[7][8] The terms used to describe biodiversity banking are dependent on the focus of conservation aims and the policies of the country or region in which it is applied.
[9] Some of the countries where biodiversity banking has been implemented include the United States, Australia, Canada, Brazil, and Colombia.
In the United States, a mitigation banking process applies to impacts on wetlands and other aquatic habitats like streams.
This involves a mitigation sequence, which requires that developers firstly avoid harm to wetlands, but if harm is considered unavoidable, then wetland habitat of similar function and values must be protected, enhanced, restored, or created to compensate for those that will be damaged.
The process comes under the section 404 of the US Clean Water Act 1972, the US Army Corps of Engineers regulations [20] and the commitment to "no net loss" of wetlands habitat.
[23] It is used to compensate for impacts on species of special concern, typically those that are listed by state and federal agencies under the U.S.
[26] The BioBanking ('Biodiversity Banking and Offsets') scheme in New South Wales started in July 2008 with the aim of achieving no net loss (or a net gain) of biodiversity [27] but has since been replaced by a 'Biodiversity Offsets Scheme' under the state Biodiversity Conservation Act 2016.
[28] BioBanking was run by the state government's Department of Environment and Climate Change as a voluntary market for biodiversity credits that could be applied as part of the planning process.
The credits represented improvement in biodiversity through conservation activities at the site and could be sold by the landowner for income and to fund the continued management of the biobank.
[34] Further research is needed to determine a clear picture of the success of habitat banking in achieving no net loss of biodiversity and ecosystem functions in Canada.
[36] Compliance with monitoring requirements was also found to be low - it was difficult to determine the effectiveness of projects in achieving no net loss.
[41] The Ministry of Environment and Sustainable Development released habitat banking regulations in June 2017 under Resolution No.
[42] It is thought that habitat banks could be used as a way to fund achievement of conservation goals (such as the National Biodiversity Strategy) while providing income and jobs for land owners and local communities.
[43] Habitat banking is being developed in England, as part of a Biodiversity Net Gain policy implemented in February 2024.
[44] Credits generated from habitat restoration at these banks can then be purchased by developers as a way to achieve a 10% gain, if it is not possible to do on the site.
[45] A management and monitoring plan is then agreed between the landowner and a regulatory body, before the land can be added to a public register of biodiversity gain sites and sell credits to developers.