(ECPA), held on March 14-15, 2024 in Punta Cana, Dominican Republic, the Economic Commission for Latin America and the Caribbean (ECLAC), ECPA and the Latin American Energy Organization (OLADE) have joined forces to promote public policies aimed at accelerating fair, inclusive and sustainable energy transitions in the region.
Despite the high proportion of renewable electricity generation in the region, the energy matrix is still mostly fossil fuels, especially in the transport and industrial sectors, underscoring the need for a renewed energy transition. The importance of developing value chains associated with renewable energies to transform production processes and the development model in the countries of the region is also emphasized.
To accelerate these strategies, four main areas of public policy are proposed: strengthening governance and public-private cooperation, increasing investment in infrastructure and technology, coordinating energy and productive development policies, and improving long-term energy planning.
OLADE’s Executive Secretary, Andrés Rebolledo, highlighted the second phase of energy transitions, which is characterized by the effort to decarbonize not only the electricity matrixes but the economies as a whole, during the plenary session dedicated to “Energy transition, integration and adaptation in the Americas”.
During the event, several countries adhered to the CertHilac protocol for the certification of clean hydrogen in Latin America and the Caribbean, which guarantees the traceability of hydrogen, providing accurate data on its origin, production methods, including environmental and social sustainability criteria.
Also, 16 countries in the region committed to reach a 70% share of renewable energies in their energy matrix by 2030, adhering to the Renewables in Latin America and the Caribbean (RELAC) initiative, which has shown remarkable leadership in the adoption of renewable energies.
Another outcome of this Sixth Ministerial Summit is the call for action by OLADE and ECLAC, supported by the Ministry of Energy and Mines of the Dominican Republic, to accelerate fair, inclusive and sustainable energy transitions in the region.
Communications and Institutional
Relations Department
josefa.corral@olade.org