The National University of La Plata (UNLP) announced the launch of a project to boost the carbon credit market in Argentina. This initiative includes tools for carbon footprint certification and CO2 capture validation in the country.
This will enhance these markets, a tool used worldwide to generate direct economic incentives for sustainability.
In this way, the UNLP emerges as the first institution of this magnitude to create a comprehensive proposal aiming to “boost carbon markets transactions in Argentina.”
Moreover, it represents an opportunity for a reliable and accessible validation system at a local level. How would it work?
## Carbon Credit Market in Argentina: UNLP’s Proposal
The initiative involves an official certification of carbon footprint measurements and a registry of professionals performing these tasks. It will also introduce the Carbon Neutrality Seal for companies that manage to neutralize their carbon emissions.
Simultaneously, a carbon capture project validation service will be launched for the forestry sector, which will include the issuance of VCUs (Verifiable Carbon Units) and an official registry upon commercialization.
Through this proposal, two sides of a market will be activated:
– Projects that absorb carbon can generate economic profits by selling credits endorsed by a local institution.
– Emitting organizations can have a certified carbon footprint and offset emissions through these credits.
This represents a sustainable milestone since, until now, such certifications were only possible through informal institutions or foreign entities at a high cost.
“In Argentina, there are numerous carbon capture projects, but they lack accessible local verification and validation mechanisms,” explains Nicolás Bardella, director of the UNLP Carbon Project. “Through this program, we will provide opportunities for forestry projects to carry out these processes reliably and economically,” he adds.
## Project Stages
Initially, the proposal will focus on credits coming from forest areas, a key sector in Argentina. Forest plantations accumulate 70 million tons of organic carbon, according to a study by INTA and the Ministry of Agriculture of the Nation.
Later on, the project will expand to other sectors such as agriculture, energy, industry, waste, and transportation.
The UNLP estimates that this service will cost only a quarter of what international companies currently offer in the market, positioning itself as a competitive local alternative.
“Small and medium-sized enterprises will be able to certify their carbon footprints and obtain a Carbon Neutrality Seal, something previously limited to large companies and multinationals,” Bardella adds.
## What Are Carbon Markets
Carbon markets arise as a means to channel financing, mainly private, for climate action. Carbon credit markets connect suppliers with companies looking to offset their emissions.
Sectors such as energy, industry, and agriculture are some of the main buyers of credits as they seek to neutralize their carbon footprint.
Having a Carbon Footprint certification and a Carbon Neutrality Seal is increasingly important worldwide. Carbon worth over $1 billion was traded globally, according to MSCI Carbon Markets estimates.
There are over 30 carbon markets worldwide where entities can buy or exchange emission rights they produce, according to Bloomberg NEF.
This trend is growing. In late November, Brazil’s Chamber of Deputies approved a bill regulating the local carbon market. This bill enables the purchase and sale of carbon credits, allowing state and federal governments to sell credits for green areas on public lands.
“We have great potential for these projects thanks to the country’s biodiversity and the amount of natural ecosystems,” highlights Bardella.
In fact, Argentina is one of the few countries that captures more carbon than it emits, achieving a positive balance, according to a NASA map published in 2023 that measured carbon dioxide emissions and absorptions based on satellite data.
The team behind the initiative is composed of the Sustainability and Triple Impact Group of the Faculty of Engineering of the UNLP, incorporating professionals from the same faculty and other academic units of the University.
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