The conservation of biodiversity is now big business. Whether called conservation banking, species banking, habitat banking, biodiversity banking, biodiversity offsets, compensatory mitigation or ecological footprint offsetting, the idea of financially valuing biodiversity and using the market and businesses to promote conservation is growing rapidly.This handbook is a comprehensive guide to conservation banking explaining: what it is and how it works. The book covers the origins of conservation banking; the pros and cons of this approach to conservation, how conservation banking works in reality; the legal, practical and financial aspects of setting up and running a conservation bank; and how biodiversity off-sets can be internationalized. Authored by leading experts in the field of ecosystem markets, the book provides practical guidance, tools, case studies, analysis and insights into conservation banking in the United States, its biodiversity banking namesake in Australia and other similar approaches internationally. It is an essential one-stop reference manual for conservation organizations, private landowners, developers, complying industries, regulating agencies, policy makers, bank developers and investors in the US, Australia, Europe and elsewhere where market-based solutions to the loss of biodiversity and species extinction are being considered.
Forewords Tom Albanese Stephanie Meeks viiList of Authors xiAcknowledgements xviList of Acronyms and Abbreviations xviiList of Figures, Tables and Boxes xixOverview 1Introduction Ricardo Bayon Nathaniel Carroll Jessica Fox 4History and Theory: The Origin and Evolution of Conservation Banking Deborah L. Mead 9The Advantages and Opportunities Wayne White 33The Pitfalls and Challenges Deborah Fleischer Jessica Fox 43Establishing a Conservation Bank 51Ecological Considerations Robert Bonnie David S. Wilcove 53Legal Considerations Royal C. Gardner 69Regulatory Considerations Susan Hill 89Business Considerations Craig Denisoff 109Financial Considerations Sherry Teresa 127State of the Art 157Fish Banking Tom Cannon Howard Brown 159Getting Two for One: Opportunities and Challenges in Credit Stacking JessicaFox 171The Marine Leap: Conservation Banking and the Brave New World Tundi Agardy 181Going Global 187Biodiversity Offsets Kerry ten Kate Mira Inbar 189Australia's Biodiversity Credits James Shields 205Conclusion 221The Future of Biodiversity Offset Banking Nathaniel Carroll Ricardo Bayon Jessica Fox 223US Federal Guidance for Conservation Banks 227Template for a Conservation Bank Agreement 249Template for a Bank's Conservation Easement 267Template for a Credit Sales Agreement 281Index 289