EconPapers    
Economics at your fingertips  
 

Mitigation bank applications for freshwater systems: Control mechanisms, project complexity, and caveats

Sebastian Theis and Mark Poesch

PLOS ONE, 2024, vol. 19, issue 2, 1-22

Abstract: Biodiversity and mitigation banking has become a popular alternative offsetting mechanism, especially for freshwater species and systems. Central to this increase in popularity is the need for sound control mechanisms to ensure offset functionality. Two commonly used mechanisms are monitoring requirements and staggered release of bank credits over time. We used data from 47 banks in the United States, targeting freshwater systems and species. Based on the 47 banks meeting our criteria we showed that control mechanisms generally scale with increased project complexity and that banks release most of their total credit amount within the first 3 years. We further showed that advance credits are common and can increase the potential for credit release without providing tangible ecological benefits. Physical and biological assessment criteria commonly used by banks let us identify three main bank types focusing on connectivity, physical aspects, and habitat and species and their application possibilities and caveats to provide different ecosystem benefits for freshwater species and systems affected by anthropogenic development.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0292702 (text/html)
https://journals.plos.org/plosone/article/file?id= ... 92702&type=printable (application/pdf)

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: https://EconPapers.repec.org/RePEc:plo:pone00:0292702

DOI: 10.1371/journal.pone.0292702

Access Statistics for this article

More articles in PLOS ONE from Public Library of Science
Bibliographic data for series maintained by plosone ().

 
Page updated 2025-06-07
Handle: RePEc:plo:pone00:0292702