This is the ranking of the Spanish companies with the most emissions that cause global warming

Spain increased its greenhouse gas emissions by 5.

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NewsEditor
27 September 2022 Tuesday 05:39
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This is the ranking of the Spanish companies with the most emissions that cause global warming

Spain increased its greenhouse gas emissions by 5.1% last year compared to 2020. And this increase was specifically 3% in the specific case of the sectors subject to the emission rights trading market, where the large sources of heating (refining, electricity, iron and steel, cement...). This market regulates 32% of all emissions, while the rest (68%) corresponds to activity sectors with diffuse emissions, generated in multiple sources, such as residential, transport, agriculture or waste.

2021 was marked by economic recovery (after the impact of the covid epidemic) and it was a year in which there was a decrease in emissions from the energy sector (with some exceptions) and an increase in gases released into the atmosphere in the case of companies in the aviation, steel, cement and chemical sectors.

“We cannot talk about progress in decarbonization” in Spain, says Fernando Prieto, coordinator of the Sustainability Observatory, author of the Decarbonization 2022 report. “All companies should be presenting a path of deep decarbonization, if they want to achieve the objectives included in the National Energy and Climate Plan for 2030”, recalls this expert.

The 10 companies that generated the most emissions last year in Spain were Repsol (10.7 million tons of CO2-eq.), Endesa (9.3 Mt), EDP (8.2 Mt), Arcelormittal (5.6 Mt ), Naturgy and CEPSA (4.9 Mt), FCC (3.5 Mt), CEMEX and Iberdrola (2.4 Mt) and Lafargeholcim (2 Mt), according to the aforementioned report.

The emissions of these 10 companies represented 18.7% of the total CO2 released in Spain and 57% of the emissions subject to the market for the purchase and sale of emission rights (by which, as we have said, intensive sectors are governed in energy, such as electricity, cement, refining, tiles...).

If the first 20 large companies that emit CO2 are considered, these represent 23% of the total (and 69% of the carbon market emissions).

And if the 50 companies that lead this ranking were counted, then they would account for 27% of the country's total emissions in 2021 and 80% of the carbon market's emissions.

Many of these companies, however, have managed to reduce their emissions, the report highlights.

The companies that have managed to present a better balance at this point (by cutting their emissions between 2020 and 2021) are Naturgy (-19%, with a 1.1 Mt CO2 eq reduction), REPSOL (-5%, and - 0.6 Mt), Iberdrola (-14% and -0.4 Mt), Lafarguholmcim (-13% and -0.3 Mt), Fertiberia (-14% and -0.2 Mt), Enagas (-14 % and -0.2 Mt) and BP (-4% and -0.1 Mt).

For their part, those that have increased the most during 2021 were EDP 53% (2.8 Mt CO2 eq), Arcelormittal (35% and 1.5 Mt), FCC (15% and 0.4 Mt), Endesa (3% and 0.3 Mt) and Vueling (55% and 0.3 Mt).

By sectors, an increase of 33% has been observed in emissions in the fields of aviation (which represents 1% of emissions in 2021), while the rise has been 14% in the road transport sector (which contributes 28% of total emissions) and 5% in the case of industry, which includes cement, steel and the chemical sector (21% of emissions).

For its part, the increase of 1.8% in the refining sector (3.6% of emissions) and 1.4% in the livestock sector (9% of total emissions) also stand out.

Electricity generation increased by only 0.4% (represents 11% of emissions) while the commercial and institutional residential sector as well as the waste sector have remained practically stable and have represented 8.8% and 4.6% respectively.

All of this is included in the Decarbonization 2022 report, which has been published since 2012 and which includes data on the evolution of emissions from the sectors subject to the carbon market for energy, cement, aviation, refining, chemicals, etc.) on a European scale. , Spanish, by autonomous communities and by facilities.

Detailed monitoring of the decarbonisation of companies is key to observing the real results of the policies implemented by governments and companies. Furthermore, it has profound implications for financial groups when assessing the risk of their investments.

The report warns that, considering the total emissions in Europe (with data between 1990 and 2020), Spain is the second country that has reduced them the least in these 30 years, 8%, while other countries show more notable decreases.

For example, the United Kingdom reduced its emissions by 45%; Germany, 42%; the EU28, 29%; Belgium 26%; France, 28%; Italy, 27%, and the Netherlands -26% In 2021 these results have worsened due to the increase in emissions.

Looking at the 2021/2020 energy data published by EUROSTAT, it can be seen that Spain is the fifth country that has increased its emissions the most and the results are only worse in Bulgaria, Estonia, Slovakia and Italy. The carbon market in Europe in 2021 managed to reduce its emissions by 5% (while Spain increased them by 3%).

Spain accounts for 8% of total market emissions and is the fourth country in Europe 28.

In the comparison by country between 2020 and 2021, it can be seen that Spain is in an intermediate situation, like Italy or Finland, but better than Germany or Sweden, which increased by 11%.

“Since Spain has not adopted measures towards decarbonization, now they must be taken more forcefully”, concludes the report

For their part, the autonomous communities have shown different behaviours; On the one hand, Asturias, La Rioja, Navarra, Madrid and the Balearic Islands registered increases between 15% and 35%, while Aragón, Murcia and the other two Castillas showed reductions between 10 and 15% in carbon market emissions.

“In short, a decarbonization of Spain has not been observed in the year 2021, when a profound decarbonization of all sectors should be observed to achieve the objectives of the National Energy and Climate Plan, which must be a reduction of 23% for the year 2030”, says the report, which observes as a “positive, and almost unique” element the advance in the penetration of electrical renewable energies.

Meanwhile, the advance in fuel consumption data for the year 2022 (3.9% in oil products and 26.8% in natural gas), as well as the increase in combined cycles and coal, in addition to the extension of the drought -which causes the production of hydroelectric energy to collapse- and the increase in transport draw a scenario for 2022 that is also very pessimistic.

Fernando Prieto, coordinator of the Sustainability Observatory highlights that there are “differentiated responsibilities in CO2 emissions” and “very few companies are responsible for a very important part of global warming”.

He regrets in this line that "after the good punctual results of 2020, Spain has once again moved away from the objectives of the National Energy and Climate Plan", where a 23% reduction in greenhouse gas emissions is set as a goal by 2030 compared to 1990.

"A radical change will be necessary in the coming years to meet the decarbonization objectives in the industrial, energy, transport, residential, commercial and institutional sectors," he adds.

Juan A. Avellaner, also a member of the Observatory, recalls that "decarbonization is a global imperative above any contingency" as well as that "we have innovative solutions and technologies to decarbonize the economy, let's apply them without further excuses and delay".

Finally, Borja Zausen from the consulting firm Grandmother remarks “we already know the scope and dimension of our runaway activity. Now it is necessary to take action from hope, but with firmness and resolution. We still have time to decide how we want our story to be told."

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