Mitigation banks: A strategy for sustainable development

Abstract

There is a need for development alternatives that reduce ecosystem degradation. This is a premise of the sustainable development ideal. However, certain factors discourage public officials and private investors from investing in sustainable development strategies. The article makes a case for mitigation banking as a feasible alternative to surmount those negative factors and overcome the reluctance of all related parties to invest in natural capital. The Anaheim Bay Mitigation Bank is used to illustrate how mitigation banking facilitates development and environmental restoration. The conclusion is that although mitigation banks are not a panacea, they are a valuable strategy in the search for sustainable development.

Keywords:

• mitigation banking
• sustainable development