I met Pat O’Connell, President of Evergreen Conservation Finance, at the Katoomba Meetings. Yesterday we had a broad discussion on ecosystem service finance, conservation finance, and utility finance. He brought up the following recent news on Pennsylvania’s nutrient trading program:
“Robert J. Fisher, President of R. J. Fisher & Associates and Chairman
of the Pennsylvania Builders Association’s Chesapeake Bay Tributary
Strategy Task Force, expressed disappointment that proposals to enhance
certain aspects of the state’s trading program did not move forward at
budget time. “Nutrient trading holds significant promise for holding costs
down and accommodating future economic growth,” Fisher said. “But due to a
number of flaws with the current structure and implementation of the
trading program, it has not been viewed as a viable option either by
potential credit users or generators. We had hoped that our recommendations
for the program could have moved forward before the summer recess, as
opportunities are lost with each month that the trading program needs are
left unresolved.
“Fisher did note the Senate will schedule a hearing on nutrient credit
trading legislation introduced by Sen. Vance (R-Cumberland). He also
reported that SB 1341 was amended last week to include the purchase or
trading of nutrient credits as an allowable use of those funds.”
Richard Pace 