By David Callaway, Callaway Climate Insights
(About the author: Michael Molinski is an economist, content strategist and author. He has worked for Fidelity, Charles Schwab and Wells Fargo, and previously as a foreign correspondent and editor for Bloomberg News and MarketWatch. He is the author of Investing in Latin America: Best Stocks, Best Funds (Bloomberg Press, 1999), and Small Business in Paradise (Nolo, 2007). Currently, he is a senior economist at Trendline Economics.)
PLAYA DEL REY (Callaway Climate Insights) — The failure to reach an agreement on carbon reduction at the COP26 summit was clearly a disappointment. But more importantly to Latin America was the lack of commitments by the developed world to increase funding for environmental projects or to establish green funds which Latin America and other poorer regions need desperately to fight the ravages of climate change.
The presidents of Colombia, Ecuador, Bolivia, Argentina, Costa Rica and Honduras all attended COP26. Those who publicly said they would not attend are the two presidents from the most powerful and populous countries, Brazil and Mexico.
Some successes on climate change from Latin America
There were some new commitments from Latin America, most notably from Colombia, which said it will increase its pledge to the UN . . . .
To read this column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.