Portugal launches a Voluntary Carbon Market
- Valerie Charoux
- Oct 9, 2024
- 1 min read
Portugal news - Portugal launches a Voluntary Carbon Market and both organizations and companies can now submit project proposals.
Portugal’s Voluntary Carbon Market, that was enacted by Decree-Law on January 5, 2024, is now operational following the Government’s approval of specific regulations for the operation of the carbon market.
The launch of Portugal’s Voluntary Carbon Market is "a fundamental milestone in the climate action strategy", according to Portugal’s Minister for Environment and Energy, Maria da Graça Carvalho.
Portugal’s Voluntary Carbon Market will encourage the implementation of projects to reduce greenhouse gas (GHG) emissions or sequester carbon, and companies that wish to offset GHG emissions can now invest in mitigation projects to contribute to the country achieving climate neutrality.
By enabling companies and other entities to invest in carbon sequestration and emissions reduction projects, Portugal is not only fostering environmental recovery and resilience, but also the promotion of new technologies and the creation of green jobs.
