Carbon credits news in Portugal

Portugal Lets Forest Owners Harvest and Still Earn Carbon Credits

Wood Central8 Oct

Carbon: Government approves two new methodologies to attract private investment in emission reduction

The Voluntary Carbon Market (VCM) in Portugal now includes three methodologies aimed at reducing atmospheric carbon emissions to generate carbon credits. The Ministry of Environment and Energy has approved two new methodologies focused on Reforestation and Improved Forest Management, joining the existing methodology for New Afforestation. This initiative aims to increase opportunities for carbon sequestration projects and attract private investment, with each credit representing one tonne of CO2 saved. Minister Maria da Graça Carvalho stated that these measures will encourage investment in forests and climate action, enhancing the credibility and growth of the VCM. Currently, the VCM has two registered projects and one pending validation, with 977 carbon credits available for sale.

Quality seal remains residual in carbon credits purchased in Portugal

Data from Allied Offsets shows a strong concentration in the energy sector. There is a preference for forestry projects, but still little demand for certified high-integrity credits.

Voluntary carbon market has already issued the first “future” credits

Portugal has issued its first 595 future carbon credits, before trees have absorbed carbon, linked to a forestry project in Sabugal. WWF and Zero view this anticipation with caution.