The Somerset Catchment Market is an environmental services market that aims to accelerate the delivery of Nature-based Projects such as the creation of new woodlands and wetlands across South Somerset.
The Market has been developed by EnTrade in consultation with the former South Somerset District Council, Natural England and the Environment Agency. The Market is designed to provide a transparent, fair and efficient way to secure Nature-based Projects and trade the environmental services that they deliver, including nutrient reduction and biodiversity gain.
Market Announcements
The outcomes of each Market Round are available here:
Market Round 2 (November 2023)
Market Round 1
(August 2023)
Latest news
How does the market work?
The Market is not a reverse auction. Unlike a reverse auction in which there is only one buyer, the Market is two-sided, which means that multiple Buyers make bids for the environmental services they need, and Suppliers make offers to deliver Projects that generate these services.
The Market operates in Market Rounds. A Market Round is a fixed period in which Offers and Bids are made.
The Market is settled simultaneously, which means that successful Buyers and Suppliers are determined by matching supply and demand in the Market Round based on the Offers and Bids received.
Supply and demand are matched using an independent market settlement mechanism developed by the University of Exeter.
Buyers whose Bids are successful will be assigned rights to the Credits they need, from Projects delivered by Suppliers whose Offers were also successful in the Market Round.New paragraph
The market is overseen by an
Environmental Markets Board to ensure the delivery of genuine, lasting, and additional environmental improvements, which are robustly verified and transparently documented.