Portugal's Voluntary Carbon Market expands to include reforestation

Portugal's Voluntary Carbon Market (MVC) has expanded its scope by introducing two new methodologies focused on reforestation and improved forest management. These additions complement the existing methodology for new afforestation.

According to the Ministry of Environment and Energy, the expansion aims to increase opportunities for carbon sequestration projects within the country and attract private investment for nature-based solutions. Minister Maria da Graça Carvalho stated that the move creates conditions for more owners, entities, and companies to invest in forests and climate action, ultimately strengthening the market's credibility and growth potential.

The new methodologies cover a more diverse range of forest interventions, incentivizing sustainable management practices that offer climatic, environmental, and territorial benefits. Currently, the MVC has two registered projects for new afforestation, with a third in the initial validation phase. The platform currently offers 977 carbon credits for sale and maintains 29 registered users and 10 qualified verifiers.