Energy and the climate in 2017: limited volatility, climate implementation and political uncertainty

The Elcano Royal Institute is a think-tank for international and strategic studies that analyses world events and trends from a Spanish, European and global perspective.

The Analyses of the Elcano Royal Institute (ARI)are short pieces - of around 3,000 words - on aspects of current international affairs considered to be of relevance to Spain, its foreign policy or its security. In broad terms ARIs are intended to have a predictive bearing on events.The year 2016 bequeathed Spanish foreign policy some major and pressing challenges in the arena of energy and climate: the swift coming into force of the Paris Agreement, the completion of the rulebook following COP22, the energy and climate uncertainties stemming from Brexit and the Trump Administration, the long-awaited Energy Union Winter Package and an agreement between OPEC and Russia to restrict oil production. The 2017 brings: development and implementation of European and Spanish climate policy; and the opportunities that emerge from the leadership vacuum that the US is expected to leave in international climate talks