This study offers an analytical innovation by proposing a link between classical theories of the risk society (Luhmann, Beck) and Latin American perspectives on risk governance (Cardona, political ecology), integrating them into a conceptual framework that explains how capitalist modernity produces differentiated risks in Latin America. The novelty of the work lies in connecting this theoretical basis with a critical analysis of institutional discourses and specific cases of risk governance in the region, in order to highlight how these discourses reproduce or dispute logics of vulnerability. The historical and structural conditions that shape Latin American risk society, marked by inequality, institutional fragility, and socio-ecological exposure, are examined. The research demonstrates that risk is socially produced through political, economic, and territorial decisions that generate unequal impacts. The work concludes by emphasizing the urgency of rethinking political agendas from a (trans)modern worldview that incorporates the society-nature relationship and promotes critical, ecological, and ethically committed thinking. The most important consequence of the study is the urgent need for political and social awareness in Latin America that allows for fair, inclusive, and contextualized risk management