Sebastián Nieto, in charge of Latin America at the OECD, was assured during COP27 in Egypt, with a card to be a major player at the world level on the Latin American climate agenda and to act as Europe’s “key ally”.
There are several factors in favor of the region: it concentrates half of the world’s biodiversity, generates 33% of its energy from renewable sources – compared to the world average of 13% – and has high mineral reserves necessary for ecological transition. lithium (61%), copper (39%) and nickel (32%).
In addition, greenhouse gas emissions are lower per capita than regions with similar levels of development.
“What role can Latin America play on the international agenda? What, in my view, it can weigh in in multilateral negotiations like COP27, reassured AFP Nieto, Head of Latin America and the European Union in Sharm el-Sheikh. Caribbean OECD Development Center.
He highlighted that successful development of the green agenda by 2030 could create 10.5% more official net jobs in sectors such as water management, food and sustainable tourism, as listed in the Organization of Cooperation’s latest annual report on Latin America and Economic Development. , published this week.
A particularly necessary target in a region where 45% of families work in the informal economy and 33.7% of the population will be in poverty by the end of 2022 – seven points more than in 2020.
The potential of green hydrogen
According to Sebastián Nieto, a 47-year-old Colombian economist who studied in France, countries like Chile or Argentina “have the potential to continue to promote larger renewable energy sources in the region,” especially green hydrogen.
Chilean Economy Minister Nicolás Grau paid a visit to Europe in September to attract investors interested in green hydrogen from renewable sources.
The latest European regulations stipulate various sectors such as food, construction, textiles or raw materials (soy, beef, palm oil, wood, coconut and coffee) whose production must be free from deforestation, according to the Commission’s proposal. currently in the negotiation phase.
For Nieto, he demands an opportunity for both sides.
“Latin America is a key ally for Europe on the green agenda,” he said.
But this better linkage involves rethinking the model of cooperation that should involve much more the private sector on both sides of the ocean. “It is necessary for governments to change this traditional aid paradigm,” Nieto said.
Another urgency for the region is to “continue spending more on research and development, which is very low in Latin America”, averaging 0.7% of GDP compared to about 2% in a group of developed countries, the OECD. . It includes Costa Rica, Colombia, Chile and Mexico.
Time is short because if United Nations forecasts are met, a global warming of about 2.5 °C compared to the pre-industrial era would cost Latin America 1.5 to 5% of its GDP by 2050.
Sebastián Nieto explained that the population most affected in this scenario would be those living in remote and coastal areas, particularly in the Caribbean, and the vulnerable population in cities.
“There’s an asymmetric effect and it will increase inequalities,” he said.
source: Noticias
