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Wildlife banking gets a marketplace mongabay.com December 9, 2008
Speciesbanking.com will provide a marketplace for the emerging conservation banking market. It will initially focus on U.S. deals but hopes to eventually expand into other countries as markets develop. "SpeciesBanking.com will serve as a platform for conservation bank owners to publicize credit availability, credit buyers to find solutions to their mitigation needs, and prospective bank developers to research current market conditions," said Ecosystem Marketplace in a statement. "It will also allow agency staff to learn about activities outside their jurisdictions, and academics, investors, and others to monitor and analyze industry trends." "The ultimate goal of speciesbanking.com is to facilitate species credit trading as an effective tool for the conservation of threatened and endangered species and their habitat." Conservation banks are a market response to regulations limiting development due to environmental concerns. The U.S. Fish & Wildlife Service explains on its web site:
The U.S. Fish and Wildlife Service (FWS) approves habitat or species credits based on the natural resource values on the bank lands. In exchange for permanently protecting the bank lands and managing them for listed and other at-risk species, conservation bank owners may sell credits to developers or others who need to compensate for the environmental impacts of their projects. Related Private equity seek profit from rainforest wildlife conservation August 13, 2008 An investment firm has launched the first tropical biodiversity credits scheme. New Forests, a Sydney, Australia-based company, has established the Malua Wildlife Habitat Conservation Bank in Malaysia as an attempt to monetize rainforest conservation. The "Malua BioBank" will use an investment from a private equity fund to restore and protect 34,000 hectares (80,000 acres) of formerly logged forest that serves as a buffer between biologically-rich forest reserve and a sea of oil palm plantations.
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