PARENT SESSION
Oral Session 13: Rare, Threatened, and Endangered Species I: Management I.
Presiding: H Balbach
Monday, August 2, 8:00 AM to 11:30 AM, Meeting Room D 135.

Species conservation banking: A solution to the conservation-development conflict.

Fox, Jessica^*,1, Nino-murcia, Anamaria², ¹ EPRIsolutions, Palo Alto, CA, USA² Stanford University, Palo Alto, CA, USA

ABSTRACT- Global efforts to conserve biodiversity have frequently been thwarted by developmental pressures backed by strong economic and political forces. Conservation banking is an innovative U.S. based approach offering a potential solution for protecting imperiled biodiversity while allowing for economic growth. Although species banking has been occurring since 1992, the U.S. Fish and Wildlife Service did not release federal guidance for the practice until May 2003. This report is the first to present summary statistics for all conservation banks in the United States and to estimate bankings potential to provide a solution for the conservation-development conflict over biodiversity. Of the 76 conservation banks originally reported by federal and state offices, only 36 are based on conservation banking agreements; the remainder occur under wetland banking agreements, Habitat Conservation Plans, Memorandums of Agreement, Safe Harbor Agreements, and other legal means. California leads the nation in established banks with 30 of the nations 36 official banks (11 in San Diego County alone). The banks cumulatively cover over 44,200 acres of habitat and protect a variety of plants and animals such as the golden-cheeked warbler, red-legged frog, vernal pool fairy shrimp, and the Pima pineapple cactus. While established banks do not reflect all the ideals set forth by the federal guidance, conservation banks have protected significant amounts of ecologically functioning habitat that would have otherwise been developed. Based on responses of bank owners, nearly half are breaking even on their investment (42%) and several are enjoying substantial returns. Banking is a viable land management option providing landowners an economic gain in return for maintaining habitat, thereby supporting a business-based argument for conserving land rather than building golf courses, homes, or freeways. The profitability associated with endangered species protection provides a welcome respite from the arguments that have historically polarized conservation and economic growth.

Key words: economics, biodiversity, conservation