The department of Economy and Finance, the company SENDECO2 and the Fundació Fòrum Ambiental (Environmental Forum Foundation) have jointly promoted the creation of the first platform for exchanging CO2 emission rights in the whole of Spain. This exchange, which will have its headquarters in the city of Barcelona thanks to the backing provided by the Catalan Department of Economy, will allow the over 1,000 Spanish companies affected by compliance with the Kyoto protocol to be able to buy and sell the carbon dioxide emission authorisations awarded to them by the Spanish government in line with the National Assignment Plan. The companies will be able to exchange emission rights with facilities from all over Europe, since SENDECO2 is a member of Climex, a major Pan-European alliance embracing regional exchanges from countries such as Holland, Hungary or the United Kingdom. In addition, SENDECO2 aims to become the platform of reference for emission rights purchasing and sales for Mediterranean countries.
The collaboration between the Catalan Administration, SENDECO2 and the Environmental Forum Foundation has been a key factor in promoting the project. SENDECO2 is a private business platform that has developed a safe and transparent negotiation software that enables facilities affected by this directive to exchange emission rights. The Environmental Forum Foundation, which includes various public administrations in Catalonia as well as private companies, will have the job of promoting the initiative among the business community and providing the necessary counselling to enable companies to use this tool for the purpose of reducing CO2 emissions. The Catalan Autonomous Government, by means of its Department of Economy and Finance, will award a subsidy of 200,000 euros to the Foundation to ensure that this commitment can be met. In addition, it will also provide the necessary institutional support for consolidating the project.

One of the first results of this institutional support for the project by the Catalan Autonomous Government and the Environmental Forum Foundation is the entry of private capital to SENDECO2. In fact, three companies – Ros Roca, the Hera Group and the GBI Group – will form a part of the platform’s shareholders with 51% of the capital.

Barcelona, one of southern Europe's most dynamic financial centres. The involvement of the Catalan Autonomous Government in the project, by means of its Department of Economy and Finance, has been crucial in ensuring that the carbon dioxide emission exchange was based in Catalonia. Of the 1,066 Spanish plants affected by the National Assignment Plan, 158 are Catalan, representing 15% of the total. This fact is a further step towards consolidating the Catalan capital as one of southern Europe's most dynamic financial centres. The specific nature of this market demonstrates Barcelona’s capacity for specialising and embracing new contracting environments.

SENDECO2 aims to become the platform of reference for emission rights purchasing and sales for the Mediterranean area. The aim is for this exchange to be the meeting point for companies from Spain, Portugal and Italy. These countries are likely to become net purchasers, since, in contrast to northern countries, they have failed to advance at the same rate in terms of developing less polluting industrial and energy production systems At present, Spain finds itself situated above the aims established by the Kyoto protocol.

A member of Climex, a Pan-European CO2 emission rights market. One of the advantages of this initiative is that, from Barcelona, emission rights will be able to be exchanged with facilities from all over Europe. SENDECO2 is a member of the Climex alliance, an association of various European regional exchanges which, thanks to the use of a common technological platform, creates a Pan-European emission rights market. This alliance is made up of New Values (Holland), SENDECO2 (Spain), Vertis Environmental Finance (Hungary), STX Services (Holland), APX Power Limited (United Kingdom) and APX B. V (Holland).

All the exchanges making up Climex use the same software. In this way, the companies authorised to operate in it can access all the emission rights prices over the internet and in a simultaneous and anonymous way. Inserting offers and executing purchase orders can be done in real time and in a completely equitable way.

At present around two million tonnes are being traded daily at a price of 20 euros per tonne on the wholesale market, in instalments between the big companies by way of the seven international energy brokers. In the retail cash market, it is envisaged that between 200,000 and 300,000 tonnes could be traded per month with a reference price of around 21 euros per tonne. This market is currently in the take-off phase and is expected to develop in the near future.

The Spanish government has already set up the Registro Nacional de Derechos de Emisión (Renade) - National Emissions Rights Registry, administered by Iberclear, an affiliate of the holding company Bolsas y Mercados Españoles. This is the first step in ensuring that the emissions exchanges can begin to operate, especially between small and medium-sized companies which, despite the fact that they are obliged to comply with the protocol, have greater difficulties in accessing the big international markets.