DNV has warned Spain must accelerate action to meet climate targets despite potential to cut emissions by 74% by 2050.
DNV said the country has reduced emissions by 13% so far against a target of 32% compared with 1990 levels under its national plan.
The company added that under current trends energy and process-related CO₂ emissions would fall by 74% by 2050, leaving Spain short of carbon neutrality.
The report identifies transport as the largest emissions source at nearly 120 million tonnes of CO₂ in 2023, with reductions of 46% expected by 2050.
Power sector emissions are projected to fall from 36 million tonnes to 2 million tonnes by 2050 driven by renewable energy growth.
“Spain has a strong foundation for a faster and deeper energy transition, but closing the gap to achieve the national targets will require decisive action,” said Brice Le Gallo, vice president and regional director for energy systems at DNV (pictured).
“Electrification of transport, heating and industry must accelerate, while investments in grid capacity, storage and permitting reforms are essential to unlock the next wave of renewable growth.”
DNV said electricity demand is expected to more than double by 2050, requiring significant grid expansion and flexibility solutions.
The report also highlights social acceptance as a growing risk, with community resistance affecting renewable energy deployment.