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Www.thebaybank.org Bay Bank The Chesapeake’s Ecosystem Service Marketplace.

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Presentation on theme: "Www.thebaybank.org Bay Bank The Chesapeake’s Ecosystem Service Marketplace."— Presentation transcript:

1 Bay Bank The Chesapeake’s Ecosystem Service Marketplace

2 Bay Bank Description Program Components Making it Work Markets of Interest to Land Trusts LandServer Demonstration Overview

3 What is the Bay Bank? Regional, multi-credit, online marketplace Facilitate landowner access Market infrastructure Interact with existing and emerging markets and programs Markets: water quality protection, wetland conservation, habitat conservation, carbon sequestration, and forest conservation

4 Ecosystem Services Marketable Non-Marketable Marketable Non-Marketable $$$$ $$$ $$ $ Marketable Non-Marketable Marketable Non-Marketable $$$$ $$$ $$ $ The benefits people obtain from ecosystems Priceless

5 Valuing Ecosystem Services Global Environmental Services are over US $ 33 trillion annually (Costanza, 2005) Chesapeake Bay – over $24 billion annually from trees alone - more than MD seafood industry. *does not include water or recreation benefits) (Sprague et al, 2006)

6 Why is it needed? Landowners key to Chesapeake Bay watershed restoration goals Lack of market access: – High transaction costs – Lack of knowledge Goals – Lower transaction costs – Enhance transparency – High quality credits

7 Launch & First Year Operation Organization and Mgt. Habitat Conservation Carbon Sequestration Forest Conservation Water Quality Bay Bank Baseline LandServer Market Protocol Working Groups Online Marketplace Marketing and Promotion Timeline

8 Online education and outreach tool Parcel specific natural resource assessment Opportunities to enter markets for ecosystem services and conservation programs Making It Work: LandServer

9 Opportunities transferred to Bay Bank Bay Bank helps landowners evaluate multiple opportunities – Market rules – Project planning – Practice implementation – Marketplace and registry Making It Work: Bay Bank

10 Bay Bank Conservation Programs

11 Connect landowners and operators with funding for practice implementation – Focus on water quality and habitat First step toward market engagement or for participants not interested in markets Conservation Programs

12 Cooperative Conservation Partnership Initiative Conservation program guides and application assistance Helping agencies and TSPs reach landowners more efficiently Conservation Programs

13 Short guides to each major Farm Bill conservation program Link with project planning tools Application assistance Recommended practices for nutrient management Conservation Programs

14 Bay Bank Habitat Conservation Markets

15 Protection and preservation of important and rare habitat types Benefits endangered and rare species Management practices often provide water quality benefits to the Bay Habitat

16 Voluntary market – State Wildlife Action Plan implementation – Eastern brook trout, bog turtle, Delmarva fox squirrel, Atlantic white cedar, and ancient sand ridge forest – Pilot project Habitat

17 Regulatory market opportunities – Provide landowners with basic market information – Educate landowners about the process of bank development – Connect landowners with project developers – In discussion with State Highway Administration to help with mitigation obligations Habitat

18 LandServer Habitat Models – Evaluate property’s alignment with habitat priorities – SWAP data, EBTJV data, etc. Provides basic market information to spur interest Habitat

19 Project Planning Tools Provide additional education about the practice and management needs for the habitat type present Interactive tool to help landowners understand the costs and benefits of practice implementation For regulatory interest, referred to project developer For voluntary interest, stay with Bay Bank Habitat

20 Project Implementation Eligibility verified and project developed by partner organization Credit documentation submitted to Bay Bank Credits available for purchase Monitoring Habitat


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