EnTrade has announced its next market round to farmers and developers in its bid to harness private finance for nature recovery.

The Somerset catchment market has been developed by EnTrade to demonstrate how high integrity markets can accelerate private investment in nature-based solutions. This fourth market round focuses on the catchment draining into the Somerset Levels and Moors.

In Somerset, EnTrade is working with farmers and land managers to secure new wetland, woodland, and grassland projects to help remove phosphorus in the catchments of the rivers Brue, Tone, and Parrett. EnTrade also operates a market to deliver biodiversity improvements in the Bristol Avon catchment.

The Somerset catchment market makes it easy for developers to obtain the nutrient mitigation they need to secure planning permission and build housing. Developers pay for phosphorus credits from nature-based projects to meet their nutrient neutrality planning obligations, these payments fund the creation of wetlands, woodlands, and grasslands.

The Somerset catchment market has already supplied phosphorus credits to enable small to medium housing developments and multiple care home developments gain planning permission.

Austin Squibbs, Director, Abbey Manor Group Ltd said:

“The process of registering and bidding on the EnTrade platform was very simple. Abbey Manor Group were successful in both Market Round 1 and 2. This enabled us to achieve planning permission and start construction on one site as well as assisting to start to unlock a larger 100 dwelling scheme.”

By buying credits through the market, developers are supporting the delivery of nature recovery projects in Somerset. In 2023, the Somerset catchment market secured more than £1 million for new nature projects in the Parrett Catchment.

This additional investment not only secures projects for nature recovery, it also has financial benefits creating new jobs for local environmental charities and young people and ensuring long-term revenue streams for farmers. New homes can be built to meet local need, and communities benefit from slowing the flow of water in the landscape to reduce flood risk, creating wildlife- rich landscapes.

Amy Coulthard, Market Development Director, EnTrade said:

“We have a strong pipeline of projects lined up. We encourage developers that have a requirement for nutrient credits or biodiversity units to visit our website to find out more about how EnTrade’s markets can help them achieve their environmental obligations.”

Registration for the next round of the Somerset catchment market is now open. The closing date is Monday 16 December and bidding for phosphorus credits will open in the new year.

The average payments per credit in the previous market rounds were: £45,000 for credits to meet long term mitigation, and £10,000 per credit for mitigation until wastewater treatment works upgrades are in place. The results of previous EnTrade market rounds are published in Settlement Reports to provide a summary of the successful and unsuccessful offers and bids, and the cost of projects and credits.

The Market Round 2 Settlement Report is available here: https://somersetcatchmentmarket.uk/market-announcements

Organisations with a need for environmental credits[1] and landholders interested in being paid to deliver nature-based projects on their land are invited to:

• visit the Somerset Catchment Market website https://somersetcatchmentmarket.uk
• contact the Somerset Catchment team directly cmo@entrade.co.uk

EnTrade’s aim is to to reverse the decline in nature by driving private investment into nature recovery.

To find out more about EnTrade’s other markets visit the EnTrade website: https://www.entrade.co.uk/

[1] Phosphorus credits and Biodiversity Units needed to secure a new mandatory requirement for developers to deliver “Biodiversity Net Gain” for developments impacting on wildlife sites.