitigation bank: "The often-controversial Bidwell Ranch property adjacent to Bidwell Park is poised to become a mitigation bank. The land will be set aside land for the environment, in exchange for allowing development in other parts of the area," reports the paper.

A wetland and stream restoration project on the Skykomish River in Washington recently received approval from state, local and federal agencies to become the latest "wetland bank" under a Department of Ecology (Ecology) pilot program.

– Read the story

Biobank scheme's new push in Australia

The Australian recently reported that, "Laws allowing property developers to press ahead with projects that threaten endangered species of plants or animals if they fund a patch of conservation land elsewhere will be reintroduced by the NSW Government. The plan for a tradeable market for threatened species, first tabled in state parliament last month, has been amended to appease concerns of developers and environmentalists."

– See Ecosystem Marketplace Feature
– See article in the Australian

Agency takes species off endangered list in California

"The U.S. Fish and Wildlife Service pulled two species be pulled from the endangered list on Monday and recommended that four be downlisted from endangered to threatened on Monday, saying there's been much progress toward wildlife recovery in California.The valley elderberry longhorn beetles and the island night lizards that live in San Clemente Island were taken off the list. The Morro shoulderband snail, the Smith's blue butterfly, the least Bells vireo and the California least stern were recommended for downlisting from endangered to threatened.There was no change in status for the other six species reviewed." – San Jose Mercury News

– More on the decision

EM Scientific Insights - Issue 1

by David R. Bowne

The Ecosystem Marketplace is happy to announce the first in an ongoing series of reports about the science of ecosystem services. Interested in hearing what the scientists have to say? Watch this space for our regular update on what you should know about the latest reported findings in journals around the world.

Australians Revving Up to Bank on the Bush

by Jane Scanlon

After a long period for public comment, New South Wales' legislation concerning biobanking is due out soon. The Ecosystem Marketplace listens in on what people are saying about Australia's new Biodiversity Banking and Offsets Scheme.

Umbrella Banking Agreements: The Almost Unknown Instrument of Mitigation Banking

by Griff Behncke

There's a little known development in the mitigation banking industry that, to all but a few insiders, has flown under the radar during its recent existence: umbrella banking. Known by several names—umbrella banking, umbrella agreements, umbrella instruments—people often mention the tool, but few can say exactly what it is. The Ecosystem Marketplace provides clarification.

Ohio Study Shows Mitigation Banks Not Living Up to Potential

by Alice Kenny

The Ecosystem Marketplace finds out what a recent study says about how mitigation banks measure up over time.

A Simple Strategy for Complicated Times: EBX Charts Course in Changing Mitigation Banking Sector

by Jason Amundsen

The Ecosystem Marketplace finds out how one big mitigation bank in the Southeastern United States plans to diversify its portfolio as it navigates the challenges and opportunities in a dynamic market.

Supreme Court Decision Leaves U.S. Wetlands (and Bankers) Stuck in the Middle

by Alice Kenny

A recent U.S. Supreme Court case challenged the enforcement of the Clean Water Act with respect to wetlands on private land. The Ecosystem Marketplace takes a look at the resulting split decision and its impact on the evolving wetland mitigation banking industry.

Putting the Revenue into Streams

by Alice Kenny

Following new proposed federal regulations encouraging in-kind mitigation for protected waters in the United States, stream mitigation banking has become a hot topic. The Ecosystem Marketplace finds out what people are saying.

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	11/05/2006 - 11/06/2006 Investors' Circle Fall Conference 11/08/2006 - 11/08/2006 Water Finance & Investment Summit 11/08/2006 - 11/10/2006 Katoomba XI: Catalyzing Payments for Ecosystem Services in Africa



	-	ABN AMRO
	-	BioCarbon Fund
	-	Citigroup
	-	The David and Lucile Packard Foundation
	-	DFID
	-	FAO
	-	Forest Trends
	-	The Katoomba Group
	-	The Gordon and Betty Moore Foundation
	-	The Nature Conservancy
	-	NRCS
	-	PROFOR
	-	RedLAC
	-	USDA Forest Service