Originally published January 2 2006
Massachusetts Wetlands Bank takes criticism from environmental groups
by Mike Adams, the Health Ranger, NaturalNews Editor
Eleven environmental groups have joined in a request for the state of Massachusetts to stop spending money related to the state Wetlands Bank, which allows for the development and use of protected lands by companies, as long as those companies promise to improve or restore wetlands at some future date.
Environmental advocates yesterday attacked the State of Massachusetts for largely handing control over a wetland restoration project to a private company that they call an "environmental Enron," taking in ever-greater amounts public and private dollars while trading existing wetlands for future promises that may never be fulfilled.
In a letter sent Wednesday to Massachusetts Department of Environmental Protection Commissioner Robert Golledge and other government officials, a coalition of eleven environmental groups asked the state to stay spending on a year-old project to create a wetland restoration "bank" on the Taunton River Watershed.
At issue are state-run wetlands mitigation banks, a concept that gives "mitigation credits" that permit the destruction of otherwise protected lands in exchange for present or future promises to restore, enhance, preserve or otherwise improve wetlands elsewhere.
Critics argue that mitigation credits provide financial and regulatory cover for development projects that harm vital ecosystems and.
In allowing the credit trading, the coalition said, the state is giving Blue Wave Strategies, a politically connected environmental consulting firm, carte blanche to sell off large parts of the watershed to developers.
The state picked Blue Wave to handle many facets of the Taunton River Watershed project, including "credit trading, operations, management, and long-term monitoring," according to the company.
In addition, the firm was handed the job of identifying the proper wetlands banking site, securing permits and other legal licenses and "enabling legislation" to create the bank.
"This banking set-up puts money in the pockets of Blue Wave Strategies by making them middlemen in a wetlands shell game," New England PEER Director Kyla Bennett said in a statement.
"State regulators may be tempted to buy a supposedly painless solution to developer demands without any regard for the true, long-term costs."
Federal studies show that mitigation banks have produced mixed results.
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