Safe Harbor Agreement

A Safe Harbor Agreement is a formal arrangement between a company and environmental authorities that allows the company to proceed with certain activities—like land development or resource use—while committing to specific conservation practices. In return, the company gains protection from certain environmental regulations or penalties if they follow the agreed-upon measures. Essentially, it provides a clear plan that balances economic use of land or resources with environmental protection, reducing legal uncertainties and promoting cooperation between industry and conservation efforts.