Is Latin America Falling Behind in the Energy Transition?
Energy attorney Claro Manuel Cotes was interviewed by Energy Advisor, a publication of The Dialogue, about recent warnings that Latin America and the Caribbean are lagging behind in the global transition to clean energy. While the region hosts some of the world’s most dynamic renewable energy markets, the pandemic forced many countries to pursue community energy access at low costs, regardless of the source. "Although there are standards in place that address sustainability concerns, the transition to renewables may negatively affect communities’ basic needs. Countries must consider energy transition costs, especially as vulnerable populations could be the most affected," said Mr. Cotes.
However, shifting to renewable energy could aide in the region’s economic recovery from the pandemic. He notes that renewable energy sources can serve as prevention measures against potential future economic crises and can create more jobs than those created by investing in fossil fuels. "The risks of delaying the region’s clean energy transition include a greater dependence on fossil fuels, higher carbon dioxide emissions and less energy security," he continues. "Governments must be more aggressive in the implementation of their policies, but they must also always consider the real-world impact on communities’ basic needs.”