August 21, 2024

Mitigation Banking Basics – Primer from the Former Assistant Secretary of the Army

Industry News, Policy

"Mitigation banking is a little-known and sometimes misunderstood system" writes John Paul Woodley, then Assistant Secretary of the Army (Civil Works) under President George W. Bush as he introduces mitigation banks and banking in his thoughtful piece 'Mitigation for Aquatic Resource Impacts: A Primer on Mitigation Banking', offering a clear and concise introduction to mitigation bank establishment and the importance of banks in offsetting unavoidable environmental impacts.

Woodley, current Chairman of the National Mitigation Banking Association, is the recognized authority on the 2008 Final Mitigation Rule (Rule) which bears his signature and which he enacted as then-Secretary under the Bush Administration.

U.S. Army Corps regulations require that unavoidable impacts to jurisdictional waters must be offset by appropriate compensatory mitigation with the goal of no-net-loss of wetlands or streams. The Rule allows the mitigation banking industry to respond, with significant private investment, to some of the most complex and challenging environmental problems facing U.S. water resources today.

Read Mitigation for Aquatic Resource Impacts: A Primer on Mitigation Banking by John Paul Woodley

 Previous
Next
View Comments

You may also like

Why Mitigation Banking Needs a Strong Unified Voice—Now More Than Ever

The mitigation banking industry is at a pivotal moment. Regulatory shifts, evolving interpretations of the 2008 Mitigation Rule, and increasing pressure from alternative mitigation programs are reshaping the landscape. In this environment, a unified voice is not just beneficial—it’s essential. That’s where membership in the National Environmental Banking Association (NEBA) makes a difference. NEBA represents mitigation bankers, environmental

Read More

The Hidden Risks Behind Advance Credits: A Billion-Dollar Gamble Revisited

According to US Army Corps of Engineers (USACE) data, there are more than 8 million Advance Mitigation Credits sitting on the ledgers of the many dozens of In-Lieu Fee (ILF) Programs across the United States today, nearly all of which are exempt from any financial assurance that the mitigation projects will actually be performed. According to

Read More

Subscribe to our newsletter now!