This Extractivism Policy Brief 02/2024 shows:
- Climate change obstructs Latin America’s development, affecting the economy, society, and the environment. A substantial investment is needed for the 2050-2070 deep decarbonization process.
- Latin America’s unsustainable development in the last five decades has boosted consumption, employment, and poverty reduction but falls short in addressing chronic poverty and high-income concentration. This undermines economic dynamics and exposes society to climate change impacts.
- A just climate transition requires changes in consumption patterns, investment in sustainable infrastructure, and the establishment of a universal, high-quality social protection system.
- Achieving a carbon-neutral economy demands a new global economic paradigm, not just sector-specific mitigation processes. Developing a forward-looking global economic vision for the 21st century is imperative.
Author: Luis Miguel Galindo
(Universidad Nacional Autónoma de México)