Fisheries Compensation Program

With a growing investment in renewable energy and the development of offshore wind energy systems, there is a recognizable need to offset potential losses and/or costs incurred by the surrounding fishing industries with mitigation measures, including financial compensation. The eleven states along the Northeastern and Mid-Atlantic Seaboard (Maine, New Hampshire, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Delaware, Maryland, Virginia, and North Carolina) began an initiative to create a compensatory fund for financial loss incurred because of the development of offshore wind.

Through a competitively bid RFP process, BrownGreer in partnership with the Carbon Trust were selected to be the Regional Fund Administrator (RFA), the third-party independent entity to design and develop this regional fund.

A Design Oversight Committee (DOC) and For-Hire Committee (FHC) have been established to provide advice and guidance from the states, fishing industry, and offshore wind developers as the RFA develops the processes, policies, and procedures.

We have also established a plan for robust and meaningful engagement opportunities to solicit input from broader commercial and recreational for-hire fishing industry.