From Resource Richto Resource SmartThis book, along with any associated content or subsequent updates,can be accessed athttps://hdl.handle.net/10986/43246. From Resource Richto Resource SmartOpportunities for Latin America andthe Caribbean in the Energy TransitionGuillermo Beylis and Nancy Lozano Gracia,Editors © 2025 International Bank for Reconstruction and Development / The World Bank1818 H Street NW, Washington, DC 20433Telephone: 202-473-1000; Internet:www.worldbank.orgSome rights reserved1 2 3 428 27 26 25This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, andconclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of ExecutiveDirectors, or the governments they represent.The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work anddoes not assume responsibility for any errors, omissions, or discrepancies in the information, or liability with respectto the use of or failure to use the information, methods, processes, or conclusions set forth. The boundaries, colors,denominations, links/footnotes, and other information shown in this work do not imply any judgment on the partof The World Bank concerning the legal status of any territory or the endorsement or acceptance of suchboundaries. The citation of works authored by others does not mean The World Bank endorses the views expressedby those authors or the content of their works.Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privilegesand immunities of The World Bank, all of which are specifically reserved.Rights and PermissionsThis work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)http://creativecommons.org/licenses/by/3.0/igo. Under the Creative Commons Attribution license, you are free tocopy, distribute, transmit, and adapt this work, including for commercial purposes, under the following conditions:Attribution—Please cite the work as follows: Beylis, Guillermo, and Nancy Lozano Gracia, eds. 2025.From ResourceRich to Resource Smart: Opportunities for Latin America and the Caribbean in the Energy Transition. Washington,DC: World Bank. doi: 10.1596/978-1-4648-2242-1. License: Creative Commons Attribution CC BY 3.0 IGOTranslations—If you create a translation of this work, please add the following disclaimer along with theattribution:This translation was not created by The World Bank and should not be considered an official World Banktranslation. The World Bank shall not be liable for any content or error in this translation.Adaptations—If you create an adaptation of this work, please add the following disclaimer along with theattribution:This is an adaptation of an original work by The World Bank. Views and opinions expressed in theadaptation are the sole responsibility of the author or authors of the adaptation and are not endorsed by The WorldBank.Third-party content—The World Bank does not necessarily own each component of the content contained withinthe work. The World Bank therefore does not warrant that the use of any third-party-owned individualcomponent or part contained in the work will not infringe on the rights of those third parties. The risk of claimsresulting from such infringement rests solely with you. If you wish to re-use a component of the work, it is yourresponsibility to determine whether permission is needed for that re-use and to obtain permission from thecopyright owner. Examples of components can include, but are not limited to, tables, figures, or images.All queries on rights and licenses should be addressed to World Bank Publications, The World Bank, 1818 H StreetNW, Washington, DC 20433, USA; e-mail:pubrights@worldbank.org.ISBN (paper): 978-1-4648-2242-1ISBN (electronic): 978-1-4648-2243-8DOI: 10.1596/978-1-4648-2242-1Cover illustration: © Adobe Stock. Adapted from art generated by FocusFusion. Used with permission.Further permission required for reuse.Cover design:Sergio Moreno Tellez, World Bank.The Library of Congress Control Number is 2025940218. ContentsForewordAcknowledgmentsAbout the Editors and ContributorsExecutive SummaryAbbreviationsIntroductionWindow of OpportunityNotesReferencesPART I: THE WINDOW OF OPPORTUNITY1Greening Winds Are Reshaping EconomiesNotesReferences2Seizing the Window of Opportunity: ThreeIllustrative ExamplesIntroductionLand and Forests—Leveraging Natural Capital for Greener MarketsMinerals to Support the Energy Transition: UpgradingExisting Production ProcessesLeveraging Green Energy to Support New Markets: Green HydrogenNotesReferencesPART II:THE WAY FORWARD: INSTITUTIONS,INVESTMENT, AND INNOVATIONThe Three I’s3InstitutionsThe Foundations for Economic TransformationEstablish New Rules for a New Economy ixxixiiixvxxix11671119192121223854768088919192 Coordinate to Accelerate the Transformation98Increase Sustainability through Meaningful Enforceme