Environmental Mitigation

Environmental mitigation, compensatory mitigation, or mitigation banking, are terms used primarily by the United States government and the related environmental industry to describe projects or programs intended to offset known impacts to an existing historic or natural resource such as a stream, wetland, endangered species, archeological site or historic structure. To "mitigate" means to make less harsh or hostile. Environmental mitigation is typically a part of an environmental crediting system established by governing bodies which involves allocating debits and credits. Debits occur in situations where a natural resource has been destroyed or severely impaired and credits are given in situations where a natural resource has been deemed to be improved or preserved. Therefore, when an entity such as a business or individual has a "debit" they are required to purchase a "credit". In some cases credits are bought from "mitigation banks" which are large mitigation projects established to provide credit to multiple parties in advance of development when such compensation cannot be achieved at the development site or is not seen as beneficial to the environment. Crediting systems can allow credit to be generated in different ways. For example in the United States, projects are valued based on what the intentions of the project are which may be to restore, create, enhance, or preserve a natural resource.

Famous quotes containing the word mitigation:

    Law is a thing which is insensible, and inexorable, more beneficial and more profitious to the weak than to the strong; it admits of no mitigation nor pardon, once you have overstepped its limits.
    Titus Livius (Livy)