The BBVA Research report on greenhouse gas emissions in Spain indicates that, while the vast potential of the Canary Islands in solar, wind, and marine renewable energies is acknowledged, the reality shows that this potential is far from being fully realized. The islands' insular condition and high dependence on fossil fuels, coupled with carbon-intensive activities, place them in a precarious position.

Unlike regions such as Catalonia or the Basque Country, which have managed to reduce their emissions despite their large productive structures, the Canary Islands are failing to decouple economic growth from greenhouse gas emissions. While other communities have prioritized the decarbonization of industrial value chains, the islands, along with the Balearic Islands, have focused on insular energy models that prioritize supply security, demand management, and self-consumption.

The independence of the Canary Islands' energy system from the peninsular one is a key factor explaining the difference in emission intensity, according to BBVA Research experts. This particularity, while presenting challenges, also opens opportunities for territorial specialization, allowing for more efficient use of available resources and generating complementary competitive advantages between regions, provided there is inter-territorial coordination and coherent state planning.

BBVA Research's analysis confirms that Spain has made substantial progress in decoupling economic growth from emissions, driven by the expansion of renewables and efficiency improvements. However, this progress is sectorally and territorially heterogeneous, which slows down the overall decarbonization process in the country.