Issue - meetings

To consider a report of the Leader of the Council, Climate, Performance and Safeguarding.  

That the methodology for setting the price for Poole Harbour nitrogen permanent credits (as set out in appendix 1) be agreed and allow for a discretionary adjustment of up to 10% to be applied, with authority delegated to the Executive Director of Place to respond appropriately to market conditions.

Reason for the decision

The selling of nutrient credits to developers was essential because it provided a mechanism for development to proceed legally, ensuring that nutrient impacts were mitigated. It also ensured legal defensibility, financial sustainability, a credible and trusted credit market, and strong governance through transparent, accountable pricing.

The Leader of the Council presented a report on the Dorset Local Nutrient Mitigation Fund aimed to deliver nitrogen mitigation projects across Poole Harbour catchment. Cabinet considered the information and recommendations set out in the report and it was proposed by Cllr N Ireland and seconded by Cllr S Bartlett

Decision

That the methodology for setting the price for Poole Harbour nitrogen permanent credits (as set out in appendix 1) be agreed and allow for a discretionary adjustment of up to 10% to be applied, with authority delegated to the Executive Director of Place to respond appropriately to market conditions.

Reason for the decision

The selling of nutrient credits to developers was essential because it provided a mechanism for development to proceed legally, ensuring that nutrient impacts were mitigated. It also ensured legal defensibility, financial sustainability, a credible and trusted credit market, and strong governance through transparent, accountable pricing.