Spain | Clean Energy, Key to 2023 Emissions Cut in Spain

Summary

The 2023 Air Emission Accounts highlight an annual decrease in GHG emissions. This reduction has been driven by a transition to a “cleaner” energy mix, coupled with improvements in energy efficiency. These advancements represent a meaningful step forward on the path toward meeting the ambitious climate goals set.

Key points

• Key points:
• In 2023, the Spanish economy released fewer greenhouse gasses (GHG) and CO2 into the atmosphere compared to the previous year, with reductions of 5.5% and 5.7%, respectively, after two consecutive years of increases. This reduction can be attributed to the normalization of economic activity after the post-pandemic rebound and a shift toward a less carbon-intensive energy mix, driven by the increased penetration of renewables.
• A significant reduction in GHG emissions in 2023 is noteworthy for the electricity and gas, and petroleum sectors, as well as for metallurgy and construction. It is worth noting that many of these sectors have not yet returned to pre-pandemic emission levels.
• Historical data of emission intensity ratios -commonly used as indicators of vulnerability to transition risks - has been impacted by relevant data revisions at sectoral level.

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