Summary: In my third paper I examine the efficacy of the land trust industry's effort to regulate itself through a voluntary accreditation program that requires best practices and operating standards. In my analysis I focus on the role of land trust quality in mediating the outcomes of accreditation. I find that the growth in conservation easement acreage declines after accreditation and the decline in easement growth is greatest for low quality land trusts. Additionally, I find that, accreditation affects growth of non-accredited land trusts, reducing growth of low quality, but not high-quality trusts. These results suggest that accreditation makes lower quality land trusts more selective about easements they accept and steers easements away from low quality land trusts. Self-regulation appears to be efficacious.