Sales of clean air occupy a rapidly evolving sector, as companies seek to offset polluting gas emissions and present their sustainability efforts to shareholders and society. With growing interest in this market and the potential offered by Galicia’s mountainous terrain, the Xunta has decided to take formal steps to regulate the sector within the community. A legally established carbon exchange will connect buyers and sellers of this intangible asset, creating a Galicia-specific system that operates independently from the national registry.
The Draft Law for the Promotion of the social and economic benefits of projects using natural resources in Galicia, backed by the Xunta, explicitly aims to foster the development of projects and activities that promote self-sufficiency—leading to increased carbon sequestration and reductions in greenhouse gas emissions to help reach carbon neutrality.
The document, for the first time, outlines the creation of a system wherein the Xunta will operate a voluntary carbon credit framework. This framework will act as a bridge between operators or groups of operators who voluntarily sell carbon credits generated by their projects and activities, and compensators who voluntarily seek to obtain or use these credits; acting as intermediaries or final intermediaries to offset emissions from other actions.
Data from the Ministry of Ecological Transition show that the market for clean-air credits is currently regulated at the national level but has expanded in Galicia over the past two years, doubling the number of forests connected to this system to 232. The ministry notes the balance between the tons of wood and the carbon those forests can absorb: the average pine forest sequesters 450 to 500 tons of CO2 annually. Companies aiming to lower their ecological footprint and bolster their corporate image can purchase the clean air produced by these mountains for up to 70 euros per ton. This framework mirrors the regime governing greenhouse gas‑emitting industries, which must adhere to production limits and pay penalties for overages. [Fuente: Ministerio de Transición Ecológica]
The government restricts entry to this voluntary market to a defined set of mountains. The Forest Societies Organization filed a complaint with the European Office on Climate Change, a matter promoted by the FARO group to advocate for well‑managed forests, alongside the Prensa Ibérica group at the start of the month. [Fuente: oficina europea de cambio climático]
In response, the Xunta is moving to establish its own system. “The law will provide Galicia with a regulatory framework designed to ensure that carbon loans are managed and granted effectively, supporting the production of such projects from the Xunta First Vice Presidency and the Ministry of Economy, Industry and Innovation.” [Fuente: Xunta]
The district administration has recently launched a market consultation to explore innovative approaches to offsetting carbon dioxide emissions, considering a potential business value of 150 million euros in the region. Now it advances a plan to create its own carbon market instrument.
The Galician system will accommodate both carbon absorption through forestry and the reduction of greenhouse gas emissions, including direct sequestration of CO2, according to the Xunta. “Today’s forecast envisions a Galician registry where, in the coming years, loans will be largely tied to the forestry sector,” officials note. [Fuente: Xunta]
While the clean-air instrument in Galicia will remain voluntary, its regulatory development will be guided by natural resources law and subsequent decrees. The legislative project states that the system will quantify carbon credits—the tonnes captured by each forest—based on methodologies approved under this framework. Galicia will define what constitutes one ton of absorbed CO2. Each carbon project will undergo an initial certification audit process conducted by an organization designated by the Xunta.
The Galician platform, designed to enable the trading of clean air, will detail each operator’s data to prevent double counting of emissions, according to the legal text. The plan also emphasizes support from the Xunta to promote such projects. “Carbon credits tied to projects and activities with additional environmental and social benefits will receive special treatment,” the document notes. [Fuente: Xunta]