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Impact mitigation practices

Impact mitigation practices refer to the strategies, techniques, and measures undertaken to reduce, manage, or compensate for the adverse effects of development projects or industry operations, particularly in the energy sector. These practices are designed to minimize the negative impacts on the environment, local communities, public health, and the economy. They encompass a wide range of activities from the planning stages of a project to its execution and post-completion monitoring. The goal is to ensure sustainable development by balancing the need for energy production with environmental protection and social responsibility.

Impact mitigation can involve:

– Avoidance: Changing project plans to avoid sensitive areas or times.
– Minimization: Reducing the scale or intensity of impact through design adjustments or operational controls.
– Remediation: Repairing or restoring affected environments after an impact occurs.
– Compensation or Offsetting: Providing support for environmental or community projects elsewhere as compensation for impacts that cannot be avoided or minimized.

These practices are often guided by regulatory requirements, environmental impact assessments (EIAs), and industry best practices with the aim of preserving biodiversity, reducing greenhouse gas emissions, managing waste, protecting water resources, and ensuring that local communities benefit from or are not unduly harmed by energy projects.

For further information about impact mitigation practices, the following resources are recommended:

1) Environmental Protection Agency (EPA) – The EPA provides resources on environmental impact assessment and the mitigation of environmental effects, focusing on various sectors including energy:

2) The International Finance Corporation (IFC) – As a member of the World Bank Group, the IFC offers guidelines about environmental and social risk management, including performance standards on impact mitigation which are influential in the industry:

Please note that URLs are correct as of my knowledge cutoff date, and webpage availability may change over time.

This A.I.-generated glossary is intended to provide a convenient means to understand terminology used on this website in the context of physical commodities trading. Some terms may have alternative and/or expanded definitions that may not be relevant here and thus not included. Sources provided are for reference and not intended to be an endorsement of the broader content on that website. Suggestions, questions, or corrections can be provided in the comment box on definition pages.