Ministerial Declaration of the LI Meeting of Ministers of the Latin American Energy Organization

This Olade release was published using machine translation.

The Energy Ministers representing the Member Countries of the Latin American Energy Organization (Olade), who met in virtual mode on November 24, 2021 at the LI Meeting of Ministers, signed 14 important milestones that make up the Ministerial Declaration; Guidance document for regional energy policy and Olade's role in this area.

In accordance with the objectives postulated in the Lima Agreement, the Organization's constitutive instrument, Olade promotes regional commitment, through the Ministerial Declaration that contains the following postulates:

FIRST: RATIFY the commitment to accelerate the energy transitions of the countries of Latin America and the Caribbean towards cleaner and lower-carbon energy systems.

SECOND: RECOGNIZE the achievements and commitments of some countries in the region to achieve the goals for carbon neutrality.

THIRD : ASSUME that each country will have its own path towards the decarbonization of its energy systems in the times determined by its own national strategies and restrictions, and taking into account the international commitments that each country has individually honored; attending to the national circumstances of each State in terms of availability of resources, technologies and conditions of access to capital and financing.

FOURTH: CONSOLIDATE the strengths of the regional energy sector to make it one of the engines of sustainable post-covid economic recovery.

FIFTH: PROMOTE innovation at the regional level as a catalyst for energy transitions in our countries and mechanisms to create value in national economies with the corresponding promotion of employment; as well as a fundamental axis of the efforts undertaken in the development and deployment of technologies aimed at increasing energy efficiency, digitizing energy systems, increasing the participation of renewable energies, increasing the availability of bioenergy use. sustainability, sustainable mobility, improvements in the productivity of hydroelectricity and facilitation of the implementation of carbon capture and sequestration technologies.

SIXTH: FACILITATE the development of national strategies aimed at the use of hydrogen as an energy vector, valuing that the Latin American and Caribbean region has enormous potential for the production of hydrogen with the capacity to contribute to global decarbonization processes.

SEVENTH: SUPPORT the development of strategies and actions aimed at strengthening the resilience of the energy sector and reducing its vulnerability to phenomena related to Climate Change, including the corresponding identification of the necessary resources to fulfill these objectives.

EIGHTH: INCREASE efforts to allow access to efficient financing mechanisms for the incorporation of clean technologies, with special consideration in improving the conditions of countries with unstable macroeconomic frameworks and relatively less developed in order to reduce access gaps to financing in our region.

NINTH: DEEPENING our demand to the international community to intensify and materialize the actions aimed at developing financing and recognition instruments in the conditions of access and payment of existing debt that take into account the efforts in climate matters carried out by our countries with a focus in the decarbonization of the energy sector.

TENTH : FACILITATE the development of distributed energy, the digitization of energy systems, and strengthen the incorporation of technologies for sustainable transport and efficient buildings.

ELEVENTH : RECOGNIZE that, in some countries of our region, natural gas is a transition fuel that reduces the intensity of emissions from the energy sector and is an important source and a viable, affordable and reliable option to accelerate the decarbonization process of some economies, always subject to their development in a sustainable way.

TWELFTH: HIGHLIGHT the important role of international cooperation and support the increase of cooperative actions in our countries, exchanging experiences on successful policies related to decarbonization, mitigation of emissions and the development of long-term low-carbon strategies.

THIRTEENTH: CONTINUE working on strengthening regional and subregional energy integration initiatives, considering that integration today represents not only a form of cooperation and support between our countries, but also the possibility of achieving greater efficiency in the allocation of energy resources. the energy systems of our region.

FOURTEENTH: SUPPORT OLADE's political institutional framework and technical capacity as an ideal intergovernmental mechanism to coordinate and promote initiatives and projects in the area of reducing emissions related to the energy sector, resilience to the adverse effects of climate change on energy systems and energy transitions.

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