NEFCO has published a pre-feasibility study on a future nutrient trading system aimed at reducing releases of phosphorus and nitrogen into the Baltic Sea. The study “Framework for a Nutrient Quota and Credits’ Trading System” has been funded by the Finnish ministry of environment and written by the consulting agency Green Stream Network. The report was published in connection to the Helsinki Commission’s (HELCOM) annual meeting, which took place on Wednesday in Finland.
“If the releases of nutrients into the Baltic Sea continue to increase despite current measures, it will lead to a situation where already agreed national release targets are exceeded. In such a situation we need to explore innovative ways to reduce releases of phosphorus and nitrogen”, said Senior Manager Karl-Johan Lehtinen at NEFCO.
Phosphorus and nitrogen credits could be sold and purchased by private companies, foundations, funds and international finance institutions. The study outlines a model where the trade system could be established and implemented in four different stages.