The effects in italics are ways in which the beaver can be problematic to humans, not the environment.
As you can see from the information above, the beaver is a paradoxical creature; it creates and destroys at the same time. Beaver dams flood valuable timber and beavers cut down thousands of trees around their dams. However, the flooding leads to increased fertility in the land, which is favorable to new plant and animal life. Also, the destruction of old growth trees provides a space for new growth trees that attract new species of animals. Even though the beaver destroys life, its actions give way to new life and help conserve the overall environment. The positive effects of the beaver on its environment far outweigh the negative effects. Beavers create and alter wetlands, creating vital habitats for different species and supporting biodiversity. Without the beaver, the numerous biodiverse wetlands that exist in the Adirondacks today would disappear and the park would suffer as it did in the late 19th century and early 20th century when there were barely any beavers left. Even though beavers are considered by many of their human neighbors as a nuisance, they play a crucial role in the environment.
Sources: "Beaver." Dec.NY.Gov. ; "Beaver Castor Canadensis." National Geographic. ; Rosell, Brozsér, Collen, Parker. "Ecological Impact of Beavers Castor Fiber and Castor Canadensis and Their Ability to Modify Ecosystems." ; Haemig, "Ecology of the Beaver.";Robbins, "Reversing Course on Beavers."
Images:
1. http://stevegreerphotograph.photoshelter.com/image/I0000PMtRJkITYJs
2. Wikimedia Commons