Country:Spain
Year:2011
Policy status:In Force
Jurisdiction:National
Date Effective:2011
Date Ended:2015
Policy Type:Economic Instruments>Fiscal/financial incentives>Grants and subsidies
Agency:Magrama
URL:http://www.magrama.gob.es/en/cambio-climatico/temas/proyectos-clima/RD_1494-2011_LES_tcm11-181534.pdf
URL:http://www.magrama.gob.es/es/cambio-climatico/temas/proyectos-clima/FES_ing_tcm7-213324.pdf
Legal References:RD 1494/2011, de 24 de octubre, por el que se regula el Fondo de Carbono para una Economía Sostenible
Funding:15.000.000 EUR
Climate Change Description:

The Carbon Fund for a Sustainable Economy (FES-CO2) promotes low carbon growth, while consolidating a sustainable and innovative economy, that will generate jobs and wealth in sectors related to climate change action.

FES-CO2 aims to boost the activity of Spanish companies in the so-called "diffuse sectors" (not subject to the European Union Emissions Trading Scheme, EU ETS, e.g. transport, agriculture, residential, waste) by purchasing verified emissions reductions resulting from the development of emission reduction projects in the country. These emission reduction projects in diffuse sectors, or Climate Projects, are designed to set a transformation path for the Spanish production system towards a low carbon model. Moreover, these projects will help to meet the emissions reduction targets assumed by Spain both at the European and International level.

Emission reductions gained through FES-CO2 require compliance with certain requirements, including those set out in Article 7 of RD 1494/2011.

Related policies:Carbon Fund for a sustainable economy - Fondo de Carbono para una Economía Sostenible (FES – CO2)

Last modified: Thu, 21 May 2015 12:20:46 CEST