Spain advances plans for a net-zero emission target by 2050, announcing a comprehensive new climate legislation
In an effort to combat climate change and align with global goals, the Spanish government has approved a draft climate law targeting net zero emissions by 2050. This ambitious legislation, driven by Spanish Prime Minister, aims to make Spain a key player in the global shift towards a net zero economy.
According to the draft law, the energy transition will be a key focus in addressing the recovery process post-Covid-19. Spain's Minister for Ecological Transition, Teresa Ribera, stated that the energy transition will be a driving force for economic activity and job creation. The draft law is estimated to generate over €200bn investment and create up to 350,000 new jobs.
The draft law sets interim targets for 2030 to reduce emissions by 23% from 1990 levels, double the percentage of renewables to 35-42%, ensure electricity generation is at least 70% renewable, and harness energy efficiency improvements to cut overall energy consumption by 35%. All new road vehicles would need to be zero emission by 2040.
The draft law also aims to ban all new coal, oil, and gas extraction projects immediately. It seeks to end direct fossil fuel subsidies and set a goal for a 100% renewable electricity system by 2050. The approval of the draft law could boost Spain's economic growth by 1.8% over the next decade.
To ensure effective implementation, the draft law establishes an expert advisory committee to make policy recommendations, coordinate regional activity, and evaluate progress against the 2050 net zero goal. The committee will work alongside a new Committee for Reconstruction, which will assess and decide on state bailout packages for struggling industries, including the car manufacturing sector.
The draft legislation takes into account the disruptions caused by the global Covid-19 pandemic. It provides an institutional framework for the actions required by science and citizens in addressing climate change. The draft bill will provide a solid foundation for Spain's transition to a sustainable and resilient economy.
Michael Holder, the author of the article, published on BusinessGreen.com, highlights that the approval of this ambitious draft climate law marks a significant step forward for Spain in its fight against climate change. The law, if passed, is expected to have a positive impact on Spain's economy and wellbeing.
In conclusion, the Spanish government's climate law strategy aligns with the goals of the Paris Agreement and the EU Green Deal. The draft law aims to make Spain a leader in the global transition to a net zero economy, creating jobs, stimulating economic growth, and ensuring a sustainable future for all.
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