Sunday , May 16 2021
Home / Project Syndicate / Biden’s Climate Opportunity in Latin America

Biden’s Climate Opportunity in Latin America

Summary:
As Latin America inches toward a post-pandemic recovery, it is vital that the region’s governments align their rebuilding strategies with their commitments under the 2015 Paris climate agreement. The United States could help make that happen. WASHINGTON, DC – Relations between the United States and much of Latin America are recovering after hitting rock bottom under former US President Donald Trump. But while President Joe Biden’s administration is focusing on the Central American migration crisis, it must not miss the opportunity to drive urgently needed climate action to help the region rebuild after the pandemic. Build Back the State Getty/Bettman 

Topics:
Guy Edwards considers the following as important:

This could be interesting, too:

Tyler Cowen writes Lies vs. silence?

Global Economic Intersection Analysis Blog Feed writes A Brief History Of The Buy-to-Build Indicator

Tyler Cowen writes Saturday assorted links

Greg Mankiw writes Testing the Mill Hypothesis

As Latin America inches toward a post-pandemic recovery, it is vital that the region’s governments align their rebuilding strategies with their commitments under the 2015 Paris climate agreement. The United States could help make that happen.

WASHINGTON, DC – Relations between the United States and much of Latin America are recovering after hitting rock bottom under former US President Donald Trump. But while President Joe Biden’s administration is focusing on the Central American migration crisis, it must not miss the opportunity to drive urgently needed climate action to help the region rebuild after the pandemic.

Given the scale of Latin America’s economic collapse in 2020 – its 7.4% GDP contraction was the worst of any region – most of its national leaders did not dwell much on climate change. Argentina, Mexico, and Peru have yet to direct a single dollar of recovery spending toward reducing greenhouse-gas (GHG) emissions and air pollution, according to the Oxford University Economic Recovery Project. Instead, vast sums have gone to the region’s fossil-fuel industries.

Today, as Latin America inches toward recovery, it is vital that the region’s governments align their rebuilding strategies with their commitments under the 2015 Paris climate agreement. The US could help make that happen.

To limit global warming this century to below 1.5 degrees Celsius relative to pre-industrial levels, Latin American countries, along with the rest of the world, must halve GHG emissions by 2030 and achieve net-zero emissions by 2050. While this is a tall order, we have most of the necessary technology. The region’s ample renewable energy sources, together with electrification of transport, could largely replace reliance on fossil fuels, which accounted for most of Latin America’s GHG emissions in 2018. Such a transition would reduce air pollution and attract the investment needed to help reverse a surge in joblessness and poverty over the past year.

Latin America’s renewables sector is already growing rapidly, and accelerating the green transition would drive economic recovery. Economists say that by 2030, the region could...

Leave a Reply

Your email address will not be published. Required fields are marked *