This Policy Paper analyses the key features of the European Green Deal (EGD), its external impacts and future avenues to enhance EU-LAC cooperation in the net zero transition.

Based on expert analyses, closed-door Track II discussions with stakeholders in the EU and LAC, a public side event co-organised by the Elcano Royal Institute and the Grantham research Institute (London School of Economics) in the Spanish Pavilion at COP27 and semi- structured elite interviews, this Policy Paper reflects on three issues. First, the heretofore limited discussion of the external dimension of the European Green Deal in selected countries in the LAC region. Secondly, some of the expected impacts of the EGD. Third, the potential for future EU-LAC collaboration. The analysis indicates that the vulnerability of LAC to climate change makes a just low carbon transition urgent, with energy and land use, land use change and forestry (LULUCF) at its heart. This is expected to require green fiscal reforms, innovative financial and regulatory tools and the strengthening of governance mechanisms, among others. This paper argues that EU-LAC cooperation could help deliver some of the elements of the net-zero transition across both regions.

A. Averchenkova, L. Lázaro Touza, G. Escribano, C. Prolo, S. Guzmán Luna & L.E. Gonzále
Real Instituto Elcano, 2023.

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