Portugal expands carbon market with two new forest-based methodologies

Portugal's Ministry of Environment and Energy has officially endorsed two new carbon-offset methodologies—one for reforestation and another for improved forest management—adding to the pre-existing new afforestation scheme. This expansion brings the country's voluntary carbon market to three distinct methods, designed to encourage private capital into forest-based CO2 sequestration projects. Under the framework, a carbon credit is issued for every tonne of CO2 emissions avoided, which can later be sold to firms seeking to neutralise their carbon footprints.

Minister Maria da Graça Carvalho said the initiative creates conditions for more landowners, organisations and businesses to invest in forests and climate mitigation. The market presently hosts two registered projects under the afforestation method, a third pending initial validation, and 977 credits are on offer. The portal supporting the market lists 29 registered users and ten qualified verifiers to ensure project validation and ongoing monitoring.