LatAm's 5 large economies commit to reduce emissions
A landmark deal to curb greenhouse gas (GHG) emissions and mitigate the effects of climate change was reached Saturday at the COP21 climate summit in Paris.
A total of 195 nations signed onto the deal, including some of the largest economies in Latin America.
BNamericas looks at five of these countries' Intended Nationally Determined Contributions (INDCs), which outline their goals for reducing emissions over the coming decades.
All five said that they can potentially achieve more ambitious goals, provided they receive additional financing and support from fully developed countries.
BRAZIL
Brazil plans to reduce GHG emissions by 37% from 2005 levels by 2025.
"Additional actions would demand large-scale increase of international support and investment flows, as well as technology development, deployment, diffusion and transfer," Brazil says in its INDC.
In the energy sector, Brazil plans to increase the share of biofuels in the national fuel mix to approximately 18% and the share of renewables in the power mix to 45% by 2030. During the same span, Brazil plans to increase the share of non-hydropower renewables in the power mix to between 28% and 33%.
MEXICO
Mexico plans to unconditionally reduce its GHG emissions by 25% compared to a business as usual (BAU) scenario by 2025, "implying a net emissions peak starting from 2026, decoupling GHG emissions from economic growth."
The 25% goal could be expanded to 40%, the country's INDC said, "subject to a global agreement addressing important topics including international carbon price, carbon border adjustments, technical cooperation, access to low-cost financial resources and technology transfer, all at a scale commensurate to the challenge of global climate change."
Mexico's 2014 energy reforms include renewable energy targets and a clean energy certificate trading scheme. The government has also mandated a shift away from oil-based power generation to cleaner-burning natural gas.
ARGENTINA
Argentina proposed an unconditional 15% reduction in GHG emissions by 2030, compared to a BAU scenario. Argentina plans to cut emissions from the energy sector through measures related to energy efficiency, biofuels, and nuclear energy.
Argentina said it could exceed the 15% goal if it receives adequate and predictable international financing, technology transfer and training support from richer nations.
PERU
Peru plans to reduce emissions by 30% by 2030, compared to a BAU scenario. Of this total, 20% will be implemented through domestic investment and expenses, while the remaining 10% is subject to the availability of international financing, the country's INDC says.
Peru has been "implementing different initiatives that are enabling the transformation of the national energy consumption and generation matrixes through switching fuels to natural gas, and promoting renewable energy sources which have given [rise] to the connection of wind farms, solar and biomass power plants to the national power grid, among other examples."
COLOMBIA
The energy sector accounted for 55% of Colombia's GHG emissions in 2010, according to the country's INDC. Colombia plans to reduce its GHG emissions by 20% by 2030, in comparison with a BAU scenario.
Subject to international support, Colombia could increase this commitment to 30%, the document says. Colombia will consider implementing market-based instruments to curb emissions that result in "real, permanent, additional, verifiable" mitigation.
Hydropower supplied 68% of Colombia's electricity in 2010, the INDC says, adding that per capita energy consumption that year was 31MBTU, compared to a 57MBTU global average.
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