Title: Is Natural Gas a Good Investment for Latin America and the Caribbean? From Economic to Employment and Climate Impacts of the Power Sector
This report reveals that an expansion of renewable energy in the power sector in Latin America and the Caribbean instead of continuing a fossil fuel path, including natural gas, would be by far the best choice. The region would perceive further benefits in terms of costs, jobs, and greenhouse gas emission reductions, and therefore to meet the goals of the Paris Agreement on Climate Change.
The UN report also found that the renewable energy scenario would result in a reduction of 80 per cent in greenhouse gas emissions (GHG) by 2050 compared to those in the BAU scenario, and 75 per cent lower than the natural gas scenario. The natural gas scenario only results in a modest 20 per cent reduction in GHG emissions compared to BAU.
The report took a deep dive into several LAC countries, aiming to show that these regional results could be emulated by those at the national level. The data for Argentina, Panama and Grenada show that although each country has a different energy matrix, all are expanding natural gas use and its corresponding infrastructure. In all three cases, the results could be greatly enhanced by opting for renewable energy.
