We are putting together a phosphate offset scheme in the River Tone Catchment to enable the development of a site in Taunton. The developer is looking to fund an afforestation scheme on land nearby to create a nutrient bank - delivering the offset they need, as well as creating a surplus which can be sold on to other developers.
This arrangement is intended to provide the landowner with a fully funded and commercially viable woodland (with potential for additional offsets such as carbon sequestration) as well as a lump sum for the nutrient offset that’s well in excess of agricultural value. Equally it gives the developer a relatively straightforward and cost-effective way to meet the neutrality requirements with the potential to recover costs through the sale of surplus credits.