Bay of Plenty Regional Council has not ruled out nitrogen trading as a way of reducing nitrogen discharge in Lake Rotorua.
An independent board, headed by programme director Te Taru White, was set up earlier this year to reduce nitrogen discharge into the lake.
The Lake Rotorua Incentives Scheme has been tasked with achieving a permanent 100 tonne reduction by December 2022.
The scheme, which has a budget of $40 million, allows property owners who reduce their nitrogen levels below the requirements to sell the deficit nitrogen to the regional council.
Rotorua Catchment manager Helen Creagh said the council would not sell the nitrogen it bought, but rules around property owners trading nitrogen had not been established.