In Latin America, however, there is an exception to this hydrocarbon frenzy that ignores the consequences for the climate. Chile has created one of the world's most ambitious renewable energy plans, hoping to capitalize on the benefits of abundant winds in southern Patagonia and intense northern sunshine in the Atacama Desert to generate green electricity at low prices. Investors have taken note: more than 40% of foreign direct investment in Chile last year went into renewable energy, and the country ranks among the world's top attractors according to Bloomberg's Climatescope report. Chile's vision is not limited to green energy. The government hopes to establish the Pacific nation as one of the world's leading exporters of green hydrogen, an emission-free fuel that has caught the fancy of some experts thanks to its environmental credentials.
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