Law 2/2024 on Climate Change and Energy Transition of Galicia
Galicia commits to a low-carbon economy with Law 2/2024, which establishes obligations and opportunities for companies operating in the community. This regulation creates a Galician carbon footprint registry and a voluntary carbon credit market, aimed at reducing emissions and offsetting environmental impact.
Who is obligated in Galicia?
- Companies with more than 50 employees
- Must register their carbon footprint in the Xunta de Galicia system
- Applies to sectors such as industry, commerce, and services
- Companies with carbon absorption projects
- To access the voluntary carbon credit market
- Must certify their reductions to generate offsettable credits
- Examples: reforestation projects, energy efficiency, or renewables
Application deadline:
Pending official calendar from the Xunta. Companies are recommended to prepare in advance.
Notable updates of the law:
- Creation of the Galician Carbon Footprint Registry
- Implementation of the voluntary carbon credit market
- Investment of 1.767 billion euros to achieve climate neutrality before 2030
- 93 measures included in Galicia's climate strategy
Steps to comply with the law:
- Measure your company's carbon footprint
- Register emissions in the regional system
- Implement reduction measures
- Apply for public aid
- Offset emissions (if applying to the voluntary market)
Available subsidies:
- Funding for reduction plans and energy efficiency
- Support for renewable installations
- Aid for CO2 absorption projects within the voluntary market
Consequences of non-compliance:
- Economic sanctions
- Loss of access to subsidies and public contracts
- Lower competitiveness compared to sustainable companies
Advantages of complying:
Complying with Law 2/2024 allows companies to anticipate future requirements, access public aid, and demonstrate a solid commitment to sustainability.
If you want to know more, consult our blog here.
Is your company affected by this law? At airCO2 we help you manage it step by step.