Latin America tops climate change investment boom

 
593Views 11Comments Posted 02/11/2017

WHILE some sectors of the US administration still claim that climate change is a hoax, the  Latin America and the Caribbean region is benefiting from what others see as a new industrial revolution and business opportunity.

A World Bank report says the region leads the way in attracting investments to fight climate change and  has become an attractive market for investment in sustainable urban transport and infrastructure and is expected to reach more than $1trillion in investments by 2030.

The report identifies seven sectors with enormous potential to attract private investment for renewable energy, storage of energy and solar energy outside the grid, agribusiness, green construction, urban transport, water supply and urban waste management.

According to the report, Creating Markets for Climate Businesses the transport and climate-smart infrastructure sectors are expected to generate more than $1 trillion in investments for 2030 in the region.

It indicates that in order to develop the potential and catalyze private investments, a combination of political reforms and innovative business models must be promoted. This would help Latin America and the developing countries to achieve the climate goals set in the historic Paris Agreement, signed by 33  countries in the region.

Five of the largest countries in the region -Brazil, Chile, Colombia, Mexico and Peru- lead sustainable development in sectors such as renewable energy, urban ecological infrastructure and energy efficiency, as well as smart cities. Costa Rica aims to be the first carbon-neutral nation by 2021 and to have 100% renewable energy production by 2030.

The investment potential is enormous: In Mexico, for example, it is indicated that investment potential from now to 2030 is $791 million, mainly in renewable energy and sustainable urban infrastructure. In Argentina the potential is $338 million and in Colombia s $195 million. In Brazil, the investment potential is even greater at $ 1.3 billion.

"The private sector is the key to fighting climate change," said IFC Executive Director Philippe Le Houérou. "The private sector has the innovation, financing and necessary tools. It is in our hands to help unlock more private sector investments, but this also requires government reforms and innovative business models, which together will create new markets and attract the necessary investment. In this way, the commitment to smart cities and renewable energy set in Paris can be fulfilled.”

With 80% of its population living in cities, Latin America and the Caribbean is the most urbanized region in the world. The way in which your cities grow will be fundamental to reach the climate change mitigation objectives.

In the construction sector, green buildings are forecast to contribute $80 billion in investment opportunities until 2025. Countries such as Colombia, Costa Rica, Mexico and Peru recently adopted green building codes. As a result, it is expected that new buildings in these countries will consume between 10 and 45% less water and energy.

Rapid Transit
 Latin America became a leader in the development of rapid transit bus systems (BRT). including the BRT system in Curitiba, Brazil Buenos Aires, Argentina.

Buenos Aires, which accounts for almost half of Argentina's GDP has begun an ambitious $400 million transportation plan of dollars to boost urban connectivity, to reduce congestion and pollution by slashing usage  of automobiles.

Panama is testing an electric bus system and building a third subway system.

 

 



Comments 11

user
mhogan

Supplied. But I don't think you have the attention spam to watch something that contradicts your thinking for 1:15 full documentary with LEGIT REFERENCES.

Last year
user
mhogan

"VERY expensive" -- I don't think so when it is referenced by a paper published by the EPA. That's real reliable info. No doubt everything we do contributes somehow to pollution: from flushing the toilet to fertilizing our gardens. I just can't get excited about the over-inflated dangers of using something as naturally formed from plant and animal material. They can be cleaned up and have been (eg clean, natural gas, et al) but it still goes against the grain of the Global Warming group of extremists. Global Warming is a business, just like oil and gas companies but somehow they've been able to turn it into a religion as well. https://www.youtube.com/watch?v=3DpxP7R4aLw&feature=em-subs_digest-vrecs

Last year
user
rbc11

Unfortunately this is not a forum where the likes of R Charron and his gang will supply any legit references. They would rather spout "Fake News" from Fox News and friends. SO SAD .....

Last year
user
Jonoyakker

Fossil fuels are VERY expensive when you add in the negative health effects: https://www.forbes.com/sites/justingerdes/2013/04/08/how-much-do-health-impacts-from-fossil-fuel-electricity-cost-the-u-s-economy/#130f44f3c679

Last year
user
Banjaxed

Could you point me towards the NASA report you refer to. I've searched for it but Google seems to be keeping it well hidden. Everything I'm finding from NASA seems to be saying the exact opposite to what you are claiming.

Last year
user
Richard Charron

Much of what you say is true but I think the reason that much of Latin America is getting sucked into this, is that psychologically it makes them feel like they are more on a par with the rest of the world, with regards to technology. This is only my opinion but it appears that there is almost the pride of overcoming the third world status by participating in "the latest and the greatest". All you have to do is look at the pollution and trash on which they can't seem to get a handle, as they worry about "green" energy, and you can't help but wonder about the reasoning. They have so many other areas they could be spending this money with a greater return.

Last year
user
mhogan

Like Socialism, the initial boom in the well-being of the citizens will be short-lived until they have to pay for all this "green" energy. They will have jobs where they had none before as they construct the new mode and turn aside the tried and proven fossil fuel. But soon, they will get a shock when the taxes start escalating and their electricity bills skyrocket. (What did Obama say way back when he encouraged sustainable energy: "Electricity will necesarily skyrocket"). When the green energy projects start, everyone is ecstatic because all kinds of foreign money from the international agencies starts pouring in. Reality will hit them in about 1 year. Also, have you considered why Latin America is now topping climate change investment: my theory is that the U.S. is no longer buying into this crap and the people who got rich (eg Al Gore) from the industry already are starting to feel that they need a new income source to maintain their lifestyle. Let's sucker in Latin America (they are not as bright in the science department as American's who've been there, done that, got the t-shirt). I'm not saying it is so that Latin countries are less bright, but they are an untapped, vulnerable region that can be exploited by the Enviro-nazies.

Last year
user
RedNekTex

You can always tell when the enviro-mafia writers don't believe their own BS. No author, no sources, no citations.

Last year
user
Richard Charron

Very well said and right on the money. I will be living and traveling in Colombia for the next six months and will be able to report first hand on the steps being taken here for energy conservation and the green energy push. I have already seen signs of complete small villages being built around energy efficiency when I was here last year. It will be interesting to go back this year and see how they are developing.

Last year
user
mhogan

Be careful what you wish for. Sustainable energy does not come cheap. It’s also not without downsides such as wind turbines are shortlived, cause health problems in humans, disastrous for birds and bats, and offshore devices disrupt migratory patterns of fish (that, in itself should trigger medical impact awareness). They also do not produce an effective form of affordable, efficient energy output despite heavy taxpayer subsidy. Solar still remains too expensive for wide use, environmental damage in producing and disposal is a problem, is fragile in high winds and common weather events and requires high cost of maintenance for effective operation. Hydro electric causes much environmental damage and with low water levels, depends on fossil fuel to supplement its usefulness. Fossil fuel remains the most effective in cost and performance and has no more negative effects on the environment than most sustainable forms of energy especially as more and more scientists reverse their claims of CO2 misrepresentation. But, in all fairness, green energy is making some people very rich ... at the expense of the general public and taxpayers. Hello Al Gore and the myriad of individuals and corporations receiving hugh government and institutional grants and subsidies so that you and I can pay more for electricity. Sounds like a one-sided “win” to me.

Last year
user
Many Darwin awards

Well thats sounds all warm and fuzzy but when NASA just reported that the world is getting cooler who are you going to believe ? The likes of Al Gore flying around in his orivate jet telling you to drive some battery operated car or NASA the folks that lied to you about going to the moon ? Because mabn would have xome out the back side of the Van Alan radation belt kooking like burnt toast

Last year
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