Rampant material extraction is pushing the ecosystems of Latin America and the Caribbean (LAC) to their limits. Over 11% of global raw materials are extracted within the region, yet it represents only about 8% of the world’s population.
Raw material extraction and export are essential for local economies. But the nature and scale of extractive activities destabilise the region’s welfare in the long run, eroding the natural systems that local communities have relied on for centuries. Moreover, despite being extremely resource-rich, LAC suffers some of the worst wealth inequality in the world.
The Circularity Gap Report (CGR) Latin America and the Caribbean demonstrates how the region can leverage the circular economy to tackle systemic inefficiencies in satisfying societal needs, conserve its unique natural wealth and improve its people’s well-being.