Climate Policies in Latin America and the Caribbean: Success Stories and Challenges in the Fight against Climate Change

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May 2021
Funaro, Rita
This work is aimed at nontraditional climate policy actors such as the finance and planning ministries of Latin America and the Caribbean. The objective is to provide a glimpse into the existing, limited, regional examples of how effective climate policy may be achieved while also contributing to sustainable economic and social development.

The objectives of this work are multiple: (i) identify regional, tested, growth-spurring policy options that also contribute to sustainable development; (ii) present public and private financial solutions that may enable a just transition; (iii) offer considerations on regionally relevant green recovery packages; (iv) frame these elements within the existing regional political economya necessary condition for effective implementation; and (v) identify existing knowledge gaps while suggesting research avenues to further support the adoption of relevant measures.

The Latin American and Caribbean region is highly vulnerable to climate change. Historically, the region has adopted an “adaptation first” posture. The regions early adoption and implementation of the Paris Agreements Nationally Determined Contribution (NDC) framework also led to some ambitious decarbonization plans, as well as to considerable advances in the energy and transportation sectors. As countries submit the second iteration of their NDCs, some coordinated whole-of-government approaches emerge. Notwithstanding some positive signs, plenty remains to be done in sectors such as agriculture. From an implementation perspective, the challenge remains the same: to transform ambitious objectives into measurable results.