For the second year in a row, the UN climate summit is being hosted by a large oil and gas producing nation — the United Arab Emirates. COP28 also marks the ninth year since the summit was hosted by a Latin American nation, after Chile’s turn was interrupted by a nation-wide outbreak of protests in 2019.

Accounting for 8% of the world population and 7% of global GDP, Latin America, often an ambitious player in international climate negotiations, will arrive under new leaderships – faced with climate extremes and increasing debt.
While some countries in the region are expected to lead calls to raise ambitions and protect the world’s forests, the region will also be significantly affected by decisions made in Dubai. These are some of the key issues for Latin America at COP28:
Fossil Fuels
Latin America is one of the regions taking the lead in blocking new fossil fuel infrastructure. Brazil and Colombia, for example, have both blocked large projects on environmental grounds, while Ecuador approved a referendum to ban oil drilling in the Amazon.
However, this has not been an easy task for any of these countries. In Colombia, for example, the oil and gas industry has been vocal on its pushback against the banning of new licenses, while coal workers have been hit by mine closures without economic alternatives. Meanwhile, shrinking oil reserves have added pressure to Petro’s government, after calls to renew exploration licenses.
Lula’s government in Brazil was faced with a political split after the country’s environmental agency blocked an oil drilling project in the Amazon basin. The country’s state oil company has appealed this decision, testing political loyalties in Lula’s camp.
Still, at international negotiations, Latin American governments have been at the forefront of calls to end new fossil fuel projects. Chile and Colombia, for example, were among the supporters of last year’s ambitious initiative to phase out all fossil fuels at COP27. A year earlier, at COP26, Costa Rica launched a coalition of countries committing to leave their fossil fuels on the ground called the Beyond Oil and Gas Alliance.
Money for adaptation
The Latin American region possesses extensive ancestral indigenous knowledge in dealing with climate risks. But will enough money reach communities in Latin America? A critical issue emerges as world leaders convene at COP28 to address the widening adaptation finance gap, estimated between US$194 billion and US$366 billion annually. This gap, outlined in a UNEP Report, emphasises the urgent need for financial resources, with adaptation needs surpassing current international public adaptation finance flows 10–18 times.
The IPCC underscores residual climate risks, those persisting after ambitious adaptation efforts. In Latin America, these risks linger in the shadows of inaction, as the bulk of adaptation finance is directed towards the more vulnerable, the least developed countries (LDC) and small island developing states (SIDs), leaving Latin America overlooked in terms of visibility, projects, and adaptation resources. This situation incentivises migration as an adaptation mechanism, exacerbating an already precarious social reality with climate-related challenges.
Despite these challenges, Costa Rica serves as a beacon of success in securing adaptation resources. Among five Latin American countries, it received the maximum of $10 million from the United Nations Adaptation Fund in 2016. This financial support benefited 36 local initiatives across the country, focusing on critical sectors such as water, coastal areas, and agriculture. Costa Rica’s example highlights the potential for effective resource utilization in enhancing climate resilience at the local level.
Extreme damages
Latin America faces some of the world’s severest climate risks, a central focus during COP27 discussions on Loss and Damage. This discourse has extended into COP28 as efforts continue to establish a methodology for an operational Loss and Damage fund.
A crucial question arises: will the recently established Loss and Damage fund allocate resources to vulnerable communities in Latin America? The situation is unclear as the policy appears directed exclusively towards Least Developed Countries, with Haiti being the only qualifying country in the Americas. Despite certain Latin American nations grappling with climate-related losses, the focus seems limited.
Ongoing Loss and Damage negotiations revive debates on climate funds, including the acceptability of disbursing them as loans, adding strain to national finances. Latin American countries advocate for initiatives like debt-for-climate or nature pledges, seeking alternative approaches to address the region’s climate challenges.
A front for the Amazon
Three out of the five countries with most deforestation in the world are in Latin America. However, a new political wave is shaping a coalition for the Amazon. In Brazil, deforestation rates are declining post a government change. The success of COP28 will be marked by financial support and political cooperation, possibly reflecting this renewed ambition.
The current state of the Amazon is at a critical juncture, facing ecosystem fragmentation due to decades-long degradation, land-use changes, and deforestation. Communities are grappling with challenges, seeking solutions to sustain their way of life, preserve cultures, and address significant environmental damage contributing to climate change.
In August 2023, the Amazon Summit convened in Brazil, bringing together leaders, indigenous representatives, local communities, civil society, private sector, finance, and scientists to address ecosystem challenges. The Belém Declaration expressed a shared vision among regional countries to maintain forest connectivity and urgently find solutions for national development without overlooking nature. However, this declaration falls short of the 80 percent conservation goal for the Amazon by 2025, set as a critical threshold.
At COP28, Latin America, as a unified bloc, can utilize biodiversity, forests, and nature to align conservation and biodiversity agendas with climate change discussions. The goal is to secure funds for adaptation and mitigation efforts, bridging the gap between environmental protection and sustainable development.
Political Changes
Climate action is increasingly polarizing national political debates in many Latin American countries. While some political leaders push for a greener agenda against deforestation and fossil fuel exploration and exploitation, some others oppose to what they consider an internationalist agenda that may harm national interests in the short term.
After leadership changes in Brazil, Colombia and Chile in 2022, more Latin American countries now assume an ambitious role at Cop28, but that policy window may close soon: other key countries such as Costa Rica and – more recently, Argentina, has elected new governments with little interest in supporting climate action. Argentina’s elected president Jaiver Milei has denied the seriousness of climate change and the scientific consensus around the anthropogenic origin of the crisis.
Conclusion
Latin America has the potential to play a protagonist role in COP28 and push for a successful deal that can improve low carbon development and strengthen resilience to worsening climate impacts in Latam. Nevertheless, a but deal at COP28 in all the key issues above can result in more vulnerable communities and more volatile region. The task will not be easy, as global interests will come at play.