Biodiversity Banking
Biodiversity banking is a conservation strategy that allows developers to offset their environmental impact by investing in the protection or restoration of natural habitats. This system creates a market for biodiversity credits, where one credit represents a specific amount of preserved or restored habitat. Developers can purchase these credits to compensate for the ecological damage caused by their projects, ensuring that overall biodiversity is maintained or enhanced.
The concept is often linked to ecosystem services, which are the benefits humans receive from nature, such as clean air and water. By promoting biodiversity banking, governments and organizations aim to encourage sustainable development while protecting vital ecosystems and species.