Sustainability

Monetization of Conservation & Ecosystem Services

As our need for clean water, air, and permanently protected natural areas increases and as our regulations grow more complex, there is value to capture through monetizing ecosystem services and attributes. Opportunities include renewable energies like wind, solar, and geothermal sources; credits and trading for carbon and nutrients; mitigation banks for wetlands, streams and development rights; and activities such as hunting, fishing, and agri- or eco-tourism. These opportunities exist in rural areas, in the buffer areas of land uses such as quarries, landfills or large scale power plants, and within large tracts intended for conservation.

Our attorneys draw on broad experience with environmental not-for-profits, with negotiating wetland and stream mitigation banks, and with writing contracts for the carbon credits on forest and agricultural land. Additionally, McGuireWoods works with clients to capture similar values in urban settings. These dynamic opportunities include onsite sewer pre-treatment and stormwater retention. Ecosystem services are quickly merging with industrial symbiosis to create new opportunities for urban agriculture and reindustrialization.