Optimizing regulatory requirements to aid in the implementation of compensatory mitigation

Governments, companies, and conservation organizations seek to minimize the impacts of development through application of the mitigation hierarchy: avoid, minimize, restore, and offset (McKenney & Kiesecker 2010). Around the world, policies and performance standards for compensatory mitigation are being strengthened not just to reduce impacts to biodiversity, but to achieve goals for biodiversity that range from “no net loss” to “net gains” (IFC 2012). Although use of offsets is still in its infancy, offsets are gaining traction globally as a goal of public policy (Madsen et al. 2011; Villarroya, Barros & Kiesecker 2014), corporate practices (Rainey et al. 2014), and lending standards (IFC 2012; Equator Principles 2013). As such, these new policies and standards will be important drivers for companies to improve mitigation practices.