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Exploringtradinginwaterqualitycreditsasacost-effectiveapproachformanagingwaterqualityinthe
GreatBarrierReef
Jim Smart, Syezlin Hasan, Adrian Volders, Andrew Buckwell, Peter Dew, Graeme Curwen, Chris Fleming, Poh-Ling Tan, Michele Burford
NESP Science Day - Townsville20th November 2017
NESPTWQProject3.1.6
photoiStock
Project3.1.6objectives:
• determine thescope forwaterqualitycredittradingwithintheGBRcatchments
• develop appropriateconfigurations forcredittradingframeworksforDINandsediment inrepresentativecatchmentsalongtheReefcoast
• estimate howrevenuesfromcredittradingcouldpotentiallystimulateruraleconomiesandcreatejobsbyincentivising innovativebusinessopportunitiesforsupplyingnitrogenandsedimentcredits
STP
UrbanDev
Aquaculture
Farm1
Farm2
GullyRemediation
Demandforoffsets Supplyofoffsets
Bilateralcredittrading(perhaps‘sole-sourceoffsets’)
DINcreditsexpansion wetland
IPA
$$$
STP
UrbanDev
Aquaculture
Farm1
Farm2
Demandforoffsets Supplyofoffsets
Bilateralcredittrading(perhaps‘sole-sourceoffsets’)
DINcreditsexpansion wetland
practicechange
GullyRemediation
IPA
$$$
$$
STP
UrbanDev
Aquaculture
Farm1
Farm2
Demandforoffsets Supplyofoffsets
Bilateralcredittrading(and‘sole-sourceoffsets’)
DINcredits
$$
$$$
expansion
intensify
new
IPA
GullyRemediation
$$$
$$
STP
UrbanDev
Aquaculture
Farm1
Farm2
Demandforoffsets Supplyofoffsets
Bilateralcredittrading(and‘sole-sourceoffsets’)
$$$
DINcredits
$$
expansion wetland
practicechange
IPA
GullyRemediation$$$$
sedimentcredits
$$
$$$
STP
UrbanDev
Aquaculture
Farm1
Farm2
Demandforoffsets Supplyofoffsets
Bilateralcredittrading(perhaps‘sole-sourceoffsets’)
DINcredits
$$
$$$
expansion
intensify
new
IPA
GullyRemediation
$$$
$$
$$$$sedimentcreditsRegulator
STP
UrbanDev
Aquaculture
Farm1
Farm2
Demandforoffsets Supplyofoffsets
Bilateralcredittrading(perhaps‘sole-sourceoffsets’)
DINcredits
$$
$$$
expansion
intensify
new
IPA
GullyRemediation
$$$
$$
$$$$sedimentcreditsRegulator
Transactioncostshigh
Transactioncostshigh
EnvironAggregator
STP
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
expansionortighten
termsofEA
$
new
intensify
$$
$$
EnvironAggregator
STP $$
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
$
$$
$$$$$
new
intensify
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
DINcredits$$
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
Supplyofcreditse.g.viareverseauction
DINcredits$$
$$$$$
new
bioreactor
coastalwetland
$$
$$
Practicechange(CtoB)
wetland
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$
new
bioreactor
DINcredits$$
DINcredits$$
MaximiseDINreductionwithinbudgetconstraint
$$
$$wetland
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Supplyofcredits
e.g.viareverseauction
coastalwetland
Practicechange(CtoB)
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$
new
bioreactor
DINcredits$$
MaximiseDINreductionwithinbudgetconstraint
$$
$$wetland
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Supplyofcredits
e.g.viareverseauction
coastalwetland
Practicechange(CtoB)
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$
new
bioreactor
DINcredits$$
MaximiseDINreductionwithinbudgetconstraint
$$
$$wetland
sufficientDIN
reductions?
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Supplyofcredits
e.g.viareverseauction
coastalwetland
Practicechange(CtoB)
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$
new
bioreactor
DINcredits$$
MaximiseDINreductionwithinbudgetconstraint
$$
$$wetland
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Supplyofcredits
e.g.viareverseauction
coastalwetland
Practicechange(CtoB)
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$
new
bioreactor
DINcredits$$
MaximiseDINreductionwithinbudgetconstraint
$$
$$wetland
sufficientDIN
reductions?
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Supplyofcredits
e.g.viareverseauction
coastalwetland
Practicechange(CtoB)
expansionortighten
termsofEA
offsettradingratio?
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$$$
new
bioreactor
DINcredits$$
DINcredits$$
$$
Increase budgettoachieverequiredDINoffset
$$
$$wetland
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Supplyofcredits
e.g.viareverseauction
coastalwetland
Practicechange(CtoB)
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$$$
new
wetland
bioreactor
DINcredits$$
DINcredits$$
$$
Increase budgettoachieverequiredDINoffset
$$
$$
Transactioncostslow
Transactioncostshigh
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Supplyofcredits
e.g.viareverseauction
coastalwetland
Practicechange(CtoB)
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits@fixedoffsetpricing
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$$$
new
wetland
bioreactor
DINcredits$$
DINcredits$$
$$
Increase budgettoachieverequiredDINoffset
$$
$$
Transactioncostslow
Transactioncostshigh
Centralisedcredittrading(‘brokeredoffsets’,‘clearinghouse’)Supplyofcredits
e.g.viareverseauction
coastalwetland
Practicechange(CtoB)
expansionortighten
termsofEA
offsettradingratio?
Conflictingtensions• Lowtransactioncostsencourageparticipation(bothdemand&supply)• ‘Flatrate’pricingforoffsetpurchaseandcreditsupplyreducestransactioncosts
• Notalloffsetsareequallybenign[varyoffsetpricesortradingratiobylocation]• Notallcreditsareequallyeffective[varyofferpricesbylocation]• Economicefficiency?– ‘chargefordamagerisk’&‘payforwhatyouget’
• Usetradingratiotocovervariationsinconsequencesandeffectiveness• Tradingratiotoohigh– notenoughdemandforoffsets• Tradingratiotoolow– notenough$$$$forcreditsupply
• Whatcanwelearnfromotherschemes?
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$
new
bioreactor
DINcredits$$
MaximiseDINreductionwithinbudgetconstraint
$$
$$wetland
Supplyofcredits
coastalwetland
Practicechange(CtoB)
Demandforcredits
expansionortighten
termsofEA
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits
Aquaculture
UrbanDev
intensify
$
$
$$
$$$$$$$
new
bioreactor
DINcredits$$
MaximiseDINreductionwithinbudgetconstraint
$$
$$wetland
Supplyofoffsets
coastalwetland
Practicechange(CtoB)
Supplyofcredits
expansionortighten
termsofEA
• Broadranginginternationalliteratureonwaterqualitytradingexamined• Literaturereviewexamined30majorstudies onwaterqualitytradingand
morethan50individualwaterqualitytradingschemes.• MajorityofstudiesfocusedontheUnitedStateswhereTMDLimposedunder
theCleanWaterActhavefacilitatedstate/territory,watershedandlocaltradingschemes
• USEPAhasactivelyencouragedtradingascosteffectivewaytomeetregulatedpointsourceloadlimitsandaddressdiffusepollution
• Virtuallyalltradingschemesinvolvedpoint/non-pointtradingschemesandthetradingofnitrogenandphosphorus
• Typicalmarketinvolvesaheavilyregulatedpointsourcebuyingcreditsfromnon-regulatednon-pointsources
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
• DemandDriversandSupplyBarriers– Tighteningregulatorystandardsforpointsourcedischargesonthebasis
ofrecognised environmentalproblems– Inadequateandpoorlyenforcedregulationisidentifiedasthegreatest
barriertoimplementingasuccessfulwaterqualitytradingscheme– Demandforcreditsfrompointsourcesislimitedbygenerouslicense
conditionsandpoorenforcement– Supplyofcreditsislimitedbylandownersconcernsthatdemonstrating
lowcostreductionsmayincreasecaseforregulation– Meaningfulsupplyanddemandinwaterqualitymarketswillonlyoccur
withstrongregulationandenforcementofpollutionallowancesforbothpointandnon-pointsources(King2005).
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
– SuccessFactors(USEPA)• singlepollutantincommonform,• appropriatewatershedconditions(proximityofdischargers,presenceoftributaries,orcomplexityofhydrology)thatallowreliablerelationshipsbetweenloadreductionsandwaterqualityinreceivingwaters,
• incrementalcostsoftradinglowrelativetotheincrementalcostsofothercontroloptions,
• appropriatemarketstructurefortransactingtrades
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
– OtherKeySuccessFactors• transparency• clearlydelineatedrolesandresponsibilities• thirdpartybrokers• stakeholderparticipationinruledevelopment• thirdpartyverification• moveawayfromstatesubsidiesofBMPpracticestostimulatecreditsupply
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
– KeyChallenges• concernsaboutincreasedliability,• potentiallyhightransactioncosts,• concernthatcomplicatedtradingproceduresmightresultindelaysinreceivingpayments
• resistancetobringinggovernmentemployeesontoprivateland,
• fearthattradingruleswillchange.
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits
Aquaculture
UrbanDev
intensify
$
$$
$$$$$$$$$$$
expansionortermsofEA
new
bioreactor
DINcredits$$
Maximisecreditsupplywithinbudgetconstraint
DIN$$
DIN$$wetland
Supplyofcredits
coastalwetland
Practicechange(CtoB)
Demandforcredits
NGO
DIN$
Airline
BioDcredits$$
‘Co-benefits’
Estimatingpotentialdemandforcredits• GISmappingofexistingpointsourcesandtheirlicenceconditions• predictionsfornewdevelopments:residential/industrialexpansion,farming/aquacultureexpansion
Stimulatingdemandforcredits• considergovernancearrangements• design‘demandside’structuretoencourageparticipation(butstillensure
environmentalobjectivesareachieved)• tighteningexistinglicence conditions• facilitateprivatemarketinvestmentsinReefcredits• opportunitiesfor‘co-benefits’todeepenthepoolofcreditbuyersand
strengthencreditdemand(e.g.carbon+nitrogen,otherGHG+sediment,carbon+nitrogen+biodiversityetc.)
EnvironAggregator
STP Farm1
Farm2
NGO
IPA
Demandforcredits
Aquaculture
UrbanDev
intensify
$
$$
$$$$$$$$$$$
expansionortermsofEA
new
bioreactor
DINcredits$$
Maximisecreditsupplywithinbudgetconstraint
DIN$$
DIN$$wetland
Supplyofcredits
coastalwetland
Practicechange(CtoB)
NGO
DIN$
Airline
BioDcredits$$
‘creditstacking’
Estimatingpotentialsupplyofcredits
• SpatialpredictionofDINlossesandgrossmarginsfromcane(&bananas)inTullycatchment
• Model@250mx250mresolutionfromearlierNESPN-tradingproject• OverlayDINlosspredictionsfromReefProjectPrioritiser tool
EstimatingpotentialsupplyofcreditsSpatialpredictionofDINlossesandgrossmarginsfromcane(&bananas)inTullycatchment
• simulate@250mx250mresolutionfromearlierNESPN-tradingproject• overlayDINlosspredictionsfromReefProjectPrioritiser tool
• predictspatially-specificcreditsupply(DINcredits@source),basedoncoveringforgonegrossmarginand‘transport’downcatchmenttoReefLagoon
• estimatesupplycurvefortotalcreditexpenditurevsDINreductioninreceivingwater
• coveringforgonegrossmargin• includetransactioncosts• include%non-participation
Supplycost($)
DINloadreduction(tonnes)
EstimatingpotentialsupplyofcreditsSpatialpredictionofDINlossesandgrossmarginsfromcane(&bananas)inTullycatchment
• simulate@250mx250mresolutionfromearlierNESPN-tradingproject• overlayDINlosspredictionsfromReefProjectPrioritiser tool
• predictspatially-specificcreditsupply(DINcredits@source),basedonforgonegrossmarginand‘transport’downcatchmenttoReefLagoon
• estimatesupplycurvefortotalcreditexpenditurevsDINreductioninreceivingwater
• coveringforgonegrossmargin• includetransactioncosts• include%non-participation
• creditstackingopportunities?• sediment,carbon,biodiversity
Supplycost($)
DINloadreduction(tonnes)
QuantifyingpotentialsupplyofcreditsSpatialpredictionofDINlossesandgrossmarginsfromcane(&bananas)inTullycatchment
• simulate@250mx250mresolutionfromearlierNESPN-tradingproject• overlayDINlosspredictionsfromReefProjectPrioritiser tool
• predictspatially-specificcreditsupply(DINcredits@source),basedonforgonegrossmargin,then‘transport’downcatchmenttoReefLagoon
• estimatesupplycurveforcreditexpenditurevsDINreductioninreceivingwater
• basedonforgonegrossmargin• includetransactioncosts• include%non-participation
Farmers’compensationrequirements
Supplycost($)
DINloadreduction(tonnes)
WaterqualityimprovementsandlandmanagementinNidderdale UK
Importanceoflandmanagementactivities
HelptoImprovewaterquality
Inorganic Fertilizer Farmyard Manure
Grip Blocking
AppliestoInbyeGrass-land
Applies to
Moor-land
Managementactivities
Inorganic fertiliser
Farmyardmanure
GripBlocking
Compensationpaymentsandagreementlength
Agreementlength
Compensationpayment
Choicecard#1
ProgramX
ProgramY
ProgramZ
Choicecard#1
üProgramX
ProgramY
ProgramZ
Choicecard#2
ProgramX
ProgramY
ProgramZ
£25peracre
£2peracre
£15peracreAllow25%ofgripstobeblocked
Choicecard#2
ü
ProgramX
ProgramY
ProgramZ
£25peracre
£2peracre
£15peracreAllow25%ofgripstobeblocked
Fertiliserreduction(%)
Compensationrequired($)
0 25 50
Fertiliserreduction(%)
Compensationrequired($)
0 25 50
Farmersoverallaverage
Dairy
Beef
Compensationrequirements
• Choiceexperimentswithfarmers canbeusedtoestimate:• farmers’compensationrequirements for differentlevelsofchangetomanagementpracticesand differenttypesoflandusechange
• howconfiguration ofcreditpurchasing/monitoring/evaluationarrangementsaffectcompensationrequirements
• howcompensationrequirementsareinfluencedbycharacteristicsoffarmbusiness andsocio-demographicsoffarmers
Supplycost($)
DINloadreduction(tonnes)
Basedoncompensationrequirementsfromchoiceexperiments
For more information please contact:Jim Smart: j.smart @ griffith.edu.au
Thankyouforlistening
• Theoreticalbasisofwaterqualitytrading
– Tradingmustoccurwithinafixedregulatoryemissionscap(TMDL,Nonetworsening,Targets)
– Markettransactionreallocateemissionsunderthecapbytrading– Theexistenceofsignificantcostdifferentialsinpollutionabatementcosts
betweenemittersfacilitatestrading– Tradingallowsmeetingofcomplianceconditionsatlowestcost– Diffusepollutioncanbeaddressedthroughpracticeandlandusechange
andtradingallowsthegenerationofanincomestreamtosupportsuchactivities
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
– Otherkeychallengesidentified– InsufficientGovernmentresourcestoimplementtradingframework
– Lackofclearwaterqualitystandardsforsomepollutants– Liabilityconcerns– Legalchallengestotrading– Administrativeburdens– Ratios– CapAllocation
» Rewardingpoorhistoricalperformance» Virginiabestmanagementpracticequalification
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
• 3CaseStudies(example)»MinnesotaSugarBeetCooperative
• 1demandsource– wwtp tomeetnewnodischargelegislation
• Phosphorousallocationbeingtraded• Offsetproviders– cooperative- farmersmeetingBMP• Tradingratio2.6:1• 600nonpointtraders• Thirdpartyauditors• TrustfundestablishedtoimplementBMP
»Others- LakeTaupo – GreaterMiamiWaterQualityTradingProgram
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
• TheKeyQuestionsraisedbytheLiterature» Arethekeydriversinplace(nitrogenandsediment)
• Pollutioncaporallowanceacrossallsources• Legislation– enforcement• Sufficientdemandandsupply• Clearlydefinedunitoftransaction• Sufficientcostdifferential• Marketdesignandtype• Economicfeasibilityandefficiency
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
• Sediment(InitialAnalysis)» Limitedpointsources» Limitedlegislativeresponsibilities» Significantprivateandgovernmentinvestment» Suitablevoluntarymarketorsolesourceoffset» Testinglevelsofdemand» Testinglevelofsupply
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
• Nitrogen(InitialAnalysis)» Numberofregulatedpointsources» Emerginglegislativeresponsibilities» Significantprivateandgovernmentinvestment» Emergingmarketstructures» Potentiallysuitableforsmartmarketdesign» Testinglevelsofdemand(scenarios)
• Current• Nonetworsening• 80%reduction
» Testinglevelofsupply• Compensationrequirementsperunitofcreditgeneration
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
Discussion&updatemeetingwithDEHPOfficeofGBR:16th November2017
1. Shortdescriptionofproject2. Presentationofworksofar
a) Reviewofhowoffsets,funds&creditsoperateb) Findingsfromliteraturereviewc) Demanddriversd) Supplymodellinge) Choiceexperimentsf) Sediments
3. Generaldiscussion
– TypesofTradingSchemes
MarketStructure Advantages Disadvantages
Exchanges Lowtransactioncost Requiresuniformityincommoditytobetraded
Bilateral negotiations Provideslatitudeforbuyerwhencommoditiesarenotuniform
Hightransactioncosts
Clearinghouses Reducedtransactioncosts,can enablegreatermonitoringbygovernmentagencies
Addedresponsibilityforthirdpartyrunning theclearinghouse
Solesourceoffsets Suitableincaseswherenoformalmarketsexist,loweroversightcoststhaninmoreformalmarkets
Hightransactioncosts
Voluntarymarkets Provide fundingforoffsetprojects,allowsearlyadopterstoreducefootprintandbuildpublicconfidenceforfuturemorecomplexmarkets
Allowsfreeriding,unlikely toachieveenvironmentalgoalsontheirown
Smartmarkets Lowtransactioncosts,canoptimise allocationofpollutionrightsgivencomplexvariationintransfercoefficients
Needameanstoinduceallsourcestoparticipate
LiteratureReviewofNationalandInternationalWaterQualityTradingSchemes
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$$$$$$$
dDINcredits
aDINcredits
xDINcredits
yDINcredits
zDINcredits
$
$$$
$$
$$$
Offersforcreditsupply
Maximisegainsfromtradesubjecttocatchmentloadcap&bidoffermatch
Bidsforcreditpurchase
$$$
$$$$
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Credittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$$$
xDINcredits
yDINcredits
zDINcredits
$$$
$$$$
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$$$
xDINcredits
yDINcredits
zDINcredits
Bidsforcreditpurchase
$$$
$$$$
PracticeCinitialalloc.
PracticeCinitialalloc.
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$$$
dDINcredits
aDINcredits
xDINcredits
yDINcredits
zDINcredits
$
$$$
$$
$$$
Offersforcreditsupply
Bidsforcreditpurchase
$$$
$$$$
CtoB
coastalwetland
CtoB
wetland
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$$$
dDINcredits
aDINcredits
xDINcredits
yDINcredits
zDINcredits
$
$$$
$$
$$$
Offersforcreditsupply
Maximisegainsfromtradesubjecttocatchmentloadcap&bidoffermatch
Bidsforcreditpurchase
$$$
$$$$
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$
$$$$
$$$$$
dDINcredits
aDINcredits
xDINcredits
yDINcredits
zDINcredits $$
$$$
Offersforcreditsupply
Maximisegainsfromtradesubjecttocatchmentloadcap
Bidsforcreditpurchase
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$
$$$$
$$$$$
dDINcredits
aDINcredits
<xDINcredits
<yDINcredits
$$
$$$
Offersforcreditsupply
Maximisegainsfromtradesubjecttocatchmentloadcap
Bidsforcreditpurchase
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$
$$$$
$$$$$
dDINcredits
aDINcredits
<xDINcredits
<yDINcredits
$$
$$$
Offersforcreditsupply
Maximisegainsfromtradesubjecttocatchmentloadcap
Bidsforcreditpurchase
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$
$$$$
$$$$$$$$$
dDINcredits
aDINcredits
<xDINcredits
<yDINcredits
$$
$$$
Offersforcreditsupply
Maximisegainsfromtradesubjecttocatchmentloadcap
Bidsforcreditpurchase
CreditMarket
STP Farm1
Farm2
NGO
IPA
Demandforcredits Supplyofcredits
catchmentloadcap
Smartmarketcredittrading
Aquaculture
UrbanDev
intensify
expansionortermsofEA
$$
$$$$$$$$$
dDINcredits
aDINcredits
xDINcredits
yDINcredits
zDINcredits
$
$$$
$$
$$$
Offersforcreditsupply
Maximisegainsfromtradesubjecttocatchmentloadcap&bidoffermatch
Bidsforcreditpurchase
$$$
$$$$
Quantifyingpotentialdemandforcredits
• GISmappingofexistingpointsourcesandtheirlicenceconditions• Predictionsfornewdevelopments:residential/industrialexpansion,farming/aquacultureexpansion– phonediscussionswithcouncilplanningdepartments
Pointsources– fromDEHPEnvironmentalAuthoritiesregister
http://environment.ehp.qld.gov.au/env-authorities/
Pointsourcesexpansion– fromStatePlanningPolicy
http://www.dilgp.qld.gov.au/planning/state-planning-instruments/state-planning-policy.html
Pointsourcesexpansion– fromStatePlanningPolicy
http://www.dilgp.qld.gov.au/planning/state-planning-instruments/state-planning-policy.html
Pointsourcesexpansion– informationfrom…
http://www.advancecairns.com/files/media/original/027/675/a3f/advc12654-tnqrep-64ppa4e.pdf
Pointsources– fromWetlandInfo
https://wetlandinfo.ehp.qld.gov.au/wetlands/assessment/monitoring/point-source-release/sewage-treatment-facilities/
Pointsources– fromWetlandInfo
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