${site.data.firmName}${SEMFirmNameAlt}
Phone:248-468-4536
Toll Free:888-674-1189 EmailMap
Practice Areas Menu

Lake Erie Water Quality Market

Paul Bohn, Esq.
Back in July 2015, I wrote a blog discussing a joint effort between Great Lakes states and Canadian provinces to address the dangerous levels phosphorous and nitrogen runoff that are causing massive algae blooms in Lake Erie. While the Great Lakes Commission (GLC) pledged a 40% reduction of algae blooms in Lake Erie by 2025, they did not discuss how they would achieve this.
Well, good news. The GLC has developed a plan to achieve their algae bloom reduction goal. The initiative will provide what's called a water quality trading system. It is a market-based approach to pollution reduction, in which the government sets an overall water pollution reduction requirement and then provides water quality credits that can be earned by entities for reducing pollution.
If properly implemented, a supply and demand for these credits will be created. Industries that are engaging in pollution reduction will stock-pile the credits, and then sell them to those who have high pollution reduction costs.
The proposed trading system will include most pollution sources contributing to runoff into Lake Erie. This includes farmers, sewage treatment plants, power plants, and factories. It is a great alternative to traditional pollution reduction methods that force each pollution source to install expensive new technology to reduce their own emissions.
Now, pollution sources will be able to determine if they are best served by becoming a buyer or seller of credits, based on their ability to adhere to the new regulatory requirements. The GLC believes this innovative approach will significantly reduce pollution runoff and thereby improve water quality in Lake Erie, what do you think?

No Comments

Leave a comment
Comment Information

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Firm Location

map

Fausone Bohn, LLP
41700 West Six Mile Road, Suite 101
Northville, MI 48168

Toll Free: 888-674-1189
Toll Free: 888-693-4800
Phone: 248-468-4536
Fax: 248-380-3434
Map & Directions

Follow us on