MULTI-CREDIT TRADING IN A PENNSYLVANIA WATERSHED

摘要

This project is one of 11 announced in conjunction with the USEPA’s release in January 2003 of itsFinal Water Quality Trading Policy. The study is working to create and implement “multi-credit”trading opportunities in the Conestoga Watershed, in conjunction with a nutrient credit trading pilotproject previously established.Multi-credit trading involves trading pollution reduction credits and ecosystem values across multipleenvironmental media, using watersheds as a basis of trade. This approach recognizes the ecosystemvalues of the watershed, i.e., its water, wetlands, habitats, riparian forests, etc., and provides multipleincentives for restoration and improvement of ecosystem functions. In multi-credit trading programs,organizations or individuals can invest in best management practices, pollution controls, or restorationprojects and earn tradable credits to sell or use toward requirements or voluntary commitmentsassociated with water quality, TMDLs, wetlands, endangered species habitat protection, or carbonsequestration.The nutrient trading pilot providing the launching pad for the multi-credit pilot is a partnership with themission of creating: a credible banking and pollutant trading pilot in the Conestoga River Watershed;and a framework for a statewide trading program that facilitates cost-effective nutrient reductionstargeted at meeting nutrient reduction goals and encourages restoration and watershed stewardship. Thepartnership includes representatives from state agencies, not-for-profits and consulting engineers,planners and economists: CH2M HILL; Chesapeake Bay Foundation; The Conservation Fund;Enterprising Environmental Solutions; Environmental Defense; and Pennsylvania Department ofEnvironmental Protection.The objectives of the multi-credit project are to: identify opportunities to expand and enhance waterquality trades and advance restoration and watershed stewardship; involve additional stakeholders whoare interested in environmental credits that can be leveraged to reduce water quality nutrient levels;develop a trading registry that supports nutrient and other credits; and develop pro-forma or actualmulti-credit trading proposals consistent with Pennsylvania’s water quality trading policies.