At first glance, they may seem like just another financial instrument. But in reality—and this is my personal view—credits are becoming a true lever for transformation, combining sustainability, industrial innovation, and energy autonomy. And in this new landscape, the Iberian Peninsula holds a privileged position to lead from the south.
Here are the key points on which I base this view:
From COP to the Real Economy: A European Commitment
At the recent COP29, the EU reaffirmed its commitment to a high-integrity carbon market by supporting stronger rules under Article 6 of the Paris Agreement. It is also evaluating their integration to achieve a historic goal: a 90% reduction in net emissions by 2040 compared to 1990.
The EU ETS (European Union Emissions Trading System), operational since 2005, has become the world’s largest carbon pricing platform. Its reforms in 2023 and 2024—part of the Fit for 55 package—have expanded its scope and ambition. The next game-changer will be in 2027, when ETS2 is launched to cover fossil fuel emissions in transport and buildings, accounting for nearly 75% of current emissions. This could drive carbon prices to record levels, nearing €150/tCO₂.
A portion of the revenue will fund the Social Climate Fund, which will mobilize over €86 billion between 2026 and 2032 to support vulnerable households and small businesses.
Europe Connects (and Protects).
The Iberian Peninsula: Europe’s Energy Jewel
Energy vectors such as biogas and biomethane are experiencing a boom as key solutions to cut emissions, generate carbon credits, and replace imported fossil gas—moving toward greater energy self-sufficiency.
When hybridized with capture technologies, biomethane becomes a source of negative emissions, creating BECCS systems (Bioenergy with Carbon Capture and Storage). This opens significant opportunities for sectors like agriculture, agribusiness, and circular economy. In short, carbon credits are no longer optional—they are part of the new language of competitiveness, resilience, and international cooperation.
