Decarbonization in Spain: 2022 Emissions, Sector Trends, and Top Emitters

Spain reported a 9 percent rise in emissions subject to the CO2 market for 2022. Yet among the largest emitters there are those that cut emissions more significantly. The Sustainability Observatory Report and GrandMother study, Decarbonization 2023: Europe, Spain and the autonomous communities, notes that Castilla y León, Cantabria and Madrid lead the reduction of CO2, compared with Murcia and La Rioja.

In 2022, emissions covered by the carbon market represented 34.1 percent of total emissions in Spain, while sectors not covered by the market accounted for about 66 percent, including housing, agriculture, transportation and heating.

The Madrid presentation of the study estimates a 24 percent increase in greenhouse gas emissions tied to energy production, prompting the authors to say that progress in decarbonization for 2022 cannot be judged in a vacuum because the year featured strong economic growth—roughly 5.5 percent—after the COVID-19 disruption.

Spanish companies cut their CO2 emissions in 2022, according to a report

The recovery also coincided with a surge in aviation emissions, which rose by 108 percent, followed by fossil fuels at 20 percent and oil refineries at 6 percent. Meanwhile, other sectors registered declines such as chemicals at 3 percent, cement at 9 percent, steel at 10 percent, ceramics at 13 percent and paper at 22 percent.

The Observatory emphasizes that all sectors must follow a deep decarbonization path to meet the 2030 targets of the National Integrated Energy and Climate Plan (PNIEC).

Installations of the biofuel plant Repsol is building in Escombreras. IT

The study identifies the ten Spanish companies responsible for the largest equivalent CO2 emissions, totaling 12,427,286 tons for Endesa, 11,554,316 tons for PDE, 10,814,034 tons for nature, 7,448,297 tons for ArcelorMittal, 5,049,350 tons for CEPSA, 4,888,614 tons for FCC, 3,400,650 tons for Iberdrola, 2,954,190 tons for Enagás, 2,308,474 tons for ENA, and 2,049,148 tons for CEMEX.

Together, these ten companies account for about 60.5 percent of emissions under the carbon market and roughly 20.5 percent of all emissions in Spain. The report shows that the top 20 players already account for around 72.5 percent of market emissions and about 24.5 percent of total emissions in the country.

Those who pollute most are also the ones who contribute to solutions.

Within this group, several leading players have also shown reductions. The study highlights Cemex cutting its emissions by 16 percent, ArcelorMittal by 10 percent, and FCC by 2 percent, while CEPSA and Iberdrola maintained stable levels.

Conversely, Enagás saw a sharp rise, with emissions increasing by 111 percent from 2021 to 2022, and other companies reporting notable shifts as well.

Aviation remains a critical challenge

Among the top 20, aviation-related firms stand out for higher emissions, with EasyJet leading the way at a 239 percent increase, followed by substantial growth in flying activities and Iberia.

Aviation continues to increase emissions

On the other hand, the refining sector, which accounts for about 13 percent of CO2 emissions in the carbon market, shows little decarbonization and has risen by around 6 percent since 2022. Leading refiners such as BP, CEPSA and especially REPSOL have increased emissions in the year, with REPSOL showing a notable rise.

The broader fossil fuel sector, including power generators, has improved relative to 2008 but still rose roughly 20 percent in 2022 compared to 2021. Within this group, Iberdrola and Endesa have posted substantial declines since 2008, while some gains occurred in 2022.

The cement sector reduced emissions by half since 2008 and by 9 percent in the most recent year. The steel, iron and related sectors, making up about 6 percent of the carbon market, cut emissions by 10 percent in 2022 and by 20 percent since 2008.

A detailed version of the study is available in the Observatorio Sostenibilidad report published in 2023. The document provides an in-depth look at sector-by-sector performance and the evolution of emissions under the carbon market.

For further context, this analysis is part of ongoing work by environmental authorities and industry observers aiming to map decarbonization progress across Spain and beyond, with emphasis on lessons that may inform Canada and the United States as they pursue related emissions targets.