A Portuguese government agency, Adene, has launched an online portal for the country’s forthcoming domestic voluntary carbon market (VCM). The platform enables project developers to submit proposals aimed at reducing or removing carbon dioxide emissions.
Flamingos wading in the serene waters of Ria Formosa Natural Park, Portugal. AI generated picture.
Since its launch, 21 project ideas have already been submitted in the form of expressions of interest. Developers have until the end of December to submit their plans, after which a technical committee will review and prioritise them. Adene has indicated that most proposals so far focus on afforestation projects.
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This new portal is part of a broader initiative to establish a functioning carbon market in Portugal. Earlier this month, the government tasked Adene with overseeing the VCM’s operations. The platform is also open to other market participants, such as verifiers and carbon credit buyers, who want to actively engage in developing this new market.
In addition to the portal, Adene has issued a tender for companies to create a registration platform for the market. The registry will use open-source software developed by the World Bank’s Climate Warehouse programme, a global initiative supporting countries with analytical and technical work. Interested companies have until 13 November to submit proposals for this project.
This marks an important step for Portugal as it advances efforts to meet environmental goals by encouraging local projects that focus on emission reductions and carbon removals.
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