Sustainable Economy Law

The Draft Bill for the Sustainable Economy Law has been drawn up as the cornerstone of the Spanish government's strategy to define the new growth model for the Spanish economy. It is formulated around three central themes: improvements to the economic environment, the promotion of competitiveness and the development of sectors working in the fight against climate change. As such, the law will stimulate R&D and innovation by increasing the percentage of corporate taxes that can be deducted for innovative activities. Specific measures will benefit companies in renewable energy, and other climate change mitigation sectors, including in energy efficiency and savings. The Sustainable Economy Law sets national targets in accordance with European objectives in renewable energy: a 20% share of renewable sources in energy consumption, including at least 10% of renewable sources in the transport sector.

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