A transition plan fosters transparency and accountability, establishing a blueprint for how an organisation will achieve its climate goals and ambitions. In addition to clearly communicating it, organisations should embed their transition plans within their operations, management, and strategy, tailoring them to the specific realities and challenges of the Latin American region.

We see countless examples where investment managers need to get a deal approved by an investment committee in less than one week. Climate due diligence is essential, but it shouldn’t be a blocker. It’s important non-sustainability experts have the tools and confidence to check climate credentials and prevent unnecessary delays that may result in financial institutions passing on qualified sustainability investments.

CBAM requires South Africa’s iron, steel and aluminium sectors to innovate and respond to what is, essentially, the world’s first marketplace for low carbon metals. By decarbonising their value chains, South Africa can gain a competitive advantage, drive sustainable economic development and ultimately support the country’s just transition.

These proposed changes recognise the economic realities of Latin American and Caribbean businesses, especially SMEs with different structural and financial capacities. As global supply chains begin to favour suppliers with validated science-based targets in place, this proposed classification shows greater fairness and will help businesses across the region meet the growing requirements of international clients.

Increased spending and investment in grid infrastructure is key for tapping into the potential for renewable energy generation and achieve energy security in Latin American and the Caribbean. Private capital can help unlock these upgrades. Nonetheless, most transmission and distribution companies in our region are state-owned. Technical assistance programmes from multilateral development banks and development finance institutions can help public utilities improve technical and governance readiness to attract private investment, for example by issuing GSS+ bonds.