Celebrating €1 million invested in Spanish forests for CO2 offset potential, supporting decarbonization in Spain. 

– Over €1MM invested in Spanish forests thanks to the success of ClimateTrade’s online marketplace

-More than 60 companies and individuals have invested more than €1MM to support sustainable forestry solutions

-ClimateTrade forest projects have generated over 133,000 tons of CO2 offset potential (equivalent to 31,163 round-trip transatlantic flights)

-40 forest projects in Spain have been impacted by ClimateTrade carbon credits

-To celebrate ClimateTrade are offering a flash 5% discount on forest projects in their online marketplace

(VALENCIA, SPAIN, – March 21, 2024) ClimateTrade, a leading climate technology startup headquartered in Valencia, announced significant progress in its Spanish forest projects. The company has successfully supported the advancement of 40 forest initiatives, offering over 133,000 tons of CO2 offset potential. This achievement is a testament to the collective efforts of more than 60 companies and individuals who have invested over €1 million in these impactful projects.

“We are proud to be driving positive change in Spain through these innovative forestry projects,” said Francisco Benedito, CEO and Co-Founder at ClimateTrade. “These initiatives not only contribute significantly to CO2 reduction but also promote biodiversity conservation and help us build a sustainable future. To have the opportunity to announce this on International day of Forests is a significant result for all of us at ClimateTrade as well as all that are involved in forestry conservation.”

The theme for International Day of Forests 2024 is Forests and Innovation: New Solutions for a Better World. This aligns with ClimateTrade’s vision which is to pioneer technology to confront the planet’s most pressing challenges. Since 2018 the company has digitized the purchase of carbon credits and utilized blockchain technology, introducing autonomy, transparency and traceability to the carbon market. Empowering companies and individuals who want to take a stand in the fight against climate change.

Deforestation remains a critical global challenge, with a staggering 10 million hectares lost annually and another 70 million ravaged by fires. Throughout 2023, wildfires in Spain had burned an area of 91,220 hectares. Just one year earlier, the Mediterranean country had seen its most devastating fire season in over a decade. In 2022, over 306,000 hectares were lost to wildfires. To combat this ongoing crisis, technological advancements are proving to be essential. Advancements in forest monitoring technology have revolutionized how countries track and report on their forests. This transparency has yielded significant progress, with a remarkable 13.7 billion tons of CO2 reductions or enhancements reported to the United Nations Framework Convention on Climate Change.

Sustainable forestry projects on the ClimateTrade marketplace

Forest projects generate significant benefits to the atmosphere as well as conserving habitats for rich biodiversity. Projects such as Bosque Alalpardo, a reforestation initiative in Madrid. Its aim is to recover a riverside area and increase its biodiversity, as the municipality is declared a SPA (Special Protection Area for Birds). The project has planted several species of trees, such as hackberry (Celtis australis), hawthorn (Crataegus monogyna), blackthorn (Prunus spinosa), poplar (Populus alba), willow (Salix alba) and juniper (Juniperus spp).

This project type is ARR (Afforestation, Reforestation & Revegetation). This means planting new forests or restoring degraded ones to increase carbon sequestration and reduce greenhouse gas emissions. These types of projects can generate carbon credits by showing how they increase the amount of carbon stored in forests through planting or regrowing trees. Most of the forest projects ClimateTrade represents in Spain can be found in Castilla and Leon, Galicia and Madrid.

Although Spain has over 11 billion trees (source: world in data) major challenges still remain in reaching SDG15 – Life on land. One of the United Nations sustainable development goals. SDG 15 exists to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss. While ClimateTrade is now a global organization, the company has a steadfast responsibility to channel vital funds to protect and restore Spain’s natural resources.

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• Source: https://climatetrade.com/climatetrade-celebrates-over-e1-mm-investment-in-40-spanish-forest-projects-enabling-more-than-133000-tons-of-co2-offsetting-potential-on-international-day-of-forests/