04 Oct IIDMA together with environmental NGOs: “Spain supports climate change with subsidies worth more than € 1.000 million per year”
IIDMA and other environmental Spanish NGOs have launched a joint press release echoing the information on Spanish fossil fuels subsidies provided by the CAN Europe (Climate Action Network) and ODI´s study “Monitoring Europe´s fossil fuel subsidies”. This reports reveals high economic aid figures in eleven EU countries, far from the EU´s commitment to withdraw from fossil fuel subsidies by 2020. In the particular case of Spain, more than €1.000 million have been aimed to support fossil fuels.
Spain has capped total support for coal production losses at €31 million in 2015, and €75 million in 2018. In the same way, €470 million to fossil fuel power were funded through the country´s capacity market. According to regulators´ estimations, up to 80% of gas-fired power plants would be unfeasible without this support. Fiscal exemptions to mining and agriculture sectors are equally high, and were €380 million worth in 2014.
The signatory organizations highlight the stress that the study puts in Spain not publishing an inventory of its fossil fuel subsidies or other environmental harmful subsidies. This contrasts with countries such as Germany, which demonstrates higher transparency. It is difficult to assess whether or not the Spanish government is on the right track on phasing out fossil fuel subsidies, or even if a roadmap is being followed. Due to this lack of transparency, the researchers admit that they found no data for 56% of the fiscal support instruments and 20% of the projects supported through public finance.
The document also points out the need to end with this climate-change-generator funding if we want to stay below the 1,5ºC global warming limit. Something challenging, since Spain provides international public finance, worth €56 million on average per year, for oil, gas and electricity production projects through the country’s export credit agency, Compañía Española de Seguros de Crédito a la Exportación (CESCE). In particular, the countries benefiting from this support were Angola, Costa Rica, Kenya, Romania and Turkey.
According to the signatory organizations, the Spanish government must expedite the divestment in this kind of fossil technologies, redirecting the funds to the development of a 100% renewable energetic system. This report also assess how the Spanish government keeps on supporting the greenhouse-gas-emitters´ interests. It also recalls the thousands of persons and institutions that have already positioned themselves with regards to phasing out fossil fuel subsidies.
Amigos de la Tierra
Ecologistas en Acción
IIDMA (Instituto Internacional de Derecho y Medio Ambiente)