Excerpt from Modern Diplomacy
Renewable energy is a central part of national climate pledges under the Paris Agreement. Nationally Determined Contributions (NDCs) set out the steps that countries intend to take to keep the rise in global average temperature to well below 2°C. However, current national plans, as far as they set renewable power targets, lack ambition compared to already-apparent market trends. This is especially true in Latin America and the Caribbean (LAC) where the 2030 renewable energy target would be achieved by 2021 if the recent pace of clean energy growth continues.
The COVID-19 pandemic has affected countries worldwide, slowing economic activities and hindering country-level NDC review processes. However, as countries turn towards renewables for economic recovery, raising ambition and placing energy transition at the heart of short-term recovery will be crucial in next round of NDCs. LAC countries are showing a strong commitment to increase ambition as an essential component of successful economic recovery.
“It is encouraging to see that countries in Latin America and the Caribbean are positioning the energy sector at the core of the post-COVID recovery of the region,” said IRENA Director-General Francesco La Camera, offering his welcoming remarks at the webinar on ‘Advancing the Energy Transition in Latin America and the Caribbean through Nationally Determined Contributions (NDCs).
