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Builders to fund biodiversity protection project
28/05/10
Edited by Tom Bardsley. A new pilot scheme has been launched that asks builders to buy "conservation credits" to fund the restoration of wildlife habitats in a bid to counterbalance the impact of development.
The project is being run by the Environment Bank in partnership with the Wildfowl & Wetlands Trust and wildlife trusts in Wilshire, Gloucestershire and Oxfordshire, Building reports.
Under the initiative, developers' credits will be used to fund conservation work designed to reconnect fragmented habitats across 1,000 square miles of land.
In addition to creating new wetlands, woodlands and grasslands, the organisers hope to support flood mitigation and measures that will increase carbon storage to help the fight against climate change.
Environment Bank managing director Rob Gillespie said: "We believe this pilot should work because it's the first time we're applying a market-based mechanism for enormous long-term benefits."
The company has previously supported the development of UK and local biodiversity action plans, as well as the creation of wetlands next to or networked with existing conservation areas.
