Corporate Preferences for Forest Carbon Offsets in Spain: Insights from Firms In and Out of a Voluntary Registry

Achieving net zero emissions is not just a global goal, but an urgent challenge that requires joint action by governments, businesses and citizens. The Paris Agreement, the international climate summits and the IPCC reports have made it clear that companies, as major CO$_2$ emitters, have a key role to play in this transition. In this context, voluntary carbon markets have become an important tool to enable companies to offset the emissions they cannot reduce directly. This study examines the preferences and attitudes of Spanish companies towards offsetting greenhouse gas emissions from forests, comparing companies registered in the Carbon Footprint Registry with those that are not. Using the theory of planned behaviour and a discrete choice experiment, we apply structural equation modelling and logistic models to identify determinants and differences in decisions. The results show that for companies on the Registry, consumer perception, the actions of other companies and internal attitudes are the main drivers for offsetting. In contrast, companies that are not part of the Registry prioritize economic benefits and the actions of their peers. The results suggest that knowledge of carbon markets and environmental practices is crucial: better informed companies show a greater willingness to pay for carbon offsets.