WASHINGTON — EPA Administrator Gina McCarthy will hold a press conference on Dec. 16 with USDA Secretary Tom Vilsack, Commonwealth of Virginia Governor Terry McAuliffe, Mike Boots of the White House Council on Environmental Quality, a private investor and farmer from Appomattox, Virginia, to recognize an innovative, market-based nutrient trading program, according to a press release.

The trading program, embraced by Virginia, encourages economic investments and reduces phosphorus pollution to water to help meet water quality goals for the Chesapeake Bay, stated the release.

The release reported that by offsetting increases in phosphorus loads, nutrient trading provides important economic incentives for farmers including new income, cost savings and employment opportunities, as well as environmental benefits like carbon capture and storage, air quality improvements and enhanced wildlife habitat.

Both EPA and USDA have supported the concept of market-based approaches for improving water quality, and EPA is developing additional resources for states across the country to follow similar programs, noted the release.

Read the entire release here.