Experts speaking at the CERAWeek energy conference last week said that Latin American countries lacked aggressive policies to support the transition toward cleaner energy sources. This is also exacerbated by resource nationalism in several countries and a need for cheap imported fuel. Data from the International Energy Agency showed Latin America emitted as much CO2 as Russia in 2018. Its imports of crude, gas, and refined products have also increased consistently.
Decio Oddone, the CEO of Brazil’s Enauta SA, said that some countries had made progress in the energy transition despite the region's lags. This progress includes solar energy projects by Peru and Chile as well as Brazil’s hydroelectric and biofuel pushes. Colombian President Ivan Duque is also encouraging companies to cut CO2 emissions and increase exposure to renewable energy.
