Spain | From National to Sectoral Perspective: A Comprehensive Analysis of GHG Emissions

Summary

In 2022, Spain’s greenhouse gases (GHG) emissions increased due to the post-pandemic recovery and a more carbon-intensive energy mix. The sectoral analysis shows progress in emissions intensity, particularly in the most polluting activities, although total improvement is limited. More effective strategies are needed.

Key points

• Key points:
• In 2022, a more carbon-intensive energy mix affected by geopolitical factors, along with the post-pandemic economic recovery, boosted emissions in Spain (3.1% GHG and 4.5% CO2). However, the intensity of emissions per unit of GDP continues to decline thanks to improved energy efficiency, which more than offsets the absolute increase in emissions.
• Understanding sector vulnerabilities to climate transition requires analyzing not only direct emissions (Scope 1) but also indirect emissions (Scope 2 and 3) embedded in the full lifecycle of products and services. BBVA Research estimates Scope 2 and 3 emissions with a methodology based on Input-Output tables.
• Annual revisions of environmental accounts impact on sectoral emission distribution. According to last figures published by INE, total emissions were slightly downwards revised in 2008-2021, but changes at sectoral level were more relevant, impacting emissions distribution. Scope 3 emission-intensity ratios were also affected, although to a lesser extent.
• Emission-intensities of the top ten polluting sectors improved. Scope 3 ratios decreased by 8.5% in these sectors during the period 2016-2019, which represents an annual decrease of 2.2%. However, the overall reduction was modest (1.3% annually). This analysis brings to light the disparity in emission-intensity improvements.

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