Abstract
ABSTRACTIncreased regulatory attention in controlling pollutants has encouraged the development of water quality trading programs over the past several decades. These trading programs could provide the mechanisms to cost‐effectively achieve water quality objectives. Encouragement of innovative methodologies for emission prevention and control, and the contributions from non‐regulated pollution sources, are also important factors in the development of successful water quality trading programs. The objectives of this paper are to: assess the advantages of a trading program to reach water quality goals while providing additional benefits to the whole watershed; describe the challenges confronted during the design to implementation phases; and outline the essential elements of a successful program. A meta‐analysis was also conducted using several water quality trading programs to assess main market‐based elements driving the success of trading programs between point and agricultural nonpoint sources. Uncertainty, policy drivers and social embeddedness––the degree to which stakeholders are integrated into program development––seem to be the most influential determinant of program success. Copyright © 2013 John Wiley & Sons, Ltd.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
