Galicia's New Carbon Market: Opportunities and Strategies for Industry Decarbonization
Galicia has established its own voluntary carbon market through the enactment of the Law 2/2024 and the subsequent approval of the Decreto 95/2025, marking a significant advancement in regional climate action.
This innovative system provides a robust, transparent, and verifiable framework that governs the generation, validation, and transaction of certified carbon credits, ensuring high environmental and social value.
The regulatory principles underpinning the system include voluntariness, transparency, permanence, and sustainability, complemented by a reliable registry and independent verification processes.
Projects eligible for participation encompass a wide array of activities such as forestation, sustainable forest management, renewable energy deployment, restoration of peatlands, and direct air capture, among others. This diverse portfolio reflects Galicia's commitment to a comprehensive approach to decarbonization utilizing its natural and economic resources.
Methodologies for project validation and certification must adhere to strict scientific and procedural standards, drawing from IPCC guidelines and national inventories, ensuring credible and accurate measurement of emission reductions.
Particularly innovative is the creation of Ecosoc credits, which recognize projects delivering ecosystem services alongside carbon sequestration, thereby promoting multifunctional benefits and sustainable development.
Operationally, industrial actors and project developers must submit applications for project registration, backed by validation certificates. The system's digital platform facilitates transparency through real-time tracking of project status, credits generated, transactions, and prices, enhancing traceability and trust.
Credits produced can be sold privately, with the system ensuring that reselling is restricted to maintain integrity and prevent market distortions. This setup offers companies a clear pathway to monetize sustainability efforts, incentivizing investments in low-carbon projects.
Galicia's pioneering initiative positions it as a leader in autonomous regional markets in Spain, opening new opportunities for companies, landowners, farmers, and local communities to participate in climate mitigation and adaptation.
In conclusion, the Galicia carbon market exemplifies a forward-looking strategy in industrial decarbonization, integrating regulatory clarity, technological validation, and market mechanisms to foster sustainable economic growth and environmental preservation.