Zambia’s Copperbelt province is a microcosm of foreign investment on the continent.

Fly into Lusaka and marvel at the capital’s strikingly modern airport. Drive into town along a road as smooth as any American highway. Look left and notice a large white hospital complex. Glance right only a few minutes later to see the city’s impressive conference center with a “Golden Chopsticks” restaurant next door.

Este ensayo se actualizó con una traducción al español, disponible después de la versión en inglés, a continuación.

Latin American and Caribbean (LAC) countries have committed to transitioning to a net zero economy by 2050. Will they be able to do so without leaving anyone behind? It is unlikely, if business models don’t change.

An annual investment of $700 billion will be needed to curb emissions from the energy sector and its end uses, as well as from agriculture, forestry and other land use. In the clean energy sector alone, investment must increase nearly fivefold from its 2022 level.

The UN Environment Programme has described Africa as the most vulnerable region in the world to climate change. Despite only being responsible for 3% of global emissions, the continent has been battered by extreme weather events, including droughts, cyclones, wildfires, and sandstorms. One in three people across Africa faces water scarcity. The continent’s agricultural sector, which represents a significant share of African countries’ GDP and employment, is highly exposed to climate change.

The much-needed transition to a zero carbon, green economy offers opportunities to contribute to peace, but only if the conflict risks of transition are understood and managed to produce a just and peaceful transition. That means minimizing “backdraft”—the unintended negative impacts of transition that are a key obstacle to that goal.

Earlier this year, the IPPC published yet another report underscoring the fact that rapid climate action is needed to limit global warming and avoid further irreversible, devasting environmental impacts. Over the next decade, the report calls for urgent, unprecedented social and economic transitions to reduce emissions and enable climate resilient development for vulnerable people.

A key pillar of the UNFCCC was a commitment by industrialized nations to cover the incremental cost of climate change mitigation for developing countries. As part of this pledge, they agreed to mobilize $100 billion a year in climate finance by 2020 and maintain that level of funding up to 2025. While there are questions on whether this target has been met, climate finance has undeniably become one of the largest channels of wealth redistribution from developed to developing countries.

In an increasingly unpredictable world of pandemics, conflict, and disasters, climate change is often at the center of conversations about the instability of global affairs. From California wildfires to droughts across East Africa, the role of climate cannot be ignored in any analysis of global unpredictability. And citizens around the world know it. Growing global public support for governments to aggressively act on climate change has led to an increase in policy action on climate issues.