• Pioneering operation with EUA2 allowances in the Spanish market
  • The ETS2 will regulate emissions from transport and buildings starting in 2027
  • The operation strengthens Global Factor’s position as one of the leading independent players in European environmental markets

Bilbao, May 30, 2025. Global Factor has completed its first EUA2 emissions trading operation under the new ETS2 market in Spain — a pioneering step in the development of this system, which will expand the scope of the European Union’s carbon market to new economic sectors starting in 2027.

Specifically, Global Factor has sold a package of EUA2 allowances with a December 2028 maturity (DEC28) in a bilateral transaction with another key player in the sector. This strategic deal positions the company as a benchmark in the emerging ETS2 market, reinforcing its role as a specialized operator in European carbon markets.

“The ETS2 market will become a powerful driver for the decarbonization of the European economy and will be a key factor in companies’ decision-making processes in the coming years,” says Kepa Solaun, CEO of Global Factor. “Our commitment is clear: to help our clients accelerate the energy transition and become a comprehensive provider in environmental markets and decarbonization on an international scale.”

What is the ETS2?

The ETS2 (Emissions Trading System 2) is the new European emissions trading scheme designed to complement the original EU ETS (ETS1), which focuses on industrial sectors and fixed installations. The ETS2, in contrast, will apply to the road transport and building sectors, covering emissions from the use of fossil fuels by households and small businesses.

This second market will come into force in 2027, although mechanisms are already emerging to allow early hedging operations, such as the one executed by Global Factor.

According to the European Commission, the ETS2 will affect fuel prices for over 300 million European citizens and will be a key tool in achieving net-zero emissions by 2050.

The ETS2 market will serve as an incentive for decarbonizing the European economy and will be central to corporate decision-making in the years ahead.

Leadership from the start

For Global Factor, participating in ETS2 from its early stages is a demonstration of its strategic vision and leadership ambition.

“At Global Factor, we aim to support organizations across all relevant environmental markets, anticipating their needs. This trade is a testament to our agility and technical expertise,” says Iker Larrea, Head of Trading at the company.

Global Factor is already offering ETS2 products through its trading desk and encourages companies, energy suppliers, and financial institutions to get in touch directly for more information on prices, products, and hedging strategies.