Biodiversity banking
Biodiversity banking, also known as
Terminology
According to the
In practice
In practice, biodiversity banks rely on existing governmental laws, which forbid companies or individuals of buying up land in an area that houses, say a
United States
In the
Since about 2000, the term "species banking", sometimes called "conservation banking", has applied to impacts on species of special concern, typically those that are listed by state and federal agencies under the U.S.
Compensation for impacts to a stream riparian zone may also be required in relation to the linear distance of lost stream functions resulting from stream bank structures (e.g., concrete or rip rap), sedimentation, channelization, dredging or similar activities.
Australia
Two biodiversity banking schemes operating in
Listed species, critical habitat, wetlands and stream habitat are all components of biodiversity ecosystem services. Taken collectively, they may be referred to as "biodiversity banks".
Canada
In Alberta, Canada, Alberta Biodiversity Monitoring Institute (ABMI) researchers use the oil sands industry of Alberta as a case study in their paper in which they evaluated the commonly used and costly ecological equivalency-based biodiversity offset in terms of economic and ecological performance with more flexible alternative offset systems. They used ABMI's "empirically derived index of biodiversity intactness to link offsets with losses incurred by development." They evaluated ecologically equivalent areas in regards to vegetation types and regional conservation priorities such as the recovery of the boreal woodland caribou and the Dry Mixedwood natural subregion in the oil sands region. They found that flexible alternative systems like the priority-focused offsetting networks, cost 2-17 times less than the ecological equivalency-based biodiversity offset vegetation cost 2–17 times more than priority-focused networks.[2]
See also
- Biodiversity – Variety and variability of life forms
- Mitigation banking – Wetland improvement to offset development
- Conservation in Australia – Protection of biodiversity
- Environmental issues in Australia
- Economics of biodiversity
- Ecosystem services– Benefits provided by healthy nature, forests and environmental systems
- Satoyama – Japanese term for the area between flat coastal plains and interior mountain foothills
- Biodiversity offsetting – System to mitigate development of land
References
- ^
- ^ S2CID 43377681, archived from the original(PDF) on 2015-01-04
- ^ ISBN 2-8317-0854-0, archived from the original(PDF) on 28 October 2019, retrieved 4 January 2014
- ^ Banking Nature documentary
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 2012-04-02. Retrieved 2009-01-21.
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: CS1 maint: archived copy as title (link) - S2CID 53476246
- ^ Biodiversity Banking and Offsets Scheme (BioBanking) environment.nsw.gov.au
Further reading
- Bayon, Ricardo; Fox, Jessica; Carroll, Nathaniel (2007). Conservation and Biodiversity Banking A Guide to Setting Up and Running Biodiversity Credit Trading Systems. Earthscan. ISBN 978-1-84407-471-6.