Forest Trends' Ecosystem Marketplace is pleased to announce the release of the ‘State of the Biodiversity Markets: Offset and Compensation Programs Worldwide.’ The report, which will be provided free to the public on Ecosystem Marketplace’s main page on March 5th, expands on our initiative to track conservation banks (www.SpeciesBanking.com ) along with active and developing biodiversity offset and compensation programs around the world. The report represents a massive research effort, including: interviews and personal communication with over 60 key contacts around the world; outreach to over 60 US regulators; online research; and research of published articles and reports.
A sample of our research findings:
- The global annual biodiversity market size is $1.8-$2.9 billion at minimum, and likely much more, as 80% of existing programs are not transparent enough to estimate their market size
- 39 existing compensatory mitigation programs around the world, ranging from programs with active mitigation banking of biodiversity credits to programs channeling development impact fees to policies that drive one-off offsets
- Another 25 programs in various stages of development or investigation
- Within each active offset program, there are numerous individual offset sites, including over 600 mitigation banks worldwide
- Yearly sales volume of mitigation banking in the US is about $1.2-2.4 billion, representing the sale of ecosystem service credits from environmental restoration and preservation of habitat ranging from Florida panther habitat to coastal wetlands to California tiger salamander habitat
- US wetland and species credit prices range from about $1,500 to $600,000
For those in the Washington DC area, we would like to extend an invitation to attend the launch of the report, set for Tuesday, March 9th from 4:30-7:30 p.m. at the law offices of Hunton & Williams at 1900 K Street NW (12th floor), Washington DC. Space is limited, so please RSVP here: http://www.katoombagroup.org/signups/sbmr/.
This report is public and freely available due to the financial contributions from Ecosystem Marketplace donors: the United Nations Development Program and the Global Environment Facility; as well as our premium sponsors: Commission for Environmental Cooperation, New Forests; and sponsors: USDA Forest Service – International Programs, Markit, Grantham Foundation, eftec, and the Nature Conservancy.
On a sad note, the conservation community has lost a valuable ally with the passing of the US Fish and Wildlife Service Director Sam Hamilton this Saturday. Of endangered species, Hamilton said "Our focus is on trying to recover endangered species; our goal is to try to get them off the list. So as long as we keep our eye on that goal and work on definitions and work on policy to further that goal, we’ll be in good shape."
Read on for inspiring news on biodiversity markets.