This year, Latin America’s business leaders stepped forward to make their voices heard in the COP process. The Ibero-American Business Network for Green Growth (IABN) united companies and non-governmental stakeholders to call for the policy conditions needed to accelerate an inclusive, nature-positive energy transition in the region. In a pivotal year for climate action, the Network demonstrated how cross-border business collaboration can help drive implementation and ambition.
Launched at COP29, the Ibero-American Business Network for Green Growth (IABN) - a group of business and non-governmental stakeholders advancing a sustainable economy in Latin America - came together ahead of COP30 to urge governments to enable an inclusive, nature-positive energy transition in support of tripling renewables by 2030.
From expanding its membership and elevating its international profile, to fostering dialogue and delivering a strategic, cohesive message at COP30, the Network created tangible value in a critical year for climate action in Latin America. With the final COP30 ‘Global Mutirão’ package falling short on urgency and pace, the IABN also highlighted a form of cross-border business collaboration that can drive deeper climate action in the years ahead.
Background: Climate leadership in a challenging multilateral system
As the first COP hosted in the Amazon, COP30 offered Latin America a prime opportunity to showcase its leadership, spotlight the region’s unique climate transition challenges and opportunities, and advance key strategic priorities.
Ahead of COP30, there were a number of priorities and outcomes that the IABN hoped to see, including:
- Scaling up the clean energy transition: a particular priority for Latin America, given the abundant renewable energy resources and large reserves of critical minerals in the region.
- Taking forward previous commitments to triple renewable energy by 2030 and transition away from fossil fuels: the latter vital goal was controversial, with repeated efforts by fossil-fuel producing countries to block progress on commitments made at COP28.
- Bridging the ambition gap between updated climate plans (NDCs) submitted ahead of COP and a global pathway consistent with keeping warming under 1.5°C: This was a priority for the Brazilian Presidency which had demonstrated leadership via submission of their own strengthened NDC.
The COP30 Presidency, led by veteran climate diplomat André Aranha Corrêa do Lago, also introduced new approaches to preparing and conducting international climate negotiations. It emphasised inclusivity through the Mutirão process, including by elevating Indigenous voices at COP30, which hosted the largest Indigenous delegation in the summit’s history. Implementation was another focus area, with a drive to consolidate existing initiatives and scaling solutions under the Action Agenda led by the Climate High-Level Champions.
The IABN: Business leadership for climate action in Latin America
Against that backdrop, IABN members joined forces in a campaign with a dual objective: highlight the leadership from businesses committed to driving the transition in Latin America, and take their united voice to policymakers, nationally and internationally, to call for the conditions enabling them to power the implementation of the solutions they know exist.
With their Business Statement launched ahead of COP30, the IABN:
- Expressed support for transitioning from fossil fuels to a renewables-based, electrified system and for tripling renewable energy capacity by 2030
- Called for the Brazilian Presidency to elevate these topics at COP30 and advance discussion on a fossil fuel phaseout timeline and the protection of biodiverse areas
- Called for prioritised investment in grid infrastructure, storage and distribution along with stronger cross-border cooperation to support flexibility, energy security and access
- Stressed the need for governments to partner with business, communities and investors to deliver a just, nature-positive renewable energy transition.
“Coalitions of Leaders” for accelerated global climate action
The IABN took these messages to COP30 in Belém and helped build momentum for a roadmap to phase out fossil fuels by signing a business statement with 150+ business and non-state actors, aligning with a coalition of over 80 supportive countries. The roadmap ultimately didn’t appear in the final ‘lowest common denominator’ text, but Colombia showed leadership by supporting the COP30 Presidency’s intent to advance a fossil fuel transition roadmap beyond the COP process, co-hosting a dedicated summit with the Netherlands in April 2026.
The IABN also backed the Action Agenda, which advanced the 2030 renewables-tripling target by consolidating efforts to expand and strengthen power grids. Governments and international organisations announced major commitments on electricity grids and energy storage, including a pipeline of USD 1 trillion from the Utilities for Net Zero Alliance (UNEZA).
The IABN welcomes this progress:
Gonzalo Sáenz de Miera, Director, Climate Change and Alliances, Iberdrola, said: “At COP30 in Brazil, electrification has taken center stage as the most effective pathway to accelerate the energy transition. Creating the right policy conditions to prioritize electrification, grids, and storage is essential to unlock energy security, foster job creation, enhance livelihoods, and strengthen global competitiveness.”
A critical part of the negotiated outcomes, the creation of an institutional ‘just transition mechanism’ is a major step to enable equitable energy transitions. Efforts to combat deforestation with a dedicated roadmap to be taken forward by the COP30 Presidency outside of the COP process and an innovative global facility spearheaded by Brazil to pay for the conservation of the world’s major rainforests can also be applauded.
The COP30 debate on a fossil fuel phaseout roadmap revealed that ‘coalitions of the willing’ can keep progress moving despite the absence of consensus. Robust ‘coalitions of leaders’ in the private sector are needed now more than ever to keep showing the way as the political process lags. As such, the IABN will continue uniting Latin America’s business voice in support of a green economy.
Find out more about the Ibero-American Business Network for Green Growth here.