Iberdrola launches new carbon credit firm to reduce footprint

Iberdrola has launched Carbon2Nature (C2N), a new carbon credit company aimed at developing nature-based solutions projects that improve biodiversity and promote sustainability.

The Spanish energy giant has launched Carbon2Nature through its green start-up programme, PERSEO, a move that aligns with its commitment to a sustainable energy model in harmony with nature and people.

Carbon2Nature will promote emerging solutions, as well as drive the development of projects that improve biodiversity, and conserve and restore nature, projects that will generate high quality carbon credits.

The firm will make these credits available to its customers to support their path to net zero.

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The initiative aims to capture more than 61 million tonnes of CO2 to be stored in natural carbon sinks across more than 100,000 hectares of forests, coastal ecosystems (blue carbon), and agricultural lands.

Carbon2Nature's business plan focuses on regions where Iberdrola is currently operating and where these nature-based solutions will have the most potential.

Currently, Carbon2Nature is already working on the development of projects in Brazil, Mexico, Colombia, Chile and Spain.

Miguel Ángel García Tamargo, director of Carbon2Nature, commented in a statement: "...the firm was created with the ambition to make a long-term impact at an international level. In order to achieve this, it is committed to diversification in geographies and projects and promotes collaborative strategies for their development with local communities and other actors, guaranteeing the highest levels of quality.

"We come to this new market with humility and a desire to do things differently, bringing all of Iberdrola's experience in sustainability to the world of nature-based solutions and the generation of carbon credits".

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Voluntary carbon markets

With the increased pressure to decarbonise, businesses are looking to carbon markets to decrease their carbon footprint.

In many cases, these carbon markets present a solution, according to carboncredits.com, by turning CO2 emissions into a commodity by giving it a price.

Emissions can take the form of carbon credits or carbon offsets, both of which can be bought or sold.

Credits and offsets form two slightly different markets, although the basic unit traded is the same – the equivalent of one ton of carbon emissions, also known as CO2e.

To learn more about the intricacies of the voluntary carbon market, listen to the podcast below with Luke Leslie, CEO at carbon project financier Carbon Neutral Royalty.