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    WB urged to decarbonize energy


    September 19, 2022 - CE Noticias Financieras

     

      Energy decarbonization and low-carbon urban design are the urgent priority areas identified by the World Bank to support climate resilience, mitigation and transition actions in Mexico.

      In its report Roadmap for Climate Action in Latin America and the Caribbean 2021-25, presented on Wednesday, it indicates that Mexico and Brazil account for more than half of the regional greenhouse gas (GHG) emissions generated by the energy sector.

      "The need for action is urgent to avoid dependence on carbon-intensive systems," it stresses.

      On the other hand, he warns, countries that continue down the path of short-term expansion of investments in fossil fuel technologies face the growing risk that future climate change mitigation actions will create stranded assets.

      Thus, some oil and gas reserves currently planned for extraction, he notes, could become uneconomic in Argentina, Brazil, Ecuador, Colombia, Mexico and Peru.

      Demand-side management strategies, energy efficiency measures and improved watershed management practices, the report says, play an important role in strengthening the resilience of energy systems.

      To this, it notes, must be added improved transmission and distribution infrastructure, diversification of electricity generation, storage and smart grid solutions.

      The World Bank states that low-carbon urban design and decarbonization of urban mobility are indispensable in

      Argentina, Bolivia, Brazil, Colombia, Ecuador, Haiti, Mexico and Peru, some of the most densely populated urban countries in the region.

      "Despite being one of the most urbanized regions in the world, Latin America and the Caribbean has only 10 kilometers of mass transit system per million inhabitants, while the regional average in Europe is 35," he details.

      "Facilitating safe non-motorized mobility has a very significant emissions reduction potential, especially when combined with policies that discourage the use of motorized vehicles."

      The report highlights that the WB already supports a wide range of programs and projects in Latin America and the Caribbean for climate change resilience, GHG emissions reduction and the transition to low-carbon development.

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