The Katoomba Group's Ecosystem Marketplace

Vol. 2, No. 11: December 4, 2007

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

It is the fall, the traditional harvest-time in parts of the northern hemisphere and, true to form, November brought a bumper crop of compensatory mitigation news: draft policy, new programs, new banks, deals, and other developments around the globe, from Australia to Malaysia to Taiwan to Nova Scotia to DC.

Draft policy was released by both the state of New South Wales (NSW) in Australia, and by the US Fish and Wildlife Service (USFWS). NSW released a draft assessment methodology and compliance assurance for its BioBanking program. The USFWS, meanwhile, released draft guidance for the use of 'recovery credits' — a new spin on compensatory species mitigation credit banking.

All the way across the Pacific, in Malaysia, private company New Forests Pty announced that it was partnering with the country to create the first orangutan conservation bank aimed at offsetting biofuel plantation impacts in that country. Further north, a Taiwanese presidential candidate suggested using mitigation banking as a tool to preserve the country's wetlands. And in Nova Scotia, a transportation agency received accolades for its habitat banking program.

Back in the US, the Environmental Law Institute released an insightful new report on the amount of spending for compensatory mitigation programs. The report estimates that private and public expenditures for such compensation under key federal programs total up to $3.8 billion annually. And, as if to lend the number further credence, several mitigation banking deals made their way into the news this month, from Wisconsin to Illinois to Santa Cruz, CA.

We hope you enjoy this month's bountiful harvest of mitigation banking news.

—The Ecosystem Marketplace Team

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

Malaysia to sell biodiversity credits (11/26/07)

"Malaysia is setting up of a Wildlife Habitat Conservation Bank as part of its move to sell biodiversity credits. The setting up of the bank, the first its kind outside the United States, is part of the arrangement between Sabah and an Australian company [New Forests Pty] to jointly develop a commercial wildlife habitat at the 240,000ha Malua Forest Reserve."

– Read the story
– Read the story

State biodiversity bank opens (11/23/07)

"The Biobanking scheme - like carbon trading for land - means dairy farmer Edgar Downes can be given credits for his property that has endangered gumtrees and provides habitat for koalas... In turn a developer looking to build on environmentally sensitive land elsewhere in NSW can buy credits, which gives landowners revenue that can then be used to conserve environmentally sensitive sites on a permanent basis."

– Read the story

Superior sells wetland credits to Maple school project (11/17/07)

In Wisconsin, the Superior school board agreed to sell the Maple school district two wetland mitigation credits. Maple needs the credits to offset wetlands it will fill with its expansion of Northwestern High School. They will pay $20,000 per acre. Superior School District has 23 wetland credits banked from previous construction mitigation. The city of Superior has two mitigation credit bank groups. One is run by the city the other is run by a commercial group.

– Read the story

New Research Report Assesses Costs of Mitigation of Impacts to Fish and Wildlife Habitat (11/14/07)

This report from the Environmental Law Institute (ELI) investigates federal, state, and local laws and programs that require monetary or in-kind compensation for human activities that cause significant harm to fish and wildlife habitat and the environment. The report estimates that private and public expenditures for such compensation under key federal programs total up to $3.8 billion annually.

– Read the report

Australian BioBanking Plan to Help Threatened Species (11/14/07)

"The list of plants and animals on our threatened species register is growing, helped in no small part by the increasing pressures of urbanisation and development," Ms Corbyn said. "At the same time, there are not enough incentives for landholders to protect important species habitat and look after their land for conservation...BioBanking tackles both issues and provides an economic tool to address the needs of our growing populations while ensuring our precious plants and animals survive into the future."

– Read the story

Swath of rare sandhills slated for protection (11/11/07)

189 acres of rare sandhills slated for residential development is a step closer to being persevered. The Land Trust of Santa Cruz County announced its intention to buy the land from PCO Inc., a private mitigation bank, that says it would prefer to sell this surplus property for conservation rather than move ahead with development plans for 14 homes. The land trust is raising $5.6 million it says it needs to buy and initially manage the property. The land trust would not say how much of the $5.6 million would pay for the sale.

– Read the story

Notice of Availability for Draft Recovery Crediting Guidance (11/2/07)

The U.S. Fish and Wildlife Service has released draft guidance for the use of 'recovery credits' for Federal agencies in carrying out recovery of threatened and endangered species. Under the proposed framework, Federal agencies could show specifically how adverse effects of agency activities to a listed species are offset by beneficial actions taken elsewhere for that species. The combined effects of the adverse and beneficial actions would have to provide a net conservation benefit to the species.

– Read the document

Restoring Liberty Island: Company proposes conservation bank (10/30/07)

Wildlands Inc. is considering creating a 1,000-acre conservation bank, a plan that would restore 20 percent of Liberty Island to tidal wetlands for native fish such as the rare delta smelt and Chinook salmon, and to uplands for such creatures as the rare giant garter snake. The company would sell species credits to developers who must preserve wetlands and delta smelt habitat to comply with environmental laws.

– Read the story

Taiwan DPP candidate pushes 'wetland bank' concept (10/26/07)

"Ruling Democratic Progressive Party presidential candidate Frank Hsieh proposed a "wetland bank" concept... suggesting that efforts be made to conserve and restore the country's wetlands."

– Read the story

Illinois River back on the road to health (10/24/07)

"The Illinois Department of Transportation (IDOT) is working with the Illinois Department of Natural Resources to reduce negative impacts from road and bridge projects within the river basin... IDOT is involved with a wetland mitigation bank of 2,500 acres within the river basin in Brown County."

– Read the story

Nova Scotia Transportation and Public Works receives award for habitat banking (10/16/07)

"The 2006 award will be conferred on Nova Scotia Transportation and Public Works (NSTPW) for its habitat banking initiative which features new partnership opportunities and significant environmental, economic and community benefits. The Nova Scotia department has worked with a variety of partners in developing the habitat banking program to address regulatory requirements for habitat compensation, to simplify future environmental permitting needs and to maximize the program benefits."

– Read the story
– Read the story

Draft BioBanking Material Released for Public Comment

An Assessment Methodology for the New South Wales (NSW) new BioBanking Scheme has been drafted to be used to assess the biodiversity values that the scheme is designed to protect. Also a draft Compliance Assurance Strategy was released to ensure that the NSW BioBanking Scheme is implemented lawfully, equitably and transparently and that biodiversity values are conserved and improved. Both drafts are open for public comment until February 1, 2008.

– Draft BioBanking Assessment Methodology
– Draft Compliance Assurance Strategy

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	12/04/2007 - 12/04/2007 Biodiversity Conservation: What Works, Who's Next 12/05/2007 - 12/06/2007 GreenPower Conferences - Emissions Trading in Central & Eastern Europe 02/26/2008 - 02/27/2008 Carbon Forum America: Carbon Market Trade Fair & Conference



	-	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