The Energy and Water Development Appropriation Act 2024 passed the U.S. Congress last week and was signed by President Biden. The Committee specifically addressed Mitigation Banking in its report, urging the U.S. Army Corps of Engineers, which leads the program to “meet its own regulatory review guidelines” in accordance with 33 CFR 332, and to expedite credit releases.
"The Committee recognizes the impact of limited resources on the processing of mitigation bank applications, but remains concerned about delays across the Corps in permitting of mitigation banks and approving mitigation bank credit releases. The unique nature of mitigation banks requires dedicated staff with the skills to facilitate these permits efficiently and expeditiously. While the Committee understands the influx of Federal infrastructure projects due to the IIJA, it reminds the Corps it was given additional resources to address the increased demand. Unnecessary impediments in the mitigation bank approval process can lead to significant delays and increased costs for permittees of critical infrastructure, energy, commercial and industrial development projects due to the lack of available mitigation credits.
The Committee urges the Corps to meet its own regulatory review guidelines by expeditiously reviewing and approving new mitigation bank projects in accordance with 33 CFR 332 and utilizing Corps Regulatory Guidance Letter No. 19–01 to expedite credit releases when applicable. The Congress has invested in this program and expects to see progress."
1
The National Environmental Banking Association thanks both houses of Congress and the Biden Administration for continuing bipartisan support to our important industry, especially for this directive intended to address the well-known problem of long regulatory review times and slow release of mitigation credits.
Mitigation banking is often discussed in terms of credits—wetland credits, stream credits, or other units used to compensate for unavoidable environmental impacts. But the value of a mitigation bank extends far beyond the regulatory credit itself. Well-designed mitigation banks can provide a broad range of ecosystem services that benefit watersheds, wildlife, communities, and taxpayers.Cleaner Water •
Read MoreThe National Environmental Banking Association is proud to honor this year’s award recipients—leaders who exemplify innovation, integrity, and excellence in advancing mitigation banking and ecological restoration. These individuals and organizations are setting new standards for environmental outcomes, strengthening partnerships between the public and private sectors, and inspiring the next generation of restoration professionals.2026 Award WinnersAward for
Read More