The face of mitigation banking has changed substantially over the past 10 years—from a small industry dominated by state and local governments to a quickly growing nationwide commercial enterprise dominated by entrepreneurs, according to a report released by the Environmental Law Institute. Based on a two-year study of off-site compensatory mitigation, Banks and Fees: The Status of Off-Site Wetland Mitigation in the United States, describes and analyzes wetland mitigation banks, in-lieu-fee mitigation, and umbrella banks, and recommends opportunities for improving their effectiveness.
Although permittee-responsible mitigation remains the dominant form of compensatory mitigation, the use of mitigation banks to restore, create, enhance,...