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The Environmental Defense Fund (“EDF”) and Rosedale-Rio Bravo Water Storage District in an August 8th news release announced a joint pilot project which they described as the construction of the:
. . . first online, open-source groundwater trading platform. . .
The trading platform will be located in the Central Valley in California.
The trading platform is stated to be a response to the California Sustainable Groundwater Management Act. The statute requires over-drafted groundwater basins to develop sustainability plans by January 2020 to “balance groundwater supply and demand within 20 years.”
The EDF and Rosedale-Rio Bravo Water Storage District state that the platform will be tested and refined in the fall of 2019 through a series of workshops and mock trading sessions. A preliminary schedule calls for a beta version of the platform to go live in early 2020 and be accompanied by real trades. A final version is scheduled for 2021.
A copy of the news release can be downloaded here.
