Juan Carlos Sánchez is a distinguished industrial engineer and Ph.D. in Environmental Sciences from the National Institute of Applied Sciences in Toulouse, France. With over 35 years of experience, he has served as a technical advisor to Venezuela’s Ministry of Energy and Mines and the Ministry of Foreign Affairs. He has played an active role in the negotiations of the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol. Furthermore, he participated as an observer in the Paris Agreement negotiations and served as technical coordinator for Venezuela’s “First National Communication on Climate Change.”
His contribution to the Intergovernmental Panel on Climate Change (IPCC) earned him the 2007 Nobel Peace Prize, shared with Al Gore.
1. What must be done to achieve sustainable development in Venezuela?
The development of a country is a complex process leading to overall progress in key areas that enhance the quality of life for its citizens. These areas include an economy with sustained increases in national income, stable employment and improved labor conditions; quality education with equitable access and programs tailored to national needs; health and well-being ensured through accessible medical services, adequate nutrition, and high life expectancy; as well as the availability of basic infrastructure and access to technology, including water, energy, telecommunications, internet, and more.
Development requires strong and well-trained institutions in matters of justice, democracy, human rights, and anti-corruption. The contemporary notion of development adds the adjective “sustainable,” understood as progress balanced with respect for environmental conditions. Venezuela has clearly regressed in nearly every dimension defining development, both in its traditional conception and in the modern framework of sustainability.
Sustainable development is measured through compliance with the United Nations’ Sustainable Development Goals (SDGs), which are broken down into 169 specific targets. An assessment conducted in 2023 by the Sinergia network—comprising 68 civil society organizations—determined that Venezuela has made no progress on 68% of these targets. For the remaining 32%, progress has been limited or insufficient data exists to make a proper evaluation. Only a major, coordinated national effort—uniting public and private sectors—could allow Venezuela to advance across these dimensions and return to a path of development aligned with the SDGs.
2. How do you assess the environmental quality in Venezuela?
The environmental quality in Venezuela is in a concerning state due to the persistent deterioration of its environmental matrix: water, air, and soil.
There is severe water pollution resulting from the accumulation of waste, oil spills, and the discharge of untreated sewage. In the south of the country, particularly in the Guayana region, unregulated mining has led to serious contamination of water bodies, especially through mercury discharges, affecting Indigenous communities and national parks.
Simultaneously, there is a water supply crisis across many parts of the country. According to a 2022 report by the NGO PROVEA, 73% of the population lacks continuous access to potable water. Most water treatment plants are non-operational and lack essential inputs such as chlorine gas and aluminum sulfate, which are critical for water purification. Some water sources are also bacteriologically contaminated. A prominent example is Lake Valencia, where inaction and lack of maintenance have transformed an environmental issue into a serious public health crisis. The lake’s water level has risen due to raw sewage discharges, flooding agricultural and urban areas, with sanitation systems now submerged. A temporary containment wall built in 2005 with a projected lifespan of only three years remains in use 16 years later, with communities living below the lake’s level, exposed to overflowing sewage.
In major urban centers, air pollution is primarily attributed to emissions from an aging and obsolete vehicle fleet. In cities like Cumaná, these emissions, combined with the burning of waste, have visibly degraded urban air quality. Despite these issues, official data on air quality and its consequences is scarce.
The mismanagement of urban solid waste is another persistent problem, degrading landscapes and polluting water bodies.
Deforestation is a major environmental issue as well, driven by agricultural expansion and the exploitation of basic commodities. This is compounded by unregulated mining, urban sprawl, and intensive charcoal extraction. According to Global Forest Watch, Venezuela lost 2.5 million hectares of forest cover between 2001 and 2024, with 153,000 hectares of natural forest lost in 2024 alone. This loss affects soil quality, degrades water sources, and undermines both climate and hydrological regulation, as well as biodiversity. Venezuela has been losing forest cover at an alarming rate compared to other Amazonian countries, ranking fifth in deforestation rates in the Amazon region between 2016 and 2021.
Additionally, Venezuela faces many environmental liabilities resulting from decades of public and private industrial activities conducted without appropriate environmental safeguards.
It is essential to understand that preserving environmental quality is not an end in itself; as mentioned, its degradation represents a constant threat to human health, biodiversity, and ecosystems.
3. Has the country suffered major environmental damage due to the inoperability of the oil industry, related sectors, the promotion of the so-called Orinoco Mining Arc, and the poor management of landfills? How would you evaluate environmental governance in this regard?
Indeed, the lack of maintenance, infrastructure deterioration at PDVSA, and the abandonment of oil wells without following technical protocols over the past two decades have caused significant oil spills. The most affected areas include Lake Maracaibo, Morrocoy National Park, the Gulf of Coro, and the coasts of Falcón and Carabobo. No official data is available on the full scale of these spills; however, satellite imagery has been used to estimate the volume of oil released, though imprecisely. Some of the largest oil slicks have extended 15 to 40 km. The Academy of Natural Sciences estimated that between 2020 and 2021, oil spills totaled approximately 200,000 barrels. These incidents continue to occur.
The environmental consequences of oil spills include water contamination, damage to coastal and seabed ecosystems, devastation of fisheries and marine fauna, and degradation of vital ecosystems such as mangroves. The petroleum-impregnated shores of Lake Maracaibo constitute a major environmental liability that must be assessed and remediated. This problem persists amid official opacity and a lack of public information. Such an information blackout hinders effective action and accountability, conceals the true extent of environmental and socio-economic damage, and limits the capacity of communities and organizations to respond. The absence of transparency and official inaction reflects a deep failure in environmental governance.
Unregulated, especially illegal, gold mining is another major driver of environmental degradation and has led to increased violence in mining areas. This deterioration intensified with the establishment of the Orinoco Mining Arc Strategic National Development Zone (AMO) in 2016, which allocated 11 million hectares for mining across Bolívar, Amazonas, and Delta Amacuro states. According to various NGOs and Amazonian research groups, this mining has contaminated rivers with mercury and other toxic substances. Despite being legally prohibited, the use of mercury in gold extraction remains largely unchecked, posing serious risks to local communities—particularly Indigenous groups who depend on these waterways. Reports indicate that illegal mining has increased deforestation, altered water flows, and caused sedimentation in water bodies.
NGOs have denounced the absence of official data on mercury use and have urged the state to act. However, according to Clima21, state action is either non-existent or counterproductive, as it has legitimized and expanded extractive activity in high-biodiversity zones. This official posture undermines any genuine effort toward environmental management.
The accumulation of urban solid waste is another critical and visible environmental issue in the country. The Integral Waste Management Law, in effect since 2010, aims to reduce waste and prevent environmental and health hazards by banning open-air dumps and establishing a five-year deadline for their closure. However, the law remains largely unenforced. Serious problems persist from the initial stage of waste management: collection, which is estimated to cover only 70–80% of waste generated. The Political Ecology Observatory estimates that 80% of collected waste is disposed of in open-air dumps, leading to contamination and health risks. Official statistical data from the National Institute of Statistics is severely outdated (last reported in 2013), complicating proper planning.
Waste burning in communities is a direct result of recurring failures in waste collection and contributes to serious environmental and health issues such as respiratory diseases and allergies (e.g., in Cumaná). The recycling rate is low—just 5–7%.
This situation contrasts starkly with the potential for generating raw materials and employment through a well-developed recycling industry. The lack of clear policies, reliable data, and established targets to promote recycling contributes to these poor figures. While informal recyclers play a role in material recovery, their work is not formally recognized, and they often operate under unsafe conditions.
Moreover, there is a widespread lack of public concern and awareness about waste segregation, reduction, and reuse. High consumption of non-biodegradable disposable products further exacerbates the issue.
For all these reasons, environmental governance in Venezuela faces serious criticism. One of the most acute deficiencies is the lack of official information and transparency. Independent organizations have denounced a “growing opacity, secrecy, and censorship” regarding environmental problems, making monitoring and accountability difficult. The absence of official data, particularly on critical issues such as oil spills, prevents accurate assessments and the formulation of effective prevention and control measures.
Another major issue is the weak enforcement of environmental laws. Despite a legal framework that aligns with the country’s needs, widespread impunity and lack of accountability for environmental crimes persist, compounded by institutional inefficiency. This combination of opacity and legal laxity has led to a significant erosion of environmental rule of law.
Environmental management is further constrained by financial shortages and limited technical capacity. Additionally, a systematic disregard for environmental issues, especially within state-run enterprises, results in low compliance with environmental regulations.
4. Have biodiversity and ecosystems across various regions of the country also been affected by the same pollution and degradation? How could this have been prevented, and what urgent actions should be taken to protect ecosystems?
The causes of biodiversity loss in Venezuela include the destruction, degradation, and fragmentation of ecosystems due to deforestation and industrial pollution, the use of agrochemicals—particularly certain types of pesticides—accumulated urban waste, and unplanned urban expansion. Additional threats come from the introduction of invasive exotic species, the unsustainable use of biological diversity (such as the selective extraction of high-commercial-value species), and the introduction of genetically modified organisms (GMOs).
At the root of these problems are insufficient knowledge and public awareness regarding the importance of biodiversity, a legal framework that—while progressing—still lacks fully developed or updated instruments, and the persistence of bureaucratic inertia and institutional inefficiency.
Despite these threats, Venezuela has implemented a National Strategy for the Conservation of Biological Diversity (ENCDB 2010–2020) and a National Action Plan. Some progress has been made in managing information through the Venezuelan Biodiversity Information System (SVIDB), launched in 2011. Conservation projects for endangered species such as marine and freshwater turtles and caimans have also been carried out, resulting in the release of thousands of hatchlings.
The most widely used approach for biodiversity protection globally is the designation of natural protected areas. Paradoxically, although nearly 50% of Venezuelan territory has been designated as protected natural areas, there is still severe and ongoing biodiversity loss and ecosystem degradation. This paradox suggests that legal protection has not translated into effective protection on the ground.
National Parks such as Caura, Canaima, and Yapacana are particularly affected by mining activities. Canaima National Park, a UNESCO World Heritage Site, has been the subject of reports warning of its deteriorating conservation status. Although some argue that its boundaries do not overlap with the Orinoco Mining Arc, mining remains a serious threat both within and around the park. According to a report by the NGO SOS Orinoco, Yapacana National Park—probably one of the most biodiverse in the country—is in critical condition, lacking basic infrastructure for monitoring and enforcement, and without permanently assigned personnel. The report documents the destruction of micro-watersheds, the presence of international gold smuggling networks, and makeshift clandestine airstrips allegedly used for the illegal gold trade.
Furthermore, according to the Venezuelan Political Ecology Observatory, a worrying trend of “regulatory flexibilization” has been observed in national parks, allowing high-impact activities. For instance, mountain biking is now permitted in Waraira Repano National Park, and airstrip expansion has occurred in the Los Roques Archipelago, both of which compromise their ecological integrity.
In short, there are critical failures in monitoring, oversight, and management capacity in these areas. It is evident that extractive activities are being prioritized over environmental conservation. There is no effective law enforcement or real control over destructive economic activities inside or outside protected areas. Therefore, protecting ecosystems must begin with the enforcement of existing environmental law.
5. How can people be educated and made aware of the importance of environmental preservation?
In the current context of weak environmental governance by the State, NGOs and civil society have emerged as crucial actors in reporting, monitoring, and seeking solutions to the environmental crisis. Examples of their activism include organizations such as PROVITA, which works on ecosystem evaluation, environmental education, and the conservation of endangered species.
Other NGOs focus on public space recovery, biodiversity protection, sustainable development, protected areas, solid waste management, and water resources. Additionally, there have been initiatives targeting the conservation of endangered species and combating invasive organisms. However, these NGOs cannot assume the responsibilities of the State and face significant challenges, such as limited funding, which hampers their operational capacity.
The Venezuelan Constitution promotes citizen participation in addressing environmental issues. It also recognizes that environmental management must include society, acknowledging principles of social justice and quality of life. Environmental education is considered essential to fostering an environmental culture and citizen co-responsibility in waste management. However, despite these principles, state opacity severely restricts effective public participation.
This opacity stems from the fact that the Venezuelan state plays a dual role in environmental management: it is both regulator and perpetrator. Through its designated environmental ministries and agencies (such as the Ministry of Ecosocialism and INPARQUES), the State is legally mandated to protect the environment. Yet, state-owned enterprises (e.g., PDVSA) are among the main polluters, and state policies (such as the Orinoco Mining Arc) actively promote environmentally harmful activities. This creates a profound conflict of interest that undermines any genuine effort at environmental governance. The State shifts from being a protector and guarantor of environmental law to a significant contributor—and even facilitator—of environmental degradation.
This internal contradiction renders effective and coherent environmental management virtually impossible without fundamental changes to state policy, accountability mechanisms, and a clear separation between regulatory and extractive functions. Civil society attempts to act as a critical counterbalance but finds itself in a vulnerable position. NGOs have tried to fill critical gaps in monitoring, reporting, advocacy, and direct conservation actions—highlighting a governance vacuum. Yet their overall capacity to ensure environmental protection remains quite limited.
Therefore, environmental preservation requires, on the one hand, that the State fulfill its responsibilities, and on the other, that these organizations—which represent a crucial component of any potential environmental recovery—be supported and protected.
6. In your opinion, does Venezuela need more environmental laws, or rather broader public awareness of the importance of environmental preservation?
I believe that the current environmental regulations are sufficient to address the multiple environmental problems we are facing. If we compare the current state of the environment and the risks to which ecosystems are exposed with the requirements set by existing environmental laws, we can clearly identify the compliance gaps that must be closed to achieve a healthy environment. What is most urgently needed to close those—already well-known—gaps is, first and foremost, a sufficiently capable institutional framework, endowed with the necessary resources to address these challenges.
However, if the country aims to revive its economy by boosting exports of fuels, petrochemical products, steel, iron, aluminum, cement, and various agricultural commodities, it will inevitably have to meet the increasingly stringent environmental requirements already present—or emerging—in global markets. A case in point is the European Union’s Carbon Border Adjustment Mechanism (CBAM), set to come into effect in 2026, which mandates that imports of steel, aluminum, fertilizers, and other goods be decarbonized—that is, produced with low greenhouse gas emissions. This is something we must learn to do, and to that end, our regulatory framework must be updated. In this respect, our environmental laws are outdated and will require substantial revision. The same holds true if Venezuela aspires to offer sustainable tourism, which must necessarily be far more environmentally respectful than the current practices to attain international certification.
7. How would you rate environmental governance in Venezuela?
Environmental governance in recent years in Venezuela is characterized by a profound and alarming disconnect between a legal framework intended to balance economic and social development with environmental preservation, and the severely compromised implementation of those laws in practice. The most pressing environmental issues—such as massive oil spills, unregulated illegal mining, deforestation, and deficient solid waste management—not only persist, but have worsened dramatically.
These challenges should not be understood as isolated ecological issues; they are intrinsically linked to, and exacerbated by, the deep socio-economic crisis and the institutional collapse that has weakened the State’s ability to monitor, regulate, and enforce its own environmental laws. Undoubtedly, the severe economic crisis—evidenced by the sharp decline in oil production—has had a direct and devastating impact on the State’s environmental management capacity. A critical limitation is the lack of financial resources for environmental governance in general. Civil society organizations that defend the environment are particularly affected by this resource scarcity. Yet environmental recovery primarily falls on the government. Reforestation, for instance, is a costly endeavor not realistically manageable by NGOs alone.
The “austere allocation of resources” in the annual environmental budget constitutes a structural barrier to any improvement initiatives. Furthermore, governmental opacity and the systematic lack of access to official information prevent accurate assessments and effective accountability.
8. In whose hands should environmental governance lie?
The Ministry of People’s Power for Ecosocialism (MINEC), formerly the Ministry of the Environment, is the lead agency for environmental policy in Venezuela. Its broad responsibilities include environmental quality management, land-use planning, waste and residue management, and biodiversity conservation.
The National Parks Institute (INPARQUES) is the body responsible for the administration, conservation, and monitoring of the country’s national parks and natural monuments. Historically, the Organic Environmental Law of 1976 already outlined responsibilities for the conservation, protection, and enhancement of the environment, including land-use regulation, control of degrading factors, promotion of environmental awareness, support for research, and encouragement of public participation.
The strengthening of both institutions is fundamental to restoring coherent and effective environmental governance in the country.
9. In your view, what are the most urgent environmental problems, and how can they be addressed?
The most critical and cross-cutting challenge for environmental governance in Venezuela is the environmental re-institutionalization of the country. This involves not only restoring the technical and operational capacity of environmental institutions but also ensuring transparency, access to public information, and a decisive fight against impunity.
It is imperative to reverse the dominance of short-term economic interests over the safeguarding of natural resources and environmental quality. This is a difficult challenge, particularly given the urgent need to reverse Venezuela’s deepening economic crisis.
The most relevant actions, in my view, to address Venezuela’s complex environmental crisis include:
- Strengthening institutions and transparency: It is essential to recover and reinforce the capacities of MINEC and INPARQUES by allocating adequate budgets, attracting and retaining qualified personnel, and modernizing their operations. Proactive transparency must be guaranteed, with regular publication of data, reports, and environmental impact studies in accessible, open formats.
- Investigating and sanctioning environmental crimes swiftly and impartially, without impunity, through the establishment of a robust environmental justice system.
- Reorienting economic and extractive policies: Repealing the decree that created the Orinoco Mining Arc and implementing a closure and environmental rehabilitation plan for areas affected by illegal mining. Mining should be restricted to areas where geological prospecting studies determine the existence of significant deposits whose exploitation is of legitimate economic or social interest to the nation. Designating 11 million hectares for potential exploitation—of which only a small portion was actually studied—is an unacceptable overreach, especially in regions of high biodiversity.
- Diversifying the economy to reduce dependence on natural resource extraction, particularly in ecologically sensitive areas. Venezuela has enormous economic diversification potential. Investment should be prioritized in the maintenance and modernization of oil infrastructure, not only to increase output but also to prevent spills and leaks and ensure accountability in oil operations.
- Integrated management of solid waste and water resources: A national sanitation plan must be designed and implemented, including the closure of open-air dumps and the development of integrated solid waste management systems based on a circular economy (reduce, reuse, and recycle). Investment in water infrastructure must be prioritized to ensure safe access to potable water and sanitation for the population. A short-, medium-, and long-term plan should be developed to restore the Lake Maracaibo basin. On this matter, documents compiled by the Lake Maracaibo Basin Conservation Association (ACLAMA) and the University of Zulia offer valuable guidance. A sanitation program for the Lake Valencia basin should also be implemented, based on the roadmap developed by the Orinoco Group. Large-scale reforestation plans should be initiated, with a focus on affected watersheds and protected areas, encouraging community participation.
- Promoting citizen participation and the role of civil society: It is necessary to protect and support civil society organizations and environmental defenders, and to promote environmental education at all levels to foster a culture of civic responsibility in environmental protection.
- Ensuring full implementation of the Escazú Agreement to strengthen access to information, public participation, and environmental justice.
- Fulfilling international commitments: Domestic policies must align with global environmental commitments, particularly those under the UN Framework Convention on Climate Change and the Convention on Biological Diversity, presenting transparent and verifiable reports on progress and challenges. Venezuela must also engage with international bodies and neighboring countries to address transboundary issues such as river pollution and deforestation in the Amazon.
These recommendations aim to lay the foundations for more effective environmental governance in Venezuela, acknowledging that the recovery of the country’s natural heritage is inseparable from the restoration of its democratic institutions and socio-economic stability.
10. In your opinion, does Venezuela contribute to global warming?
Venezuela’s contribution to global climate change is relatively low compared to industrialized nations, as its greenhouse gas emissions are modest. Nonetheless, this remains a relevant issue for several reasons.
Among them are methane emissions from oil activities—Venezuela ranks as the fifth-largest global emitter of methane from oil and gas production. Methane is a potent greenhouse gas with a global warming potential significantly greater than that of CO₂. Although this is a technical issue, it is one that can be resolved.
Another factor is Venezuela’s historic dependence on oil. The country’s economy has long relied on oil exports, and although production has declined in recent years, the oil sector continues to be a significant source of emissions. One of the most immediate strategies proposed for economic recovery is increasing oil production—but this could lead to a substantial rise in emissions. The challenge, therefore, is to ramp up oil activity without proportionally increasing emissions.
Deforestation is also a major concern. Forest degradation reduces CO₂ absorption capacity, and—as previously mentioned—a considerable loss of forest cover has been recorded in recent years.
Finally, there is the issue of weak environmental policy. Although Venezuela is a signatory to the Paris Agreement, it has not implemented effective climate policies. There is currently no Climate Change Law. The decline in greenhouse gas emissions in recent years is attributable more to the collapse of industrial activity than to any concrete environmental action.
It should also be noted that Venezuela is highly vulnerable to the impacts of climate change, including prolonged droughts, floods, and landslides. These phenomena exacerbate the country’s already complex socio-economic situation and may increase internal displacement and migration. The Orinoco Group has prepared guidance documents outlining what a national climate change policy should look like.
11. Many believe that climate change and global warming are inventions of powerful interest groups. What is your view on this topic?
I believe that climate change denial is a movement aimed at delaying or obstructing collective action to address the climate crisis, thereby protecting entrenched economic and political interests tied to a fossil-fuel-dependent model of production and consumption. This is not legitimate scientific skepticism, but rather an organized and funded disinformation strategy. The primary goal of denialism is to safeguard the profits of the fossil fuel industry and related sectors whose operations would be affected by a transition to a low-carbon economy. This involves opposing regulations, carbon taxes, and subsidies for renewable energy.
Its modus operandi is to create the false impression that there is no scientific consensus, thereby paralyzing public debate and reducing citizen pressure on political leaders to act on climate policy.
Countering denialism is not about winning debates with complex scientific arguments, but rather about addressing its causes and expressions. For example, by emphasizing that over 99% of climate scientists worldwide agree that climate change is real, is occurring at an unprecedented rate, and is primarily caused by human activity. One must also highlight how climate change affects banana production in Zulia, coffee yields in the Andes, water availability in Caracas, or hydroelectric generation at the Guri dam. Furthermore, exposing who funds disinformation campaigns is crucial. Following the money reveals that denialism is a public relations campaign, not a scientific debate.
It is also helpful to focus on the feasibility and benefits of solutions—such as job creation in renewable energy, energy efficiency, and sustainable infrastructure. Emphasizing how the energy transition reduces air pollution (thus lowering respiratory illnesses), and that combating climate change builds safer, more resilient communities in the face of extreme weather events, is key to advancing climate action.
12. Is it feasible to establish continuous environmental education through schools, media, social networks, and government institutions?
Environmental education in Venezuela has eroded as part of the broader collapse of the entire education sector. However, in my view, the remaining trained human resources in universities and NGOs continue to play a vital—though insufficient—role. There is an undeniable need to invest in both formal and informal environmental education to fill current gaps. Nevertheless, this is only one aspect of a larger issue: the crisis in environmental institutional governance.
In this regard, the Orinoco Group conducted an analysis that identified several essential elements: decentralizing environmental management to the state, municipal, and community levels; updating environmental regulations; establishing a “zero impunity” policy for enforcement; strengthening environmental justice and prosecution; ensuring administrative continuity of managing agencies; and reinforcing the importance of urban environmental management. Just as importantly, the reinstatement of environmental education must be prioritized.
13. In past decades, Venezuela was seen as a global reference in environmental management. Has it lost that status? Which countries are leading in this field today?
Environmental governance in any country is closely linked to the type of development it pursues. In the past, when environmental laws first began to emerge, Venezuela was a pioneer in Latin America, which made it a regional reference. Today, however, those laws and management systems have evolved in line with each country’s particular vision of development.
Unfortunately, Venezuela’s progress stalled alongside its broader economic and developmental decline. Nonetheless, this unfortunate reality also offers an opportunity: when the country embarks on a new path of development, it will be able to draw from the lessons and experiences of other nations in environmental management. This could allow Venezuela to catch up quickly in various areas.
For example, Costa Rica and Colombia have made notable efforts to protect biodiversity; Chile has advanced in solid waste management; and Brazil and Colombia have made strides in reducing deforestation in the Amazon.
14. In your opinion, what measures should the oil industry take to minimize its environmental impact?
Regarding Venezuela, it is worth recalling that PDVSA once achieved a relatively acceptable environmental performance. This was made possible because the company implemented an internal environmental policy with mandatory compliance, established an environmental management system, employed a highly trained professional and technical staff for this purpose, and developed contingency plans to respond to hydrocarbon and product spills.
Going forward, whether oil operations are public or private, they must incorporate all of these elements.
However, environmental laws evolve in response to scientific and technological advances, social and political changes, and growing environmental awareness. For example, we now better understand how ecosystems function and respond to pollution; more efforts are required to address issues like climate change and biodiversity loss; new technologies have emerged that reduce the environmental footprint of industrial processes; and valuable lessons have been learned from the enforcement of existing laws. These and other factors drive the evolution of environmental regulations, and companies must adapt accordingly.
Today, oil companies are increasingly scrutinized for their greenhouse gas emissions. This has spurred initiatives across the industry to reduce emissions—whether through improving energy efficiency, incorporating renewable energy sources, offsetting emissions via forest projects, or deploying carbon capture and underground storage technologies (CCUS).
Venezuela must follow this path if it hopes to revitalize its oil sector. The country holds significant potential in this regard. Thousands of abandoned oil wells and depleted oil fields exist in Venezuela, many of which have been extensively studied over nearly a century of petroleum activity. These may offer the geological conditions required for permanent underground CO₂ storage—not only for the oil industry but also for other sectors like steel, petrochemicals, thermal power, and cement.
In this way, Venezuela could repurpose these subsurface reservoirs and their associated infrastructure (depending on their condition) to facilitate the decarbonization of its industries. This would achieve two simultaneous objectives: fulfilling the country’s commitments under the Paris Agreement on climate change and aligning domestic industry with global decarbonization trends—an increasingly essential condition for maintaining competitiveness in international markets.
