Zero Carbon - Latin America and the Caribbean

ZERO CARBON LAC: THE OPPORTUNITY, COST AND BENEFITS OF THE COUPLED DECARBONIZATION OF THE POWER AND TRANSPORT SECTORS IN LATIN AMERICA AND THE CARIBBEAN.2 THE OPPORTUNITY, COST AND BENEFITS OF THE COUPLED DECARBONIZATION OF THE POWER AND TRANSPORT SECTORS IN LATIN AMERICA AND THE CARIBBEAN.DECEMBER 2019 ZERO CARBON LAC: THE OPPORTUNITY, COST AND BENEFITS OF THE COUPLED DECARBONIZATION OF THE POWER AND TRANSPORT SECTORS IN LATIN AMERICA AND THE CARIBBEAN.33Published by the United Nations Environment Programme (UN Environment Programme), May 2020. Attribution- NonComercial- NoDerivativesCC BY-NC-ND This publication may be reproduced in whole or in part and in any form for educational or non-profit purposes without special permission from the copyright holder, when provided acknowledgement of the source is made. UN Environment Programme would appreciate receiving a copy of any publication that uses this publication as a source. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the United Nations Environment Programme. Applications for such permission, with a statement of the purpose and extent of the reproduction, should be addressed to the Director, División de Comunicación, Programa de la ONU para el Medio Ambiente, Oficina para América Latina y el Caribe, Edificio 103, Calle Alberto Tejada, Ciudad del Saber, Clayton, Panamá.Disclaimer The mention of a company or commercial product in this document does not imply endorsement by UN Environment Programme or the authors. The information in this document may not be used for advertising or marketing purposes. Trademark names and symbols are used editorially without intent to infringe trademark or copyright laws. The relationship between the United Nations Environment Programme and Iberdrola S.A. is limited to co-funding the report. The collection of information, the writing of the report and its publication are carried out independently and do not in any way reflect the views of the funders, including the European Union, AECID or Iberdrola. The United Nations Environment Programme is not responsible for any actions or verbal positions taken by them before, during or after this partnership. The views expressed in this publication are those of the authors and do not necessarily reflect the views of the United Nations Environment Programme. We regret any errors or omissions that may have been inadvertently made. © Photographs and illustrations as specified This document may be cited as: Zero Carbon: The opportunity, cost and benefits of the coupled decarbonization of the power and transport sectors in Latin America and the Caribbean. UN Environment Programme, Office for Latin America and the Caribbean, Panama. ZERO CARBON LAC: THE OPPORTUNITY, COST AND BENEFITS OF THE COUPLED DECARBONIZATION OF THE POWER AND TRANSPORT SECTORS IN LATIN AMERICA AND THE CARIBBEAN.4ACKNOWLEDGEMENTSLead authors· Walter VergaraSenior fellow with WRI, under a sabbatical assignment with UNEP for the purposes of report analysis and preparation.· Jorgen FenhannSenior scientist at the Technical University of Denmark. He is a member of the UNEP DTU partnership. He is the creator and manager of GACMO.· Silvia R. Santos da SilvaResearcher with the Global Change Center at the University of Maryland.UN Environment Programme ́s Latin America and the Caribbean Office Coordinating review committee.Climate Change Unit: Led by: Gustavo Mañez, Climate Change Coordinator, Latin America and Caribbean Office.Contributing authors: Mercedes García Farina, Elizabeth Font. Reviewers: Esteban Bermudez, Sebastián Carranza, William Holness, Rosilena Lindo, Agustín Matteri, Juan Luis Pardo and Jonnatan Rico.Delegated Chief Scientist: Francesco Gaetani, Environment under review subprogram regional coordinator, UNEP. Regional Gender Focal Point: Piedad Martin, Deputy Regional Director.External reviewers Monica Araya, Co-founder of Costa Rica Limpia. John Christensen, Director of UNEP DTU Partnership. Gianni Lopez, Director at Mario Molina Center of Chile. Marta Martínez, Head of Studies at the Energy Policies and Climate Change Division, Iberdrola. Horst Pilger, Head of the Climate Change and Environment Section at the European Commission’s Directorate-General for International Cooperation and Development (DG DEVCO). Miguel Ángel Rubio, CEO of Acciona Energía Mexico. Carlos Salle, Director of Energy Policy and Climate Change at Iberdrola. Thorsten Schulz, Investment Manager at Aravis Ventures. Ignacio Santelices Ruiz, Director Ejecutivo Agencia de Sostenibilidad Energética de Chile. External contributors UNEP/DTU partnership team in Copenhagen, led