This initiative aims to promote private markets to maintain and improve habitat and natural resources by directly focusing reclamation, rehabilitation and conservation efforts. While the State of Wyoming will not manage individual mitigation banks, conservancy areas, or other off-site efforts, the State will need to assure that areas are managed to reclaim or maintain key habitat and natural resources. Conservation and mitigation banks and habitat exchanges are markets where sellers of land, with valuable ecosystem traits, offer credits (earned by preserving, enhancing, restoring or establishing habitat on their land) to buyers (energy companies, real estate developers) who will use the credits to conserve that particular piece of land - in exchange for land disturbed by development elsewhere. The first to gain approval in Wyoming is the Sage-grouse Habitat Conservation Bank of the Sweetwater River Conservancy. This bank will protect and manage large tracts of habitat and improve local bird populations. Credits offered will offset unavoidable impacts to sage-grouse habitat through development activities. The Wyoming Wildlife and Natural Resource Trust and Sage Grouse Implementation Team will prioritize conservation practices and restoration as these private market banks and exchanges seek suitable land for various projects.
Measurable documentation of acres maintained or improved as habitat for species of concern, and tracking efforts on an annual basis through the Wyoming Game and Fish Department.
Wyoming Wildlife and Natural Resource Trust Fund
Sage-grouse Implementation Team, Wyoming Game and Fish Department, Department of Environmental Quality, Wyoming Office of State Lands and Investments, Department of Agriculture, other Energy and Natural Resources Subcabinet Agencies, Governor’s Policy Office other local, state and federal government partners as needed, and private groups and individuals.