With the announcement of the results of the second market round, the Somerset Catchment Market has now reached a significant milestone with over £1 million secured for new nature projects that will deliver Phosphorus Mitigation in the Tone and Parrett Catchment in Somerset.

The Somerset Catchment Market is supplying the nutrient mitigation developers need to deliver their projects. Through the most recent Market Round, the nutrient neutrality planning requirements for 122 new dwellings will be met. Through both market rounds, credits have been sold for multiple care home developments, paving the way for a total of over 130 new care home beds.

The Market Round 2 Settlement Report has been released today and provides a summary of the successful and unsuccessful offers and bids, and the cost of projects and credits.

A third market round will be held in February next year which aims to include both nutrient mitigation and Biodiversity Units to meet the new Biodiversity Net Gain requirements.

Organisations with a need for environmental credits, 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 This e-mail address is being protected from spambots. You need JavaScript enabled to view it