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The vision of the green economy SP/Di No 01-12 in Latin America and the Caribbean 39 It should be noted that Colombia and Argentina are also among the largest 15 world producers of ethanol. Biodiesel Brazil, Argentina and Colombia occupy positions numbers 2, 3 and 13 in the world production of biodiesel; that is, 12.1%, 11.1% and 1.6% of the total world output, respectively. CHART 9: Percentage share in the world market for biodiesel The highest annual percentage increases since 2009 were recorded in Brazil (46%, up to 2.3 billion litres in 2010) and Argentina (57%, up to 2.1 billion litres, three fourths of which were exported). IV. POLICIES APPLIED TO PROMOTE AND ENCOURAGE THE GENERATION OF RENEWABLE ENERGY IN LATIN AMERICA AND THE CARIBBEAN As stated in the first section of this paper, moving from a coal-based economy toward a green economy will not be overnight. Such a process requires substantial investments; a change in production and consumption patterns and also the State direct involvement, where public policies play a key role. In this section, a focus will be placed on suggested public policies to further the passage to a green economy. In addition, an outlook will be given of the necessary investments in the region to materialize a green economy. This paper identifies three policies that have been used in furtherance of renewable energy sources around the world and that LAC countries could adopt for their ultimate conversion into a green economy. Firstly, the regulatory policy is based on instruments such as guaranteed prices or allocation of market shares through quotas or government mandates. Reference is madePDF Image | green economy In Latin America and the Caribbean
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