Lisa Viscidi, director of the Energy, Climate Change and Extractive Industries Program, sat down with Natural Gas World to discuss her recent report, Latin American State Oil Companies: Decarbonization Strategies and Role in the Energy Transition.
Latin American State Oil Companies and Climate Change: Decarbonization Strategies and Role in the Energy Transition
Latin American national oil companies (NOCs) have made important advances in slashing emissions from their operations through techniques such as reducing flaring, improving energy efficiency, and injecting CO2 for enhanced oil recovery, according to a new report by the Inter-American Dialogue and the Inter-American Development Bank. Yet, progress in producing lower carbon energy sources for consumers has been sluggish, no Latin American NOC has committed to net zero emissions, and for some companies emissions are on the rise, the report finds.
Electric mobility would bring a host of benefits to Latin America. Countries like Chile are taking the lead in adopting electric buses and promoting private use of electric vehicles. Yet hefty price tags and a lack of charging infrastructure are among the barriers that must be surmounted for widespread uptake in the region.
At the Fourth Annual Latin America Clean Transport Forum on September 27, government officials, private sector leaders, and international researchers gathered in Buenos Aires to discuss the challenges and opportunities for electric vehicles and what global and regional lessons can be used to foster their growth in Argentina.
If the region increases renewables to 80% of the electricity matrix and expands integration, countries can save billions of dollars in investments, avoid blackouts and reduce their greenhouse gas emissions, argue Lisa Viscidi and Ariel Yépez.
Addressing Latin America’s transportation challenges requires an integrated approach that includes stemming the growth in demand for private vehicles through the improvement of public transportation systems and non-motorized forms of transport; raising the levels of fuel efficiency and fuel quality; and diversifying fuel sources.
With the fastest growing car fleet in the world, Latin America has reason to accelerate the transition to electric vehicles. Costa Rica, with its strong commitment to tackling climate change, is positioning itself to vastly expand EV use in the next five years.