Awardee Name
ECOASSET MARKETS, INC
Grant Type
State
Project Title
DEVELOPMENT OF AN ECOSYSTEMS SERVICES EXCHANGE FOR THE CHIPUXET RIVER WATERSHED
Awardee State/Territory
Rhode Island
Involved States/territories
Rhode Island
Award Year
2009
Project Background
The purpose of this award is to pilot an innovative market-based approach to managing water withdrawals in the Chipuxet River watershed and to model the effect of the reduction in withdrawals on base flows and its impact on other ecosystem services. It will build upon previous water usage studies, incorporate current hydrologic models/ecosystem services assessments, and apply EcoAsset Markets’ experience with community based environmental markets to prototype successful water/ecosystem services management in the watershed.
The resulting ecosystem service economic model will provide landowners/producers a better basis for economic/environmental management of their land, provide communities with innovative methods to finance conservation and water-related environmental improvements, and provide a well-studied basis for the policy and regulatory changes necessary to improve environmental economies – a task that historically has been economically difficult.
The resulting ecosystem service economic model will provide landowners/producers a better basis for economic/environmental management of their land, provide communities with innovative methods to finance conservation and water-related environmental improvements, and provide a well-studied basis for the policy and regulatory changes necessary to improve environmental economies – a task that historically has been economically difficult.
Project targeted to Historically Underserved producers?
No