Spain, as the rest of the world, is facing a rapid energy transition. International climate talks started three decades ago and, according to the compromises adopted by the EU, decarbonization of the economy should be almost complete in about three decades. We are about half way and it is, therefore, a good moment to take stock and to decide our own path: Should Spain be a follower in the decarbonization process? Or should we make an effort to lead it?

Within the Kyoto Protocol, while Europe had to reduce emissions by 8%, Spain was allowed to increase emissions by 15%, due to its comparatively lower development level in the early nineties. Nevertheless, in the last years Spain has shown its potential to become an international leader, in particular in the field of renewable energy.

Bringing together relevant members from OECD, the Spanish government, the private sector and the academia, this roundtable seeks an answer to this question: Should Spain push to become a leader in the coming energy transition? Leadership requires implementing policies with unavoidable economic costs in the short run but may be worthwhile in the long run. Alternatively, Spain could delay the energy transition as much as possible. While this strategy may have a payoff in the short term, but its merits in the long term are debatable.