net zero target

Spain Joins the Ranks for Net Zero Targets

The pandemic, the economy, and the state of the planet seem to have shaken up Spanish authorities. While the nation has always been passionate about clean energy, the new draft climate law takes its net zero targets to new heights.

According to the new law, which is pending parliament approval, Spain and its people want to be carbon neutral by 2050. And to do so, they plan to ban all new oil and gas projects along with their subsidies. By July, seven out of 15 coal plants in the country had ceased production.

While these statements sound sweeping, the draft climate law is based on a sound plan- one that lays out the path Spain must carve to make its net-zero targets achievable by the middle of the century.

The Path to Net Zero – Led by Energy Efficiency

The basis of the draft climate law is a simple principle of energy efficiency. Spain plans to use energy smartly – either by cutting down on consumption, or mandating the use of clean, renewable sources of power.

For instance, as an interim goal, the draft climate law plans to increase the renewables’ chunk in the energy pie to 42% by 2030. At the same time, efforts will be made to reduce primary energy consumption by 35%. Moreover, the proposed changes assert that by 2040, all vehicles must fulfill strict zero-emission guidelines as well.

What’s most impressive to see is that the new climate law is a holistic plan. Not only does it aim to meet the Paris Agreement goals, it also focuses on educating the masses on climate change.

Green energy proponents and law-making bodies understand that for seamless energy transition, they must put a framework of support and collaboration in place.

Once approved, and in the implementation stage, it will eventually create up to 350,000 new jobs. And as a result, generate more than $200bn in investments.