Four Councils in Norfolk have formed a partnership to address the Nutrient Neutrality restrictions on housebuilding

South Norfolk, Broadland, Breckland and North Norfolk have established a new Joint venture company called, Norfolk Environmental Credits (NEC). The company will provide a trading platform for nutrient offsetting and other environmental credits, including Biodiversity Net Gain (BNG).

Nutrient Neutrality has had an impact on many parts of the country.  One of the most significantly affected areas is Norfolk where multiple Districts have been unable to grant planning permission for new homes for the last 18 months leading to a backlog.  Concerns about the quality of our water and environment are rightly rising up the agenda and need to be addressed.

This is not the first environmental trading platform to be established but it is the first time that so many Councils have formed a trading company of this nature.

Norfolk Environmental Credits is designed to secure largescale nutrient mitigation from projects such as changes in use of agricultural land, septic tank conversion and water infrastructure enhancements. These credits are then parcelled up by the company and sold to developers to offset the equivalent amount of nutrients arising from their new development.

The company’s business plan sets out the allocation policy for distributing credits across the four districts. It also sets out the initial credit price for nutrient neutrality which is currently the lowest price in the country and the money invested by the Councils in the land will be repaid by the sale of these credits to developers.

Norfolk Environmental Credits has launched its new website allowing housing developers to calculate their additional nutrient load and register an interest in purchasing credits as they become available. The website also provides a mechanism for landowners and interested parties to come forward with potential nutrient mitigation solutions that the joint venture may wish to invest in.