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How does it work?
Appropriate mitigation and, in some cases, compensation, are required where impacts are identified in association with :
- Site developments
- Development plans
- Strategic plans or projects
- Regional Spatial Strategies
- Local Development Frameworks
The Environment Bank Ltd undertakes a review of schemes and, in consultation on behalf of the client, with statutory nature conservation advisers, planning authorities and other stakeholders, an appropriate mitigation strategy is developed and ‘signed-up’.
A costing programme is calculated and the developer purchases credits from the Environment Bank which are used to fund the creation and/or management of an ecological or environmental resource.
The delivery of the resource is made at either the local or wider environment level. Situations also arise where credits from a range of development schemes are pooled and large sites created, providing substantial added value through landscapes that people can visit and enjoy, thereby improving their health and well being.
