The negative impacts of climate change call for an urgent global response, to mitigate emissions and strengthen the adaptive capacity of social, economic, and environmental structures. In Latin America and the Caribbean, in a context of high vulnerability and three simultaneous crises affecting the region, development models need to be transformed, to bring about a sustainable transition. During this process, national and local policies must harness the full potential of climate action, through adoption of new technologies, innovation, productive reorganization, and identification of synergies. This is why nature-based solutions and carbon dioxide removal measures and technologies are critical to achieving climate goals. Against this backdrop, this paper examines the opportunities and challenges of large-scale implementation of such measures in the region, emphasizing the need to accelerate ongoing efforts, expand the research frontier and manage risks.