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Forest Mitigation Banking Addressing the barriers to entry Craig Highfield Director of Chesapeake Forests [email protected]

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Page 1: Forest Mitigation Banking - Marylanddnr.maryland.gov/met/Documents/Forest-Mitigation-Banking.pdf · development and their associated infrastructure, such as roads, utilities, and

Forest Mitigation Banking Addressing the barriers to entry

Craig Highfield Director of Chesapeake Forests [email protected]

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Chesapeake Forests

1.Outreach and Education

2.Forest Restoration

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Investing in the Chesapeake Bay’s Conservation Marketplace

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1991

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Forest mitigation options • On site • Off site • Fee in lieu • Credit from a established Forest Bank

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Forest mitigation options • On site • Off site • Fee in lieu • Credit from a established Forest Bank

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Carroll County Forest Conservation Ordinance • On site • Off site • Fee in lieu • Afforestation only • Credit from a established Forest Bank

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Maryland Agriculture Resource Based Industry Development Corporation

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•High upfront costs to establish forest credits.

• Lack of reliable and easy-to-understand resources on the local forest banking programs.

• Insufficient number of services providers in the region available to guide interested landowners through the process.

•Risk of no economic return.

Perceived Landowner Barriers to Entry

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Sustainable Conservation Investment Fund:

An impact investment Approach for Chesapeake Farms and Forests

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www.forestsforthebay.org

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• Virginia Nutrient Trading Program • Maryland Forest Conservation Banking programs • Maryland Critical Areas Banking Program • Maryland Nutrient Trading Program*

Ecosystem Markets

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Thank you

Marylanddnr.maryland.gov/parkquest/Documents/2019/Cedarville_Map.pdf · Located in Prince Georges and Charles Counties, Cedarville State Forest is about 25 miles south of Washington,

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