Farmers and developers in Wells and the surrounding areas are being invited to take part in the latest round of the Somerset Catchment Market, a pioneering initiative by EnTrade designed to support nature recovery and housing development.

The market focuses on the Brue catchment, which includes Wells, and enables developers to purchase phosphorus credits to meet strict nutrient neutrality planning requirements. These credits fund nature-based projects, such as the creation of wetlands, woodlands, and grasslands, which not only benefit the environment but also unlock planning permissions for new housing developments.

Over the past year, the Somerset Catchment Market has provided more than £1 million in funding for new environmental projects. These initiatives have had significant benefits, from reducing flood risks to creating wildlife-rich landscapes and providing financial security for local farmers through long-term revenue streams.

Amy Coulthard, Market Development Director at EnTrade, explained:

"We have a strong pipeline of projects lined up, and we're encouraging developers with a requirement for nutrient credits or biodiversity units to visit our website and find out how EnTrade's markets can help them meet their environmental obligations. This is an exciting opportunity to support nature recovery while enabling much-needed housing developments."

The market has already facilitated small- to medium-sized housing developments and multiple care home projects in Somerset. Developers like Abbey Manor Group have praised the platform for its simplicity and efficiency.

"The process of registering and bidding on the EnTrade platform was very simple. It enabled us to achieve planning permission and start construction on one site as well as assisting to unlock a larger 100-dwelling scheme," said Austin Squibbs, Director of Abbey Manor Group Ltd.

Developers and farmers interested in participating can register now, with the deadline for applications set for 16 December. Bidding for phosphorus credits will open in the new year. For more information, visit somersetcatchmentmarket.uk.