Spain

Law 7/2021 on climate change and energy transition

Legislative
Act
Adaptation Framework
Mitigation Framework
Passed in 2021
The purpose of this law is 1) to ensure compliance by Spain with the objectives of the Paris Agreement, 2) facilitate the decarbonisation of the Spanish economy, its transition to a circular model, so as to guarantee the rational and supportive use of resources, and 3) promoting adaptation to the impacts of climate change and the implementation of a sustainable development model that generates decent employment and contributes to the reduction of inequalities. This law notably ends new licensing for the exploration and extraction of oil and gas in the country.

Articles 32 and 33 of the law notably establish climate risk reporting obligations on credit institutions and aim to facilitate investments in sustainable sectors in parallel.

Documents
  • Net zero - 23% reduction of GHG emissions by 2030 compared to 1990 levels and climate neutrality by 2050 
    Economy-wide | Fixed level target | Target year: 2050 | Base year: 1990
from the Grantham Research Institute
from the Grantham Research Institute
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