Home arrow arrow Bay Area Nutrient Trading Endorsed by protection group

Bay Area Nutrient Trading Endorsed by protection group

By on March 13, 2007

Great to see the Chesapeake Bay Foundation endorse the Pennsylvania nutrient trading program here.
Nutrient trading, as the Cheaseapeak Bay FOundaiton says below, is a way to acheive the maximum benefit of a given regulation at the lowest cost.
North Carolina has no active nutrient trading program.  Though a trading program for the Tar-Pamilico River basin has long been in effect, and was far-sighted for its’ day, it has resulted in very little activity.
Why? Because the regulatory caps on what triggers demand and trades are too high…in others words you need strong and effective regulatory caps to drive regular and productive trades — we need to work on that in the Tar-Pam.
In any case, here is the progress being made in the Bay area.
PA nutrient trading plan deserves looking into
Message from the Executive Director
By David Bancroft

Nutrient trading is quickly becoming one of the major strategies in the Chesapeake Bay restoration process. Enabling the least-cost pollution reductions in subwatersheds to occur first and bringing market forces to bear on cleanup efforts helps to ensure that the citizens of the region get the most pounds of nutrient and sediment pollution reduction per dollar expended.

Legislation passed by the Virginia General Assembly earlier in 2005, and signed by Gov. Mark Warner, established the first point source, watershed-based, nutrient trading system in the Bay region. This plan allows point source dischargers in the state’s subwatersheds to buy and sell credits from each other to help meet their 2010 nutrient reduction goals.

In September 2005, the Pennsylvania Department of Environmental Protection issued draft policies that would establish the first point source and nonpoint source nutrient trading program in the Bay watershed. In addition, it would allow for third party participation in the purchase or exchange of nutrient credits. This is a major step…”

More here….