- Land-use change, forestry and agriculture account for a significant share of regional emissions, owing to the importance of the primary sector and the low technification of these activities in the region. Some 58% of GHG emissions in Latin America and the Caribbean come from land-use change (38%) and agriculture, forestry, and other land use (20%). Emissions from the energy sector account for 25% of the region's total, including the share of the transport sector (11%), electricity generation and use, and others (1).
- Higher-income population groups emit a greater proportion of GHGs in the region. However, lower-income populations are the most vulnerable and suffer most from the consequences, as they do not have the means to adapt to the new climate conditions.
- The Latin American and Caribbean region will need to significantly increase the pace at which it has been decarbonizing its economies and move from a historical decarbonization rate of -0.9% per year on average (recorded between 2010 and 2019) to more than four times that rate (average of -3.9% per year) to reach the emission reduction targets set in the nationally determined contributions. In fact, in order to move towards the target of limiting global average temperature increase to no more than 1.5oC, the region's decarbonization rate needs to be eight times faster than the historical rate (2).
- More than half of fossil fuel subsidies in the region target oil and about 20% go to natural gas and electricity end-use. While fossil fuel subsidies have trended downward over the last decade, in 2021, US$ 75.6 billion was allocated to fossil fuel subsidies in the region, a figure that fell to US$ 56.6 billion in 2022, amid poor economic performance. Only five countries in the region have introduced a national carbon tax, although progress is being made in the design of carbon market mechanisms.
- The region is particularly vulnerable to extreme weather events, especially in the Caribbean, where they can cause major setbacks. For example, Dominica sustained damage and losses amounting to 226% of its GDP when it was devastated by Hurricane Maria in 2017. While some achievements have been made in reducing the impact of disasters, country reports show that countries are not on track to meet the targets of the Sendai Framework for Disaster Risk Reduction 2015–2030.