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Southern Cone leads LatAm sustainability energy ranking

Bnamericas Published: Tuesday, October 13, 2020
Southern Cone leads LatAm sustainability energy ranking

Southern Cone nations were the top Latin America performers in the World Energy Council's (WEC) 2020 Trilemma Index.

Uruguay, Brazil and Argentina ranked 18, 28 and 30, respectively, in the index which looks at energy security, energy equity, and environmental sustainability of energy systems in 108 countries.

At the bottom of the list from the region were Jamaica, Honduras and Nicaragua at 73, 75 and 82, respectively. Overall, Switzerland ranked number 1 and Niger 108.

“The Latin America and Caribbean region has continued to face uncertainties such as extreme weather events, poor diversification of energy sources, inequality of wealth distribution, inadequate and inefficient methods of tax collection, as well as weak utilisation of interconnections and grid infrastructure,” according to the report.

The analysis highlights the impact of COVID-19 on the region, the dependence of oil exports in some countries, and the need to invest in storage technologies.

Nevertheless, the report points to efforts to incorporate renewable power, with strong growth in Panama and Colombia, and the growth of distributed generation.

Another area of importance for WEC is the need for governments and companies to incorporate the social agenda into decision making.

“In Colombia, for example, the debates on fracking that are taking place demonstrate how the country's energy security is facing social acceptability. Some countries in the region are facing similar challenges, especially for big hydro power plants and electricity transmission grids that need an [sic] specific approach to obtain social and environmental licences.”

Also Read Colombia forges ahead with fracking plans, Peru conflicts edge up on upstream impasse and Peru to update power sector public engagement framework

For a look at how stakeholders in the region are addressing environmental, social, and governance (ESG) practices, click on the following links:

LatAm companies urged to focus on social aspects of ESG practices

LatAm gaining ground in ESG stakes as Andean institutional investors raise bar

Brazilian law firm Mattos Filho creates ESG area

Companies to increase engagement with NGOs amid growing ESG demand

Where is ESG heading in Latin America?

WEC’s 2020 Trilemma Index is available here.

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