Economics at your fingertips  

Should We Be Wary of Mitigation Banking? Evidence Regarding the Risks Associated with this Wetland Offset Arrangement in Florida

Harold Levrel, Pierre Scemama and Anne-Charlotte Vaissière

Ecological Economics, 2017, vol. 135, issue C, 136-149

Abstract: This paper describes and analyzes the risks associated with using mitigation banking for the conservation of wetlands in Florida in the United States. First, we attempt to identify and summarize the main ecological and socio-economic risks regarding mitigation banking that have been discussed in previous studies. Then we analyze the institutional responses adopted by US regulators to limit these risks. We have used empirical evidence including interviews and data analysis to assess the effectiveness of these responses. Our main findings are that the recent regulatory responses adopted to face risks associated with mitigation banking seem to be more effective than what is often assumed. These responses are underpinned by the emergence of a hybrid mode of governance that combines market characteristics and regulatory constraints, and which contributes to enforcing wetland compensation in Florida. However, we also observed some risks inherent in this system, in particular the redistribution of ecosystem services, as the distance between impact sites and compensation sites seems to have increased in Florida in the last several years. In addition, the question is still pending regarding whether or not No Net Loss of wetlands is really achieved through mitigation banking.

Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Ecological Economics is currently edited by C. J. Cleveland

More articles in Ecological Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

Page updated 2019-09-24
Handle: RePEc:eee:ecolec:v:135:y:2017:i:c:p:136-149