Wetland Mitigation Banking is a market-based system created to address environmental impacts, specifically on wetlands and streams, resulting from development projects.
The process includes restoring, creating, or enhancing wetlands to counterbalance inevitable impacts on comparable ecosystems elsewhere.
By enhancing the quantity and quality of habitat, mitigation banks produce credits that can be traded to developers or other entities seeking compliance with environmental regulations.
Mitigation Banks must navigate regulatory processes to gain approval from local, state, and federal agencies, such as the U.S. Army Corps of Engineers, the Florida Department of Environmental Protection (FDEP) and local water management districts (WMD).
Each mitigation project is subject to specific environmental reviews and guidelines. Once approved, mitigation banks can generate credits that are sold to developers or businesses needing to offset their environmental impact.