Resource description:
This video provides an overview of US stream and wetland compliance markets, where the federal permitting agencies have maintained an online registry and repository for compensatory mitigation projects for nearly two decades. Referred to as RIBITS, the U.S.'s Regulatory In lieu Fee and Banking Instrument Tracking System houses information related to mitigation banks and in-lieu-fee programs across the US, including the contracts, credit ledgers, monitoring information for each bank/program and the standards that underpin their development. This session will familiarize people with the structure of RIBITs and demonstrate how to navigate through the website to find a range of information that may serve as useful examples for related projects.
The session is led by Dr. Hannah Rudman (Senior Research Fellow at James Hutton Institute), Julia McCarthy (Research Associate at University of Edinburgh) and Becca Madsen (Director of the Restoration Economy Center at the Environmental Policy Innovation Center). It includes:
- An introduction of key terminology and background on reporting requirements within US compensatory mitigation markets
- A ‘live’ tour and demo of RIBITs
- A brief overview of RIBITs useful functionalities and challenges, as well as some emerging alternatives.
This event is co-hosted by the Integrating Nature Finance and Biodiversity programme, Environmental Policy Innovation Center and the Centre for Sustainable Forests and Landscapes at University of Edinburgh.
Author/Contact:
Julia McCarthy