Good Practice: Spain’s Climate Projects
Ministry of Agriculture, Food and Environment of Spain launched the Carbon Fund for a Sustainable Economy (FES-CO2) as a tool to boost the implementation of domestic greenhouse gas (GHG) emissions reduction projects and achieve a low carbon economy. Climate Projects supports Spanish companies, public administration, or individuals by funding national projects that reduce GHG emissions within non-ETS sectors (agriculture, waste, buildings, transport and fluorinated gases). FES-CO2 buys the verified emissions reductions achieved by the project for the first four years of the project’s operation. The emission reductions have to be measurable and verifiable in a manner that allows them to be reflected in the national GHG inventory.