Nitrogen Trading in Lake Taupo: An Analysis and Evaluation of an Innovative Water Management Strategy
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This paper provides a concise introduction to and evaluation of the Lake Taupo nitrogen
cap and trade program established as part of Waikato Regional Council's recent Regional Plan
Variation Five. The policy establishes a catchment-wide cap on nitrogen losses by allocating
farmers individual nitrogen discharge allowances and allowing those farmers flexibility to trade
allowances amongst themselves and to sell allowances to a public fund while remaining within
the overall catchment cap. This paper seeks to explain the structure and evolution of the
nitrogen trading market and to analyse its impact thus far by drawing on a wide variety of
relevant perspectives. Research drawn from written material and basic quantitative data provide
the basis for analysing the policy, while interviews with relevant stakeholders provide insight into
the successful, surprising and contentious issues which arose throughout its development and
implementation.