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CO2 reduction policies in Spain strengthen the services sector
Date:7/23/2010

impact of the timing of CO2 reduction is determined by technological evolution.

"The conclusion is that if technology evolves following the current trend the best option is above all to reduce emissions rather than postpone it in time because the difference in costs is relatively insignificant. However, if technology evolves in a more radical way and in the short-term, for example, with new batteries to produce electric cars that are much cheaper than the current ones or substantial advances arise in renewable energy to replace other technology, it would be more profitable to delay the reduction of emissions.

Policies for reducing emissions in Spain

In the Kyoto Protocol Spain committed to increase its emissions by no more than 15% compared to the levels in 1990. This objective was extended through the National Allocation Plan (2008-2012) to 24% through by counting carbon sinks (2%) and the purchase of credits in the market of rights (7%).

In 2007 emissions exceeded 50% and positioned Spain as one of the European countries furthest from meeting its objectives. Even though this trend started to reverse in 2006 (the economy grew by 4% and emissions fell by 4%), it was the economic crisis (2008-2009) which forced a reduction in emissions.


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