Spain's GHGs fell 6.5% in 2008: panel

Spain’s economic slump largely caused a 6.5 per cent fall in 2008 greenhouse gas (GHG) emissions.

Figures released today said the sharp recession, a fall in power demand and a greater share of generation from renewable sources had all contributed to the big decline in Spain’s emissions last year.

The data, which was presented by Comisiones Obreras, a working group which sits on a panel that advises the government on climate change, showed that Spain remains far behind its emissions target under the Kyoto protocol.

Even after the fall in 2008, Spain’s emissions are 42.7 per cent above its baseline year, the panel said.

The 1997 global climate pact limits emissions growth in Spain to 15 per cent above 1990 levels on average between 2008 and 2012.

Credit-buying

Earlier this year, the country reiterated its intention to buy 159 million government emissions rights and offset credits to help it meet its Kyoto target.

GHG emissions are likely to bounce back up again when the economy recovers, Comisiones Obreras said in a press release.

However Spain, which is the midst of its worst economic slump in generations, will experience a further shrinkage in GDP this year, according to the country’s central bank.

Meanwhile, the International Monetary Fund reckons Spain will have to wait until 2014 before it will post GDP growth of above 2 per cent.

Figures released earlier this year showed Spain’s emissions from sectors covered by Europe’s emissions trading scheme were down 12.4 per cent last year compared with 2007.