Spanish multinational electric utility company Iberdrola [IBE:SM has introduced a new venture named Carbon2Nature, as reported by ESG Today on August 14. This newly established entity will specialize in generating carbon credits through the implementation of nature-based solutions that not only reduce carbon emissions but also enhance biodiversity. The overarching objective of Carbon2Nature is to capture and store over 61 million tons of carbon dioxide equivalent (CO2e) within natural environments. This will be achieved through a series of ecosystem conservation and restoration projects, spanning more than 100,000 hectares. These projects will predominantly encompass forests, but will also extend to include coastal ecosystems and agricultural soils. Iberdrola’s vision for these initiatives is to facilitate carbon sequestration, prevent emissions stemming from ecosystem degradation, and foster both environmental and social advantages.

Iberdrola aims to create high-quality carbon credits through the development of nature-based carbon reduction projects, a strategy that aligns with the decarbonization goals of its clientele as well as its own. The company has made a commitment to achieve net-zero emissions across its entire value chain by 2040. To realize this ambitious target, Iberdrola is pursuing an array of decarbonization endeavors. These include extensive adoption of renewable energy, green hydrogen production, and the advancement of nature-based solutions and other emerging climate innovations. For instance, the company has pledged to plant 20 million trees in seven countries from 2020 to 2030, with the objective of sequestering approximately 6 million tons of CO2 over a span of three decades. Moreover, the initiatives pursued by Carbon2Nature are expected to contribute to Iberdrola’s broader biodiversity goals. In December, the company unveiled its Biodiversity Plan 2030, wherein it committed to achieving a net positive impact on biodiversity by the year 2030.

Sources:

https://www.esgtoday.com/iberdrola-launches-nature-based-carbon-reduction-project-development-business/

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/081423-spains-iberdrola-sets-up-nature-based-carbon-credits-business

https://carboncredits.com/iberdrola-launches-new-carbon-credit-company-carbon2nature-to-cut-emissions/626jh