Virginia Nutrient Credit Trading Program Private Market (2009) - - PowerPoint PPT Presentation

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Jan 18, 2024 114 likes •206 views

Virginia Nutrient Credit Trading Program Private Market (2009) Financial exchange between two actors that helps regulated parties come into environmental compliance Chesapeake Bay 1) Nations largest estuary, perhaps 3 rd largest in the

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Virginia Nutrient Credit Trading Program

Private Market (2009) – Financial exchange between two actors that helps regulated parties come into environmental compliance

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Chesapeake Bay

1) Nation’s largest estuary, perhaps 3rd largest in the world 2) National treasure, but highly impaired 3) Non-point primary source of impairment

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VA Nutrient Credit Trading Program

Opened in 2009 – substantial prices for non-point credits 140+ non-point facilities (~80% CBW, ~20% SR, ~10-750lb. 4.5-340 kg P) 7,845lbs (2,466 kg) P released, 54,380lbs (24,666 kg) N released 50%+ have been purchased, prices fluctuate $8.8k to $22.5k (average ~$20k; multimillion, but declining?) VDOT (~35%), private development (~55%), municipalities

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Additionality

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Deed restricted easement (400 tpa, 988 tph, management allowed) Open land / agricultural retirement

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Baseline

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