Revealing business climate action in Latin America
About the report
Thanks to funding from the Scotiabank Net Zero FundLibélula and its climate action platform nexos+1 have developed Latin American Business Climate Action Report.
This initiative provides a better understanding of the degree of maturity, challenges and opportunities in corporate climate action and corporate climate commitments in 9 countries in the region.
The information derived from the investigation is presented in two publications:
- The main "Report"which presents the progress in climate action of the Latin American private sector and the challenges and opportunities faced by companies in the region.
- The best practices "Study", which details 9 leadership case studies from across the region of companies that are advancing in their climate action.
Please provide your information to download both publications. *The publications are in Spanish.
Findings on Latin American business climate maturity
Business climate action is the combination of coordinated actions that a company deploys as part of its business strategy to reduce its greenhouse gas (GHG) emissions and increase resilience and its capacity to adapt to climate-related impacts.
The Report compiles information from 109 companies from 9 Latin American countries, gathered through a proprietary Libélula tool which assesses climate maturity. This tool measured their maturity across 6 dimensions based on the four Race to Zero associated criteria (Pledge, Plan, Proceed and Publish), as well as the additional dimensions of Purpose and Governance.
Purpose and strategy:
The business strategy incorporates its commitment to managing its triple-bottom-line impact on the planet.
Pledge:
Explicit commitment of carbon neutrality by 2050, aligned with science.
Plan:
Plan with goals, processes and tools for reaching carbon neutrality in the short-, medium- and long-term.
Proceed:
Consistent implementation that delivers progressive results against the strategy towards net zero.
Publish:
Public reporting of business climate action through official reporting platforms.
Governance:
The institutional conditions are present to enable business climate action.
Key findings at the regional and individual country levels (click on the flags to access individual country findings). The results are representative of the evaluated sample, it's not a statistical sample.
Latin America
Latin American companies are in an early to intermediate level of climate maturity.
Most notably, these companies in general are contributing to the UN Sustainable Development Goals (SDG), progressing in measuring their carbon footprint and have the governance structure needed to implement climate action.
However, the majority have not identified the risks and opportunities that climate change represents. There is opportunity to improve the establishment of commitments, to advance in executing a climate action plan and to report on their actions and progress.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Argentina
Chile
Colombia
Guatemala
Ecuador
Honduras
Peru
Dominican Republic
Uruguay
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Argentina
The Argentinian companies are the most advanced in reporting their actions and measuring their carbon footprint. They also surpass the regional average in the other dimensions measured.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Chile
The Chilean companies lead the region in the pledge dimension. They are also advancing in measuring their emissions and reporting their progress. There is opportunity to improve the development of the internal structure necessary (processes and clearly defined roles) for climate action implementation.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Colombia
The Colombian companies surpass the regional average in all dimensions, but most notably in their advances in reporting and governance, where they have clearly defined roles and leaders.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Guatemala
The Guatemalan companies are aligned with the regional average, slightly exceeding it in footprint measurement and the development of climate action plans.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Ecuador
The Ecuadorian companies surpass the regional average in aligning their business with the SDGs and making climate action commitments. There is an opportunity to improve their measurement and reporting progress.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Honduras
The Honduran companies slightly exceed the Latin American average in SDG contribution. However, there is improvement opportunity in their commitments, their reduction and offsetting of emissions, reporting their progress and their internal governance structure.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Peru
The Peruvian companies are below the regional average in the six dimensions. The dimension in which there is greater progress is in planning, which reflects that the majority studied are measuring their emissions.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Dominican Republic
The Dominican companies generally surpass the Latin American average across all dimensions. Most notable are their advances in reducing and offsetting their emissions.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
Uruguay
The Uruguayan companies have the internal structure necessary to drive climate action. However, they are below the Latin American average in terms of planning, proceeding and publishing their progress.
CLIMATIC MATURITY STATUS
0-25% Immature level
Recently recognizing the relevance of climate change in the organization.
25-50% Early maturity level
Building the foundations for climate action.
50-75% Intermediate maturity level
Advancing and improving their climate action.
75-100% Advanced maturity level
Strategic, effective and transparent climate action.
nexos+1 is the Latin American business climate action platform
We catalyze the transition to a low-carbon economy through our community, our corporate membership and our action spaces.
Benefits of participating in the report
Receive a climate maturity diagnosis for your company
Learn and get to know the experiences of other companies in your country and the region.
Networking with companies linked to climate action
Visibility of your company in the Report
Events
Between the months of May and September we will be developing workshops in the following areas 10 Latin American countries in which we will know the state of maturity of companies and all that they can do in the way of increasing climate ambition.
Learn about the events we have for you
We know the state of maturity of Latin American companies and what they can do to increase climate ambition. Some companies have already taken on their own decarbonization and emissions reduction targets, while others want to know what these drivers are to begin this transition to a low-carbon economy by 2030.
