Reflections on the Green Economy and Powershoring

How to Lead the Sustainability Agenda? For a long time, high economic growth has been the objective of economic policy in Latin America and the Caribbean (LAC). However, the region's per capita GDP grew modestly by 0.9% per year on average from 1980 to 2021, with a standard deviation of 2.6%. In other words, we have experienced the undesirable combination of low growth with high volatility, which limits the possibilities for improving quality of life. To break away from this supposed fate, it will be necessary, among other things, to promote economic activities in which the region has a comparative and competitive advantage and that generate many high-quality jobs. One of these bets is the sustainability agenda, but from a perspective that goes beyond adaptation and mitigation. After all, LAC can dare due to its unparalleled natural and biological wealth. However, all this wealth has been underutilized as a platform for promoting development. How to move forward? Among the most promising paths are scientific and technological development, innovations and new business models associated with sustainability, and so-called sustainable finance.