For credit buyers
The Somerset Catchment Market makes it easier for organisations to meet their environmental obligations and commitments.
What types of credits will be available?
To begin with, the market will focus on nutrient mitigation and potentially biodiversity net gain. In future rounds, the market may be extended to include credits for other environmental services such as carbon sequestration and natural flood management.
Confirming your credit requirements
A phosphate budget calculator has been developed that can be applied to proposed developments across Somerset.
The calculator is available
here along with further background, and information about how to use the calculator.
The following diagram shows how the outputs from the calculator are used to calculate the Credit Requirements in the market (Additional fixed-term to 2025, Additional fixed-term from 2025 to 2030, and Ongoing).
Agents of Credit Buyers
A person may register to participate in the Market as an Agent of a Credit Buyer.
The Agent must demonstrate to the Market Operator that they have the legal authority to act for a Credit Buyer. This will take the form of a signed letter from the Credit Buyer clearly outlining what the Agent has authority to do in the Market (eg register the Credit Buyer as a Market Participant, submit a Bid on the Buyer's behalf, sign the Environmental Credit Supply Agreement on behalf of the Credit Buyer).
Evidence must be provided that the Credit Buyer meets the relevant Registration Requirements.
The Environmental Credit Supply Agreement will be between EnTrade and the Credit Buyer.
If a Credit Buyer has authorised it, an Agent can sign the agreement on a Credit Buyer's behalf. Otherwise, an Agent must be able to commit that the Credit Buyer will sign the Environmental Credit Supply Agreement.
Further information
More information about the process for organisations to participate in the market is available here.
If you have any questions then please check out our Frequently Asked Questions.