Understanding water quality trading: the basics.

The United States has entered a new era in water quality protection: the era of market-based incentives. In January 2003, the United States Environmental Protection Agency (EPA) issued its National Water Quality Trading Policy (Trading Policy) (USEPA, 2003). This action has generated greater interest in water quality trading and has prompted EPA to develop tools and training to assist interested parties in understanding what water quality trading is and what constitutes a successful trading program.