EU Commissioner for Energy and Housing, Dan Jørgensen, and the Executive Secretary of the Latin American Energy Organisation (OLADE), Andrés Rebolledo, have today signed a Memorandum of Understanding to strengthen cooperation between the 2 blocs on energy matters. It also confirms the EU permanent observer status in OLADE. Taken together, the 27 countries of Latin America and the 27 EU countries represent more than 1 billion people – equivalent to 14% of the world’s population, 21% of global GDP and one-third of UN membership.
The memorandum focuses on a range of energy related activities, amongst others: to encourage the pro-active participation of European stakeholders in OLADE events and meetings of its governance bodies; to exchange know-how and best practices in designing proposals for joint programmes, projects and other cooperation activities; and to provide advisory assistance for the implementation of joint actions in the field of energy.
Dan Jørgensen, Commissioner for Energy and Housing, said:
‘The EU and Latin America and the Caribbean are building on an already strong partnership to enhance our political dialogue and trade while promoting green and digital transitions. This important memorandum we are signing today will help integrate regional energy efforts and strengthen collaboration between Europe and Latin America and the Caribbean – also crucially at the expert level. As both regions aim to progress in the clean energy transition, this agreement will significantly boost our global cooperation. It supports our shared goals to triple renewable energy and double energy efficiency by 2030 while transitioning away from fossil fuels, ensuring sustainable energy security and quality, and tackling energy poverty so that no one is left behind.’
Both the EU and OLADE will work together in implementing the outcomes of the UN Climate Change Conference COP28, such as the Global Pledge to triple renewable energy and double energy efficiency by 2030 as well as further transitioning away from fossil fuels. This will be done in cooperation with other international organisations such as the International Renewable Energy Agency (IRENA), the International Energy Agency (IEA), the United Nations Development Programme (UNPD), and the Economic Commission for Latin America and the Caribbean (CEPAL) to combat climate change and promote a net-zero transition of the economies of both regions.
Both parties also intend to advance on methane emissions reduction and mitigation in sectors like agriculture, fossil fuels and transport at regional level in Latin America. This will include working with the Latin American and Caribbean Methane Emission Observatory (OEMLAC) and the International Methane Emissions Observatory (IMEO).
Background
The EU-CELAC summit of July 2023 in Brussels revitalised the partnership between Latin American and Caribbean countries and the EU, including the signature of 2 EU Memorandums of Understanding on energy – one with Argentina and one with Uruguay. It also confirmed a detailed investment agenda on energy investment under the EU’s Global Gateway. The next EU-CELAC summit is scheduled for 9-10 November 2025 in Santa Marta, Colombia.
