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Chile to host virtual Clean Energy Ministerial (CEM) summit

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Chile to host virtual Clean Energy Ministerial (CEM) summit

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Photo: Jamey Stillings/Bloomberg

Chile will host the 12th annual Clean Energy Ministerial summit and 6th Mission Innovation forum starting today and running through June 6.

The Clean Energy Ministerial (CEM) is a forum committed to accelerating a global clean energy transition. This year’s event will address climate change challenges in the wake of the COVID-19 pandemic and the prospects for recovery.

Latin America is home to many significant markets for renewable energy investments. The pandemic has shifted global focus towards sustainable means of development and growth. However, stimulus packages in the region have largely focused on strengthening fragile healthcare systems.

Expect the summit to draw the interest of international investors. Latin American development faces a difficult road as heavily indebted countries are exposed to instability and COVID-induced challenges. Transitioning to sustainable energy would alleviate some such burdens. Nevertheless, in order to accelerate the energy transition process in Latin American, aid-providing entities will need to designate stimulus funds for the sustainable energy industry specifically. The presence of international stakeholders indicates a certain level of commitment to that goal. However, given varying degrees of economic, environmental and political insecurity, the challenge will be supporting the transition in both regional powerhouses and in more vulnerable communities and markets.

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