Ecosystem Markets

Our attorneys have been involved in Virginia’s nutrient trading program since its inception, helping develop the original enabling legislation, wasteload allocations, and watershed general permitting framework. We were instrumental in establishing a non-point source credit trading platform in the commonwealth and we continue to actively advise nutrient bankers in the establishment and sale of credits within this market. Most notably, we have worked on behalf of its clients to drive nutrient credit demand by securing the passage of creative legislation authorizing the use of non-point source nutrient credits for stormwater compliance. These changes have created a viable market opportunity for nutrient bankers in the state, while providing developers a compliance option that can be more cost effective and that does not consume the developers’ land area.

We have been at the forefront of the development of the largest interstate water quality trading program in the U.S. since its inception in 2009. We have provided advice and legal assistance on all phases of this innovative project, from program design to implementation.

We are a core partner in and serve on the review leadership team of the National Network for Water Quality Trading, which brings together leaders from all across the U.S. to improve the consistency, integrity and environmental performance of water quality trading through shared principles, core program elements, and best practices. Complementing the efforts of the NWQTA, the work product of the National Network is expected to be highly influential in helping new trading projects get off the ground, as well as helping existing projects innovate and adapt.

• Advised clients on mitigation options and represented purchasers of wetland and stream mitigation credits.
• Negotiated conservation easements and other agreements necessary to preserve mitigation credits.