BUSINESS WIRE
Kennett Township received the stormwater permit on August 14 as part of its municipal stormwater compliance strategy, reducing compliance costs four-fold under the Revolving Water Fund finance model
Conservation Innovation Fund and Pennsylvania's Kennett Township Achieve Ground-Breaking Stormwater Permit
Madelyn Ransom
press@conservationinnovationfund.org
Conservation Innovation Fund, a conservation and sustainability impact finance fund, and Pennsylvania’s Kennett Township announced today the Township achieved a National Pollutant Discharge Elimination System (NPDES) Municipal Separate Storm Sewer System (MS4) permit. The NPDES MS4 permit was issued on August 14 and is the result of a successful four-year partnership between Conservation Innovation Fund and Kennett Township to develop a municipal stormwater compliance strategy, in collaboration with the global infrastructure consulting firm AECOM, Hicks Brothers IV, Longwood Gardens and Mowery Environmental.
Under the NPDES MS4 permit, the Revolving Water Fund (RWF) finance model will facilitate the investment of private capital into nature-based solutions on privately owned land to meet Kennett Township’s compliance standards under the Clean Water Act and Pennsylvania Clean Streams Law. The RWF finance model, developed by Conservation Innovation Fund, increases the pool of capital and number of conservation projects that support watershed health by working with the local agriculture sector to implement practices that generate pollutant reductions, such as reductions in nitrogen runoff. The pollutant reductions are quantified and packaged into transferable environmental impact units so public and private enterprises may use the units to achieve compliance-driven and voluntary sustainability targets, subject to approval.
“The RWF finance model demonstrates how cost-effective agricultural practices can provide alternative income streams to farms and reduce compliance costs for municipalities,” said Callan Walsh Dever, Managing Director of Conservation Innovation Fund. “For Kennett Township, the RWF finance model introduces a four-fold reduction in compliance costs.”
The RWF finance model creates opportunities for communities across the Mid-Atlantic to work with local farms to improve waterways. Partnership efforts with other municipalities are underway and Conservation Innovation Fund plans to expand the model to other states.
“Kennett Township appreciates the role of its partners, including Conservation Innovation Fund, in helping to meet municipal stormwater requirements,” said Ted Otteni, Kennett Township Director of Public Works. “Communities across Pennsylvania should consider the benefits of implementing agricultural practices for permit compliance.”
About Conservation Innovation Fund
Conservation Innovation Fund creates water, carbon, and biodiversity assets that align public and corporate sustainability agendas with regenerative agriculture producers and practices. With the support of public and philanthropic grant makers and mission-oriented investors, Conservation Innovation Fund has created a blended capital pool to expand market-based solutions to address pressing conservation challenges.
About the Revolving Water Fund Finance Model
The Revolving Water Fund (RWF) finance model is a ground-breaking conservation finance model, developed by Conservation Innovation Fund in close partnership with non-profit partners, including The Nature Conservancy, Stroud Water Research Center and the University of Delaware Water Resource Center, with capital support from Agua Fund, Dunn Family Charitable Foundation, i2 Capital, Longwood Foundation, USDA’s Conservation Innovation Grants Program, William Penn Foundation and the Anita Antenucci Charitable Fund. The RWF finance model facilitates the investment of private capital into watershed-scale conservation efforts. The RWF finance model correlates agricultural conservation practices with regulatory compliance, water company cost savings and other private and public objectives to capture the economic benefits of conservation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240827797086/en/
Conservation Innovation Fund, a conservation and sustainability impact finance fund, and Pennsylvania’s Kennett Township announced today the Township achieved a NPDES MS4 permit.