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

Virginia Nutrient Credit Trading Program Private Market (2009) – Financial exchange between two actors that helps regulated parties come into environmental compliance

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

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

Additionality

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

Baseline