What are the Six Elements to Nutrient Trading?
Nutrient trading for the Chesapeake Bay Program can be envisioned as a six-part model containing distinct activities, events, and roles/responsibilities. A trading program is dynamic and iterative. Below are the Negotiation Team’s recommended guidelines associated with each element: Identifying Nutrient Reduction Goals – The bay-wide goals established by the Chesapeake Bay Program for nutrient reduction or individual tributary specific goals. In the context of a trading program, these goals will correspond to and be congruent with appropriate allowances associated with tributary strategies. Determining Eligibility – Activities to determine the number and types of credits that may be traded. Eligibility identifies the form of nutrients that may be traded and provides guidelines on what entities can participate. Potential trading entities may include point and nonpoint sources that meet certain minimum qualifications. Performing Trade Administration – Identifies roles and responsibilitie
