IOA Annual Report 2022

ANNUAL REPORT 2022

ANNUAL REPORT 2022

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he Institute of the Americas (IOA) is a non-partisan, independent nonprofit organization whose mission is to be a catalyst for promoting economic development and integration, emphasizing the role of the private sector, as a means to improve the economic and social well-being of the people of the Americas.

Founded in 1981 by Ambassador Theodore E. Gildred II and co located on the campus of the University of California, San Diego, the IOA was

established to encourage economic and social reforms across the Americas, enhancing private sector collaboration and strengthening political and economic relations between Latin America, the Caribbean, the United States and Canada.

www.iamericas.org Institute of the Americas is a 501(c)(3) organization financed by tax deductible contributions from private individuals, corporations, foundations and by government grants. Employer Identification Number (EIN): 95-3671557

©2021 Institute of the Americas

“América, Mar y Tierra”

Credit: Derek Alberto Kiy, 2022 Cover art as created using standard photo manipulation tools and AI-generated imagery using Stable Diffusion 1.4.

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ANNUAL REPORT 2022

TABLE OF CONTENTS

Joint Letter from the Chairman and CEO

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2022 Selected Publications

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Highlighted Forums & Convenings

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40 TH Anniversary Celebration Energy & Sustainability Program

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Environment & Climate Change Program

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Economic Competitiveness Program

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Public Programs

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Statement of Financial Position

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Statement of Activities

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Leadership

22

Our Team

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Non-Resident Fellows

26

Donors / Thank You!

27

Partners

30

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ANNUAL REPORT 2022

Joint Letter from the Chairman and CEO

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his past year the Institute of the Americas (IOA) celebrated its 40th anniversary, honoring the vision and generosity of Ambassador Theodore E. Gildred, our founder. Ambassador Gildred’s inspiration for the Institute came amidst the economic challenges and human suffering brought about by the Latin America debt crisis of the 1980s, a period categorized as the lost decade. Here, Ambassador Gildred believed that expanded private sector engagement along with strengthened diplomatic relations between the United States and countries of Latin America and the Caribbean could improve the economic and social well-being of their people over time.

Over the past forty years, some progress had been made as the region, in general, became more outward-looking with many countries forging regional trade agreements while also working to maintain a stable economic environment. Yet, with the exception of Mexico -that diversified its economy due, in large part, to NAFTA- most countries across the region remain highly dependent on commodities. Also, for a variety of reasons, Latin America has not kept pace with the economic growth and educational attainment levels of East Asia. Today, Latin America faces its worst economic contraction in modern history, due to the COVID-19 pandemic, supply chain disruptions and changing geo-politics. Also, the state of democracy remains fragile in many countries across the region with the erosion of basic freedoms and attacks against foreign investment, open markets and freedom of the press. Such challenges are exasperated by concerns over public safety and security, corruption, political polarization and growing income inequalities. At a time when there is a critical need to promote greater regional cooperation to confront emerging challenges of climate change and regional economic competitiveness, divisions are growing. As we collectively look toward the future across the Western Hemisphere, the question of what has worked and what has not, is critical with a view from learning from the past to more effectively respond to the emerging needs of the region. We must also come to terms with the eroding U.S. influence in Latin America as well as the growing economic and security influences of both China and Russia in our hemisphere . Amidst this backdrop, over the past year the Institute of the Americas has been proactive in respond ing to changing geo-politics and regional economic challenges by convening leaders from business, government, civil society and academia to critically examine emerging issues and needs across the hemisphere focused on energy transition and security, the environment and climate change, economic competitiveness and regional security concerns.

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ANNUAL REPORT 2022

After two years of COVID setbacks, IOA organized its first series of in-person forums and conferences beginning with its energy roundtable in Buenos Aires and followed by its Madrid Energy Conference in April. This past fall, IOA convened its 31st annual La Jolla Energy Conference attended by over 125 energy leaders from across the Hemisphere. In May, IOA also convened a two-day forum entitled U.S. Policies toward Authoritarian States in the Americas featuring 19 recognized thought leaders that examined U.S. policy options vis-à-vis Cuba, Venezuela and Nicaragua, amidst changing geo-politics, especially in light of the Russian-Ukrainian conflict. In support of the IX Summit of the Americas, IOA organized the Pacific Climate Forumof the Americas: PromotingMarine Biodiversity & Climate Resilience in an Era of High Risk &Uncertainty on June 1-3, in collaboration with Scripps Institution of Oceanography and UC San Diego’s School of Global Policy & Strategy (GPS). Over the past year, IOA has partnered with the GPS to become the U.S. coordinators of the North American Forum (NAF), hosting a meeting of thought leaders from the U.S., Mexico and Canada on November 14-15 with the goal of promote a regional approach to security, prosperity and an improved quality of life in our three countries . Closer to home, IOA collaborated with UC San Diego’s Center for US-Mexican Studies to host the tri-state Commission of the Californias (COMCAL) while also jointly developing an issue paper on the cross-border impacts of California’s electric vehicle regulatory mandate on Baja California and Baja California Sur, Mexico. Given the importance of Brazil as the Latin America’s largest economy, earlier this month, IOA also co-hosted a forum with the San Diego World Affairs Council featuring former U.S. Ambassador to Brazil, Todd Chapman, highlighting the economic and political implications of that country’s recent presidential election of Luiz Inácio Lula da Silva on the rest of the region. For the past 13 years, IOA operated and managed a STEAM educational program targeted at secondary and high school students and teachers in Latin America. In an effort to give greater attention to IOA’s core competencies in the areas of research, analysis, and multi-stakeholder convenings, our STEAM programwas successfully transitioned to UC San Diego’s Extension program during Q1-2022. A highlight of this past year was IOA’s 40th anniversary gala on October 29 honoring our founder, Ambassador Theodore E. Gildred, and featuring a keynote address from Dr. Ernesto Zedillo, former President of Mexico and current Director of Yale’s Center for Globalization Studies, who spoke about the challenges and opportunities we face today across the Americas in preserving democratic institutions as well as promoting economic progress that is more inclusive. As we look towards the coming year, we welcome the opportunity to forge stronger collaborative ties with our partners both regionally and across the hemisphere as we work to undertake thoughtful research and analysis as well as high quality programming, dialogue, and networking opportunities for our key stakeholders.

Thank you for all your on-going support to further the Institute of the Americas’ mission! Sincerely,

Jorge Rosenblut Board Chairman

Richard Kiy President & CEO

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ANNUAL REPORT 2022

2022 Selected Publications

Latin America Energy Transition Workforce Readiness Assessment and Barometer

In June, timed to coincide with the IX Summit of the Americas in Los Angeles, we published our research and assessment of energy transition workforce readiness in eight Latin American countries. The research project evaluated the status of energy transition implementation and corresponding workforce readiness and sets forth high-level recommendations to enhance the region’s ability to capture jobs. VIEW REPORT.

Forum Proceedings of U.S. Policies toward Authoritarian States in the Americas: Fresh Thinking Amidst Changing Geo-Politics

In anticipation of the IX Summit of the Americas, IOA convened a two-day virtual forum in May to discuss “U.S. Policies toward Authoritarian States in the Americas: Fresh Thinking Amidst Changing Geo-Politics.” The forum examined U.S. policy vis-à-vis Cuba, Venezuela and Nicaragua and potential future policy

options for the United States. VIEW PROCEEDINGS REPORT .

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ANNUAL REPORT 2022

California’s Advanced Clean Cars II (ACCII) Rule: An Assessment of Economic Opportunities & Cross-Border Impacts in the Las Californias Region. In support of the Commission of the

Californias (COMCAL), IOA together with the UC San Diego Center for U.S.-Mexican Studies, San Diego State University’s Institute for Regional Studies of the Californias, and the Universidad Autónoma de Baja California Sur (UABCS) released an issue paper examining cross-border issues, barriers and opportunities derived from the California Air Resources Board (CARB)’s regulatory mandate on electric vehicles and sunsetting of internal combustion engine vehicle sales by 2035. VIEW REPORT .

Examining cross-border, nature-based market solutions to protect blue carbon coastal ecosystems in the Californias.

The tri-state binational region of the Californias, consisting of the U.S. State of California and the Mexican states of Baja California and Baja California Sur (collectively, Las Californias) is one of the most ecologically diverse bioregions in the world. Our project assessed binational, innovative funding mechanisms and offered recommendations to help protect and conserve blue carbon ecosystems throughout the Baja California Peninsula. Available in English and Spanish.

©Octavio Aburto

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ANNUAL REPORT 2022

Highlighted Forums & Convenings

Pacific Climate Forum

In the run-up to the IX Summit of the Americas in June and in partnership with Scripps Institution of Oceanography and UC San Diego’s School of Global Policy and Strategy, IOA hosted a virtual three -day event titled the Pacific Climate Forum: Promoting Marine Biodiversity and Climate Resilience in an era of High Risk and Uncertainty that convened policymakers, leading scientists, academia and civil society to discuss urgent marine topics for the Hemisphere. Find the high-level summary here.

Argentina Energy Roundtable

Hosted in May, together with the University of Buenos Aires’ Center for the Study of Energy Regulatory Activity (CEARE), IOA ‘s Argentina Energy Roundtable focused on the role of Vaca Muerta for natural gas production, as well as critical infrastructure projects to allow producers to meet domestic, regional, and international energy demand. The Roundtable also assessed the regulatory conditions necessary for nationwide planning, renewables and sustainable energy, climate change, hydrogen and lithium projects. See roundtable summary report here .

Madrid Energy Conference

IOA’s Madrid Energy Conference was re-launched in person in April this year with the goal of continuing to serve as the nexus for Latin American and European energy leaders to discuss energy transition solutions and the near-term need to balance energy security demands with the climate imperative. The role of natural gas, hydrogen and renewables were discussed against this backdrop.

La Jolla Energy Conference IOA’s hallmark La Jolla Conference resumed in-person in September. The global macroeconomic context - rife with soaring inflation and economic headwinds - underscored that volatility that has become part of our daily lives and is quite pronounced in the energy sector. This year’s 31st annual conference was subtitled “Debating the Future of Energy in Latin America and the Caribbean.” Among conference participants, t here was fleeting consensus with the heterogeneity of the region’s path towards energy transition on clear display.

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ANNUAL REPORT 2022

Summit of the Americas On June 6-10, President Biden hosted the IX Summit of the Americas in Los Angeles. IOA staff and board members were invited to participate in the Summit’s Social Actors and Civil Society Organizations Forum as well as the IV CEO Summit. IOA Board Member Rolando Gonzalez-Bunster, Chairman of Inter-Energy , participated as a panelist for a session “Greening Growth: Driving the Energy Transition and Sustainability” at the CEO Summit. See IOA’s Summit photo gallery.

Commission of the Californias Working Group Meeting

On September 14th, senior policymakers from the States of California, Baja California, and Baja California Sur met at the Institute of the Americas at the first meeting of the Commission of the Californias (COMCAL) since its re establishment in December 2019. Co-hosted by IOA and the UC San Diego Center for US-Mexico Studies, officials at this tri-state meeting discussed the need for expanded binational cooperation to address emerging cross border issues, including barriers and opportunities associated with the California Air Resources Board’s recently approved Advanced Clean Car II (ACCII) regulatory mandate.

North American Forum (NAF)

On November 14-15, fifty senior thought leaders from Canada, Mexico and the United States met at the Institute of the Americas for a convening of the North American Forum (NAF). Since 2005, the NAF has sought to bring together its members to explore the interactions among the mutually reinforcing goals of security, prosperity and enhanced quality of life for Canada, Mexico and the United States. In 2022, IOA and the UC San Diego Graduate School for Global Policy & Strategy assumed the role as the U.S. Coordinators for the NAF. Ambassador Thomas A. Shannon Jr. , the former U.S. Under Secretary of State for Political Affairs and an IOA board member assumed the role as U.S. NAF Chairman.

Canadian, Mexican and US representatives of the North American Forum meeting at the Institute of the Americas on November 14-15, 2022

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ANNUAL REPORT 2022

40 th Anniversary Celebration

future of democracy and economic progress in Latin America. A O

n October 29th, the Institute of the Americas celebrated its 40th anniversary with a gala as a tribute to our founder, Ambassador Theodore Edmunds Gildred. IOA’s gala featured a keynote address by Dr. Ernesto Zedillo Ponce de León, Director of Yale University’s Center for Globalization Studies and the former President of Mexico, on the

Gildred family with President Zedillo.

President Zedillo delivering his keynote address.

President Zedillo and IOA Board Chair Jorge Rosenblut, making a toast.

IOA B oard member Nelly Molina with Pres. Zedillo and Adriana Berrocal.

Amb. Jeff Davidow (IOA’s 3rd President) with Pres. Zedillo.

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ANNUAL REPORT 2022

40 th Anniversary Celebration

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he IOA’s gala was made possible thanks the generosity of the Americas Foundation Inc. and the BurnhamFoundation. Attended by 165 guests from across the hemisphere, including IOA’s former presidents, Jeffrey Davidow and Charles Shapiro, as well as the wife of our second President, the late Paul Boeker, Peggy Rhoads and our Chair Emeritus, Gastón Luken.

IOA board member Malin Burnham, Roberta Burnham with IOA Chairman Jorge Rosenblut and Melissa Castaneda.

Charles Shapiro (IOA’s 4th President) with IOA Advisory Council member, Amb. Leslie Bassett.

DavidWeaver, Pres. Zedillo, Richard and Anne Hojel.

IOA Board Member Mary Walshok and Alina Gonzalez.

IOA staff: James Clark, Cecilia Aguillón, Rita Oliveira, Sherry White, Jeremy Martin, Francesca Carrillo, Catalina López, Tania Miranda & Diana Rodríguez.

Gala guests dancing.

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ANNUAL REPORT 2022

Energy & Sustainability Program A T

he Energy & Sustainability Program continued its efforts aimed at shaping and informing the public policy and investment discourse across our hemisphere in 2022. Our team based in La Jolla, CA with non-resident fellows in Mexico, Argentina, Brazil, Chile, Uruguay, Canada and the UK strives to enhance the debate of critical energy and sustainability issues through timelyevents andpanels, thought leadershippieces including reports, op-eds and policy briefs as well as direct engagement with governments.

We were also very pleased with the return of our in-person events in 2022. In April of this year, we relaunched the in-person Madrid Energy Conference: Where Europe and Latin America meet for energy dialogue. In May we returned to Buenos Aires for our Argentina Energy Roundtable. In late September, the La Jolla Energy Conference returned to an in-person format here at our Pacific home. To set the stage for our discussions and key themes at the XXXI La Jolla Energy Conference, we conducted two “Curtain Raiser” interviews. One with Jose Luis Manzano , Chairman of Integra Capital and another with Tom Reichert, CEO of Environmental Resources Management (ERM). We also resumed our conference sideline interviews. We spoke to Gladis Genua from CAF, I gnacio Horvath the CEO of ANCAP (Uruguay) and Duncan Wood of the Wilson Center.

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ANNUAL REPORT 2022

Thought Leadership In January, we invited our Non-Resident Fellows to prepare short essays with their views on the landscape and outlook for the sector. In mid-January we published “2022 Energy Landscape and Outlook.” In April, we published “Easter and Electricity in Mexico – The Electric Sector Reform Debate, Congressional Vote and What Comes Next”, a compilation of essays focused on the electric sector in Mexico and following up on the historic vote in Congress on Easter. In June, timed to coincide with the Summit of the Americas in Los Angeles, we published our yearlong research and assessment of energy transition workforce readiness in eight Latin American countries.

In July, we collaborated with our colleagues from the Environment and Climate Change program on a report on the occasion of the visit by Mexican president Andres Manuel Lopez Obrador to Washington, DC.

Our additional research and thought-leadership pieces included, among many others, a report on the challenges of living without access to electricity in Baja California , implications of California’s sunsetting of internal combustion engine sales by 2035 , as well as discussion of the USMCA trade dispute and the role of energy and the key policies to guide our path to Net Zero. Shaping Policy

In March, we collaborated with the lower house of Mexico’s Congress on a special event and session aimed at assessing the outlook for the country’s economic competitiveness , as the electric reform amendment was being debated. In June, and in collaboration with the Geothermal Energy Advancement Association, we launched a three-part webinar series aimed at assessing the potential and outlook for geothermal energy across the Americas. Part I took place on June 10 and Part II occurred on October 18, with part three TBD. Also in June, we convened a unique webinar: Colombia elects Gustavo Petro : Rapid Response Briefing on Economy, Energy and International Relations and a panel featuring our Non-Resident Fellow, Roger Tissot and John Padilla of IPD Latin America.

IOA’s President Richard Kiy, Dip. Jorge Ernesto Inzunza, Francisco Salazar & Alejandra Parra de Inzunza

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ANNUAL REPORT 2022

Environment & Climate Change Program

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uring our second year of existence, the Environment & Climate Change (EC2) program supported climate and environmental policy through scientific research , public policy analysis, stakeholder engagement and convenings with the goal of advancing climate action and sustainable businesses in Latin America. This year, we were pleased to launch our Sustainability Dispatch newsletter, published bimonthly with updates on our work and projects on the environment and climate change front.

Pacific Climate Forum T ogether with Scripps Institution of Oceanography and UC San Diego’s School of Global Policy and Strategy, IOA’s EC2 programhosted its first large, virtual conference, the Pacific Climate Forum , with a focus on nature-based solutions and coastal resilience, marine protected areas, green hydrogen, and water management. Over the course of three days, we hosted 10 different sessions and four scientific briefings. The Forum reached over 400 viewers from throughout the continent with the sessions also re-broadcast on UC-TV. A high-level summary proceedings was also published. As part of the Forum, we commissioned four videos highlighting the San Diego region’s innovative climate action projects and technologies in the areas of water resource management, marine protected areas, coastal resilience & nature based solutions and green hydrogen.

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ANNUAL REPORT 2022

ESG and the Business of Sustainability Through IOA’s collaborative work with the U.S. – Mexico Climate Change Working Group , and together with the UC San Diego Center for U.S-Mexican Studies, the Brookings Institution and the Tecnológico de Monterrey, we finalized a policy report with recommendations and made presentations with key stakeholders in Mexico, such as the Confederación Patronal de la República Mexicana and the Consejo Coordinador Empresarial (CEE). A T o expand IOA’s leadership in the area of sustainability leadership, IOA recruited its first Non-Resident Fellow, Soffía Alarcón, to support our work on ESG and carbon markets. With the support of Soffía, in April IOA published a technical briefing on the role of climate related risk disclosure regulations and their potential consequences for small and medium firms in LATAM. In addition, IOA organized an expert panel entitled, “Decarbonization across supply chains. The role of regulations on climate risk disclosures” organized as part of the United Nations 2022 Latin America and Caribbean Climate Week held in the Dominican Republic in July. For this expert panel, IOA also published a p roceedings brief. IOA also co-hosted the U.S.-Mexico Logistics and Supply Chain Leaders Meeting in Los Angeles, California together with the U.S.-Mexico Chamber of Commerce, California Chapter to discuss how the new proposed SEC regulation on Scope 3 emissions will affect all binational supply chains.

UN 2022 Latin America and Caribbean Climate Week in Dominican Republic. Right to left: Tania Miranda, Keith Nurse, Iván Islas-Cortés, Soffía Alarcón, David Colín, and Mauricio Mira

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ANNUAL REPORT 2022

Las Californias Blue Carbon Initiative and other key stakeholders better understand emerging opportunities for cross-border conservation tied to blue carbon habitats along the Baja California peninsula. To share lessons learned, a public forum was also organized as part of Climate Week Mexico-Colombia to present IOA’s publication entitled, “Legal Analysis of the Ownership and Use Regime of Mangroves, Seagrass and Macroalgae in Mexico, in Connection to their Capacity to Generate Blue Carbon Offsets.” A D uring2022, IOA concludedworkon its Las Californias Blue Carbon Initiative, publishing a final summary report entitled “Cross-Border, Nature Based Market Solutions to Protect Blue Carbon Coastal Ecosystems in the Californias,” in both English and Spanish . Additionally, IOA and its other project partners authored five topic-specific papers on key issues involved, such as potential sources of funding for wetland conservation in Mexico; Mexico’s legal and regulatory considerations on blue carbon; and Coastal wetlands as ecosystem services providers. The Mexican environment organization, Pronatura Noreste, developed an ESRI storymap to add a visual narration of our project to help policymakers

©Octavio Aburto Coastal mangroves, Bahia Magdelana, Baja California Sur, Mexico

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ANNUAL REPORT 2022

The Gulf of California Marine Program (GCMP): Supporting policy through research s part of a research project on ship-borne marine pollution stemming from ships’ scrubber technology , IOA developed a comparative assessment of regulations implemented across different locales in the Americas to curb this type of pollution. In October, IOA presented its results along with a series of recommendations in a working group with federal, state and local governmental authorities as well as civil society in the city of La Paz, Baja California Sur, Mexico. As part of this effort, the Gulf of California Marine Program (GCMP) produced a map of the Americas that highlights comparative regulatory differences across the region in both English and Spanish , as well as this 4-minute video capsule . Lastly, we evaluated and quantified air emissions and scrubbers’ washwater effluents of 10 large vessels that stayed at the La Paz Bay between January 2020 and June 2021. The report is available online in both English and Spanish. A

EC2’s Gulf of California Marine Program highlighted the role science communication plays in building collective knowledge

I n support of IOA’s Las Californias Blue Carbon initiative , GCMP also undertook work to quantify the value of carbon stocks both in Bahía Magdalena , in Baja California Sur, and in the Bay of San Quintín , in Baja California. Annual assessments of rocky reefs in the Gulf of California - which provide ecological information for other research regarding fisheries, tourism, marine protected areas and climate change - were also completed for 2022. Specifically, this data has been used to calculate tourism carrying capacity in Cabo Pulmo , and to update several marine protected area management plans. During2022, dataMares—theGCMP’s science communication initiative—celebrated its 8thyear anniversarywithagraphic book highlighting the importance of communicating science. It was presented at the Fondo de Cultura Económica´s Bella Época in Mexico City in October, and at the Guadalajara’s International Book Fair (FIL).

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ANNUAL REPORT 2022

Economic Competitiveness Program

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Panama City, Panama’s expanding downtown skyline. Panama has been one of the fastest growing economies in the world over the previous decade with an average growth rate of 5.81% from 2010 through 2022

nvestment and growth led by the private sector is essential to catalyze expanded economic development, reduce income inequality and boost regional prosperity across the Americas. Such investment is predicated on open markets, sound fiscal and tax policies, regulatory transparency and the rule of law, as well as a skilled workforce adaptable to the demands of today’s ever-changing digital economy.

Given changing geo-politics, the U.S., Canada, Mexico and the neighboring countries of Central America and the Caribbean are now uniquely positioned to build more secure and resilient next generation supply chains. That said, today, cooperation and integration among countries in the region, including North America, are under threat due to a variety of domestic, regional and international fissures.

In an effort to promote regional economic competitiveness across North America, the Institute of the Americas (IOA) has partnered with UC San Diego’s School of Global Policy & Strategy to serve as the U.S. Coordinators of the North American Forum (NAF). The IOA is also partnering with the UC San Diego Center for U.S.-Mexican Studies to support the Commission of the Californias (COMCAL) with the goal of helping to spur the regional economic competitiveness of the tri-state Las Californias region encompassing the states of California, Baja California and Baja California Sur.

COMCAL breakout meeting at IOA’s complex

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ANNUAL REPORT 2022

Public Programs

T he Institute’s Public Programs provide opportunities to inform , educate and engage civic and business leaders as well as members of the general public on key economic and political issues and trends, as well as the promotion of arts and culture, from across the Western Hemisphere. During 2022, IOA launched its Public Program Distinguished Speaker Series with a virtual keynote by renowned author and columnist Moisés Naím, who shared astute observations on autocrats, populism, polarization and our post-truth world. In May, we hosted our first in-person event at the Institute complex since COVID featuring Mexican economist and trade expert Luis De La Calle. As part of the series, we also hosted book

Former US Ambassador to Brazil, Todd Chapman, speaking at IOA

presentations with authors Saleem Ali, who spoke about how natural laws impact and define our human lives and our economic systems. In early November, IOA partnered with the San DiegoWorld Affairs Council to host a keynote address by Todd C. Chapman, the former U.S. Ambassador to Brazil, who shared his perspectives on the recent election of Luiz Inacio Lula da Silva as the next President of Brazil and the future of that country’s politics and economic outlook in the years to come.

Given its expanding leadership role with the North American Forum (NAF), IOA concludedits public programmingin 2022 by co-hostinga public forum in collaboration with the UC San Diego School of Global Policy & Strategy entitled,“ExpandingNorthAmericanCooperationin an era of ChangingGeo Politics,” featuring Tom Long, the co-editor, of North America2.0: Forginga Continental Future . The public forum also featured remarks by Ambassador Thomas Shannon, Jr., U.S. Chair of the North American Forum (NAF) and formerUnderSecretaryof State for Political Affairs; GoldyHyder, CanadaNAF Chair, President and Chief Executive Officer, Business Council of Canada; Tom d’Aquino, Former Canadian NAF Chair and Chairman of Thomas d’Aquino Capital; Ambassador Juan José Gómez Camacho, Mexican NAF representative, former Mexican Ambassador to Canada and Senior Fellow, SAIS at Johns Hopkins University.

Amb. T h om as Shannon, Jr., Goldy Hyder, Caroline Freund and Amb. Juan José Gómez Camacho

In FY-2023, IOA will be working to promote programs that help foster expanded economic cooperation, trade and investment by the U.S. private sector in strategic markets of Latin America committed to open markets, transparency and the rule of law.

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ANNUAL REPORT 2022

STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2021 (With summarized nancial information for December 31,2020)

ASSETS Cash and cash equivalents

2020 (NOTE 15) $ 159,478

2021 $ 127,935

Accounts receivable

193,893

17,828

Prepaid expenses

6,340

5,299

Investments

11,744,425

12,955,534

Property and equipment, net

2,945,360

2,864,928

TOTAL ASSETS

$ 15,049,496

$ 15,971,524

LIABILITIES AND NET ASSETS Liabilities:

$ 108,197

$ 93,480

Accounts payable and accrued expenses

-

164,217

Refundable advance

4,640

4,640

Deferred revenue

18,822

5,143

Capital lease payable

131,659

267,480

TOTAL LIABILITIES

Commitments (Note13)

Net assets:

6,021,913

5,197,623

Without donor restrictions

9,817,952

9,584.393

With donor restrictions

15,839,865 $ 15,971,524

14,782,016 $ 15,049,496

Total net assets Total liabilities and net assets

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ANNUAL REPORT 2022

STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DEDEMBER 31, 2021 (With summarized nancial information for the year ended December 31, 2020)

Without donor restrictions

With donor restrictions

Operating Activities: SUPPORT AND REVENUE Contributions and grants Sponsorship and registration fees Membership dues Rent revenue Net assets released from restriction Total operating support and revenue

395,267 171,864 245,000 189,642 - 1,001,773 2020 (Note 15)

TOTAL

208,321 .

709,232 98,787

500,911 98,787

165,000 141,582 996,395 1,902,675

- - (996,395) (788,074)

165,000 141,582 - 1,114,601

Non-Operating Activities: Investment income, net Realized and unrealized gain Total non-operating activities Change in net assets NET ASSETS AT BEGINNING OF YEAR NET ASSETS AT END OF YEAR EXPENSES Program services Energy and Sustainability Environment and Climate Program STEAM Total program services Supporting service: Management Fundraising Total supporting services Total expenses Operating de cit

520,764 426,880 298,026 1,245,670 476,807 80,477 557,284 1,802,954 99,721

- - - -

520,764 426,880 298,026 1,245,670

502,973 74,546 307,696 885,215 639,571 84,333 723,904

- - - - (788,074)

476,807 80,477 557,284

1,802,954 (688,353)

1,609,119 (607,346)

94,966 629,603 724,569

128,748 892,885 1,021,633

223,714 1,522,488 1,746,202

200,250 1,025,126 1,225,376

824,290 5,197,623 $ 6,021,913

233,559 9,584,393 $ 9,817,952

1,057,849 14,782,016 $ 15,839,865

618,030 14,163,986 $ 14,782,016

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ANNUAL REPORT 2022

Leadership Board of Directors

Juan Martín Bulgheroni VP Upstream Strategy & Planning for Argentina, Pan American Energy

Malin Burnham Chairman, The Burnham Foundation

Javade Chaudhri Partner, Jones Day Co-Chair, IOA Board Nominations & Governance Committee

Nelson W. Cunningham President and Co-Founder, McLarty Associates Co-Chair, IOA Board Nominations & Governance Committee

Manuel Estrella President, Grupo Estrella

José Fimbres Mendoza Vice Chairman, Institute of the Americas & Executive Committee Member, Grupo Calimax S.A. de C.V.

Carolina Freund Dean, School of Global Policy and Strategy, University of California San Diego

Theodore Gildred III President & CEO, Bon Vivant Resorts, LLC, The Lomas Santa Fe Group

Rolando González Bunster Chairman & CEO, InterEnergy

Richard C. Hojel Chairman of the Board, Corporación Frigus Therme

Pradeep Khosla Chancellor, University of California San Diego

Siobhan MacDermott Partner, The Consello Group

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ANNUAL REPORT 2022

Leadership Board of Directors

Jose Luis Manzano President, Integra Investment S.A.

Nelly Molina Vice President, Investor Relations, Sempra Energy

Clay Neff President, Chevron Latin America Exploration and Production

Jorge Rosenblut Chairman, Institute of the Americas & Consultant

María Sendra CEO & CIO, Making Waves Private Equity Funds

Amb. Thomas A. Shannon Jr. Senior Policy Advisor, Arnold & Porter and US Chair, North American Forum

Santiago T. Soldati Consultant

David R. Weaver Managing Director & Chairman of the Board Intercap Institutional Investors, LLC.

Mary Walshok Associate Vice Chancellor, Public Programs, University of California San Diego Chair, IOA Board Audit Committe

Alberto Völlmer Secretario, Fundación Santa Teresa

Charles J. Wortman Managing Director, JP Morgan Securities Chair, IOA Board Finance & Endowment Committee

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ANNUAL REPORT 2022

Leadership International Advisory Council

Leslie Bassett Former U.S. Diplomat

Amb. Jeffrey Davidow Senior Counselor, The Cohen Group

Dr. Samuel Dychter Senior Medical Director, Pfizer, Inc.

Richard Feinberg Professor Emeritus, School of Global Policy and Strategy, UCSD

​Rodrigo Gallegos Toussaint Director of Corporate Affairs, Grupo Modelo / ABInBev

Enrique García President, Council of International Relations of Latin America (RIAL)

Tara C. Kenney TCK Global Advisors, LLC

Abe Lowenthal Professor Emeritus of International Relations, University of Southern California

Atul Patel Senior Vice President, Treasurer, Pricemart, Inc.

Zach Rabinor Founder & CEO, Journey Mexico

Paulo Sotero Distinguished Fellow and Former Director, Brazil Institute, WoodrowWilson International Center for Scholars

Alfredo Thorne Principal Director, Thorne & Associates

24

ANNUAL REPORT 2022

Our Team

Richard Kiy President & CEO

Jeremy Martin Vice President, Energy & Sustainability

Sherry White Vice President, Public Programs

Celilia Aguillón Director, Energy Transition Initiative

Frncesca Carrillo Díaz Assistant Director, Public Programs

James C. Clark Advisor

Carlos Fernández Multi-Media Manager

Christian Chavez IT Consultant

Ernesto Grijalva Practitioner in Residence

Catalina López-Sagástegui Director, Gulf of California Marine Program

Tania Miranda Director of Policy & Stakeholder Engagement, Environment & Climate Change Program

Rita Oliveira Director of Operations & Energy Program Associate

Diana Rodríguez Director of Communications and Energy Program Associate

25

ANNUAL REPORT 2022

Non-Resident Fellows

Sof f ía Alarcón Associate Director, Americas, Sustainability Business at Schneider Electric

Leonardo Beltrán Administrative Board, Sustainable Energy for All (SE4ALL)

Trinidad Castro Executive Director, World Energy Council Chile

Andrés Chambouleyron Mangaing Director, Berkeley Research Group (BRG)

Marta Jara Otero Independent Advisor, Ventus

Carla Lacerda Advisory Board Member, Brazil Texas Chamber of Commerce

Nelson Narciso Filho President, NNF Consultoria Em Energia

Francisco Xavier Salazar Diez de Sollano Partner/Founder, ENIX

Chris Sladen Founder & CEO, Reconnoitre LTD

René Roger Tissot Project Manager, Artisanal Gold Council

We appreciate the work of our interns this year!

Jonah Harris Ezra Kraus Gordon Magne

Daniela Nelson Marco Gutiérrez Casale Nathaniel Wiener

26

ANNUAL REPORT 2022

Donors / Thank You! November 16, 2021 – November 15, 2022

ENERGY & SUSTAINABILITY PROGRAM

ENVIRONMENT & CLIMATE CHANGE PROGRAM

ECONOMIC COMPETITIVENESS PROGRAM

40TH ANNIVERSARY GALA

NORTH AMERICAN FORUM (NAF)

PUBLIC PROGRAMS

IOA GENERAL SUPPORT

100,000 AND ABOVE

Americas Foundation

Scripps Institution of Oceanography

Sempra

David & Lucille Packard Foundation

GCMP

$25,000 TO $99,000

Alumbra Innovations Foundation

Builders Initiative Foundation

Chevron

CONCYTEC

STEAM

Integra Capital

The Burnham Foundation

$15,000 TO $24,999

Cli ord Chance

PanAmerican Energy

Deloitte

Pluspetrol

Exxon Mobil Corporation

Schlumberger

InterEnergy

Solar Turbines

Konceptum Investments

Sproule

Orel Energy Group

27

ANNUAL REPORT 2022

Donors / Thank You! November 16, 2021 – November 15, 2022

ENERGY & SUSTAINABILITY PROGRAM

ENVIRONMENT & CLIMATE CHANGE PROGRAM

ECONOMIC COMPETITIVENESS PROGRAM

40TH ANNIVERSARY GALA

NORTH AMERICAN FORUM (NAF)

PUBLIC PROGRAMS

IOA GENERAL SUPPORT

$10,000 TO $14,999

Charles Wortman

Environmental Resources Management

Excelerate Energy

Holland & Knight

Johan Gerretsen

Jose Barraquiel Fimbres Mendoza

STEAM

Hojel Revocable Trust

The San Diego Foundation

5,000 TO $9,999

Berkeley Research Group, LLC

Compañía General de Combustibles

International Community Foundation

Chaudhri-Ayco Charitable Foundation

Repsol

Scott Wiener

Shell

Steve Williams (SENTRE)

$2,500 TO $4,999

Douglas Arthur (SENTRE)

Inter-American Development Bank

Jaguar EP

28

ANNUAL REPORT 2022

Donors / Thank You! November 16, 2021 – November 15, 2022

ENERGY & SUSTAINABILITY PROGRAM

ENVIRONMENT & CLIMATE CHANGE PROGRAM

ECONOMIC COMPETITIVENESS PROGRAM

40TH ANNIVERSARY GALA

NORTH AMERICAN FORUM (NAF)

PUBLIC PROGRAMS

IOA GENERAL SUPPORT

1,000 TO $2,499

Girard Foundation on behalf of Mary Walshok

Richard & Monica Kiy

STEAM

Theodore Gildred III

$999 AND UNDER

Anonymous – Network for Good

Leslie Basset

Alberto Coppola

Maria Sendra

Amir Sardari

Nancy Pearson

Atul Patel

Norma Ferrara

Bobby Edelman

Paul Kelly

Camilo Perez-Bustillo

Peter Brennan

Dario Santana

Ronelle Bobb

David Lang

Silvia Dubovoy

Donald McGregor

Soll Sussman

Ernesto Marcos

Sonia Kuster

Francisco Monaldi

Stan Katz

George Baker

Tomas Fernandez

Gilbert Boswell

Tomas Mata

Jessie Hill

Valeria Rochin González

Keith Behner

29

ANNUAL REPORT 2022

Partners

INSTITUTIONAL PARTNERS

OTHER E&S PARTNERS

California Chamber of Commerce San Diego Diplomacy Council San Diego State University Regional Institute for the Californias

ARPEL BN Americas British Argentine Chamber of Commerce CEARE CEBRI Geothermal Energy Advancement Assoc. OLADE Payne Institute @ the Colorado School of Mines Wilson Center ENVIRONMENT & CLIMATE CHANGE PARTNERS CentroMexicano de Derecho Ambiental (CEMDA) Defensa Ambiental del Noroeste (DAN) Pronatura Noroeste UCSD - School of Global Policy & Strategy UCSD- Scripps Institution of Oceanography US-Mexico Chamber of Commerce, California

San Diego World Affairs Council San Diego World Trade Center

Scripps Institution of Oceanography UC San Diego Center for US-Mexican Studies UC San Diego School for Global Policy & Strategy University of California Television ENERGY & SUSTAINABILITY STEERING COMMITTEE

Chevron Deloitte Exxon Mobil Integra Capital InterEnergy Pan American Energy Pluspetrol OREL Energy

Schlumberger Solar Turbines Sempra Energy Sproule

30

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