Palo Alto, Calif., May 29, 2019 (GLOBE NEWSWIRE) --
The Electric Power Research Institute (EPRI) and First Climate announced today an agreement that will move credits from EPRI’s Ohio River Basin Water Quality Trading Project to international credit trading markets. This is a unique collaborative between a water quality project and an environmental asset credit broker to provide access to some of the world’s largest environmental credit buyers.
The Ohio River Basin Water Quality Trading Project is a market-based approach to improve local and regional water quality through a first-of-its-kind credit trading program that reduces nutrient (nitrogen and phosphorus) run-off through agricultural conservation practices. Its innovations earned it the United States Water Prize in 2015.
Working with farmers, the water quality credits help to protect watersheds that support agriculture operations by providing a science-based option for those seeking to mitigate supply chain impacts and meet personal and corporate environmental footprint goals.
Indiana, Ohio, Kentucky, the U.S. Department of Agriculture, and the U.S. Environmental Protection Agency (U.S. EPA) are among the supporters of the project, which issues credits that are rigorous, transparent, and traceable.
“To date, the project has generated 100,000 verified water quality credits from agricultural conservation practices on farms in the Ohio River basin,” said Jessica Fox, EPRI senior technical executive, and leader of the water quality trading project. “However, getting those credits onto trading markets has been difficult. First Climate will open doors to bring these credits to a global market.”
The project’s credits are individually registered and tracked on a credit registry hosted by IHS Markit.
First Climate supports individuals and corporations in meeting sustainability and environmental objectives and offers expertise in voluntary and compliance carbon markets, international water conservation programs, and corporate sustainability reporting.
“As more companies seek a broader set of tools to meet sustainability goals, offering water quality and greenhouse gas credits from one portfolio will meet this growing demand,” said Jacob Bourgeois, First Climate Senior Consultant.
Water quality credits are now available from First Climate to meet personal and corporate sustainability goals at https://www.firstclimate.com/en/water-quality-credits/#make-a-purchase. EPRI will present more information about its engagement with First Climate during a webcast on Friday, June 14, 2019, from 2:00 PM - 3:00 PM Eastern.
In February, U.S. EPA affirmed its support and encouragement for using water quality trading to improve water and reduce excessive nutrient loading. Details are, included in this Water Quality Trading Policy Memorandum.
EPRI has conducted research on environmental markets for more than a decade and initiated the Ohio River Basin Water Quality Trading Project in 2009 to test the viability of market-based approaches for achieving water quality goals through nutrient reduction.
This effort, the world’s largest water quality trading project, is a model for how government, power companies, farmers, and environmental organizations can work together to protect water and ecosystems. More information about the Ohio River Basin Water Quality Trading Project is available at www.wqt.epri.com.
The Electric Power Research Institute, Inc. (EPRI, www.epri.com) conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public. An independent, nonprofit organization, EPRI brings together its scientists and engineers as well as experts from academia and industry to help address challenges in electricity, including reliability, efficiency, affordability, health, safety and the environment. EPRI members represent 90% of the electricity generated and delivered in the United States with international participation extending to 40 countries. EPRI’s principal offices and laboratories are located in Palo Alto, Calif.; Charlotte, N.C.; Knoxville, Tenn.; Dallas, Texas; Lenox, Mass.; and Washington, D.C.
About First Climate
Founded in 1999, First Climate has been a pioneer in environmental asset management as well as voluntary & compliance carbon trading and consulting for the carbon emissions markets in cooperation with globally recognized standards and reporting protocols such as the CDM, Gold Standard, VCS and CDP. First Climate has continuously broadened its portfolio of products and services to its global customer base, and offers comprehensive solutions in the fields of renewable energy, water stewardship, sustainable investments and climate change mitigation supporting private companies, public institutions and international organizations to achieve their sustainability and environmental objectives. With headquarters in Frankfurt, Germany and Zurich, Switzerland, First Climate manages a global team with a presence in the United States, Canada, Mexico, the United Kingdom and India.
Electric Power Research Institute
Electric Power Research Institute