Business Achievement: Innovation

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Resource Environmental Solutions, L.L.C. (RES; Houston, TX) for its success in bringing wetlands and stream mitigation banking to the upstream oil and gas industry. Although the majority of permits requiring wetland and stream mitigation under Section 404 of the Clean Water Act have historically tended to be for small projects, RES recognized the huge under-served need for large-scale mitigation in the booming area of oil and gas exploration and production and is focused exclusively on establishing mitigation banks for the major infrastructure development that goes along with such projects. In 2013, RES established the Upper Susquehanna River Mitigation Bank Phase 1 in Pennsylvania, thereby bringing commercial mitigation banking to the state-which has experienced substantial development of shale gas resources-for the first time. Over the past six years, RES has spent $75 million in identifying, acquiring, restoring, monitoring, and maintaining acreage under easement, primarily in the South and the Northeast. As of late 2013, the company, working with land investment and consulting and engineering partners, has restored 22,000 acres of wetlands and 12 miles of streams across 10 Army Corps of Engineers districts.

Hannon Armstrong Sustainable Infrastructure (Annapolis, MD), for becoming the first sustainable infrastructure Real Estate Investment Trust (REIT) to complete an initial public offering (IPO). Hannon Armstrong is a provider of capital for profitable, sustainable infrastructure projects that increase energy efficiency, provide cleaner energy, positively impact the environment, or make more efficient use of natural resources. Formed more than 30 years ago, Hannon Armstrong has provided or arranged more than $4.3 billion of financing in more than 450 sustainable infrastructure transactions since 2000. Hannon Armstrong went public on April 18, 2013, and is currently traded on the New York Stock Exchange. This transaction, along with a credit facility, provides the company with over $500 million to invest in sustainable infrastructure projects. The company's management team believes that climate change is a generationally defining issue and thus has implemented a clear and transparent policy stating that, in order for the company's investment committee to consider investing in a particular project, the project must result in a positive impact on the environment.