Benchmarking Latin America energy markets

Latin America is entering a decisive phase in its energy transition journey, with countries facing shared climate goals but navigating highly distinct paths. This insight piece will focus on six key economies: Brazil, Mexico, Argentina, Chile, Colombia, and Peru. While they share regional and structural traits such as similar levels of urbanisation, resource wealth, rising income levels and growing energy demand, their transition strategies and outlooks diverge significantly. This insight examines the macroeconomic context, energy mix, and some of the relevant policy decisions defining each country’s trajectory. From coal phase-outs and clean energy policies to emerging technologies like energy storage and carbon capture, the report provides a comparative look at how Latin America's major economies are progressing – at different speeds - towards a lower-carbon and a more resilient energy future.