The Confederation of Forestalists of the Basque Country drives the creation of a voluntary carbon market in the Basque Country in 2024. In this market, Basque companies will be able to buy carbon from trees to small forest guards to reduce their carbon footprint, the UPV has reported.

The project is also sponsored by the technology company Elkarmedia and the PEFC certification system, the Polytechnic University of Valencia, the University of Zaragoza, the University of Girona and the University of the Basque Country.

Immaculate Astorkiza, professor and researcher of the project of the School of Economics and Business of the UPV/EHU, has pointed out that the objective of the project is “to increase the carbon absorption capacity of Basque forests”. It also highlights that the Total Certified Area of the CAPV is 107,477 hectares, of which 49.1% corresponds to small and medium-sized private forest rangers.

“It is to be hoped that this initiative will encourage new forest owners to develop Sustainable Management Technical Plans, and that through this certification (sine qua non) they can participate in the voluntary market,” Astorkiza stressed.

Benefits of the project

Stakeholders supporting the initiative have listed the benefits of market promotion: “On the one hand, it generates additional revenues for forest owners and promotes the continuity of sustainable management, while forest carbon management generates new local jobs in rural areas. On the other hand, it improves the Corporate Social Responsibility (CSR) of the participating companies, increases their prestige and improves the brand image in the Basque Country and in other autonomous communities”.