Lithium ion batteries are quintessential components of modern life. They are used to power smart devices — phones, tablets, laptops, and are rapidly becoming major elements in the automotive industry. Demand projections for lithium are skyrocketing with production struggling to keep up pace. This drive is due mostly to the rapid adoption of electric vehicles; sales of electric vehicles in 2020 are more than double what they were only a year prior. With such staggering growth it is important to understand how lithium is sourced and what that means for the environment. Will production even be capable of meeting the demand as more industries make use of this valuable element? How will the environmental impact of lithium affect growth? This thesis attempts to answer these questions as the world looks to a decade of rapid growth for lithium ion batteries.

Mitigation banks are a tool created to mitigate and compensate for negative impacts on the environment resulting from man made activities, especially damage caused to endangered wildlife, plants, and wetland ecosystems. The main objective of creating the system of mitigation banks is to achieve environmental equilibrium, meaning “No Net Loss” to all environmental functions. This means damage to one area is compensated for in another area of like-kind through restoration. There is great controversy surrounding this claim. There is a system of debits and credits to ensure ecological loss from development is preceded by restoration of a similar ecology and function. Wetland mitigation banks are the focus for the purpose of research. Background and benefits will be given first, followed by threats, issues, solutions and a personal experience with mitigation banks.