Climate love
Image of Sarah Chabane
Sarah Chabane

9 w

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Image of Gustavo Petro

Gustavo Petro

Climate love

Colombia presents $40 Billion green transition plan, a model for moving the money away from fossil fuels

Colombia is making headlines with its bold $40 billion investment plan aimed at transitioning away from its reliance on fossil fuels. After ending new oil and gas exploration two years ago, the country is now looking to replace lost revenues with green solutions like clean energy, nature-based climate projects, and sustainable agriculture.
The initiative, announced by Colombia’s Environment Minister Susana Muhamad during New York Climate Week, is part of a larger movement towards a global energy transition. Colombia plans to mimic successful Just Energy Transition Partnerships (JETPs), seen in countries like South Africa and Indonesia, where international funds are helping speed up the shift from fossil fuels to renewable energy. With up to $10 billion expected from international institutions, this plan highlights how developing nations can leverage global financial resources to fuel their climate ambitions.
This is exactly the kind of forward-thinking investment that the world needs to #movethemoney away from fossil fuels. By redirecting money from fossil fuels into green solutions, Colombia is paving the way for other countries facing similar challenges. With half of the country's exports currently tied to oil and coal, this transition is no small feat for the Latin American country. But Colombia has understood that this is about survival and creating new economic opportunities.
Gustavo Petro during the inauguration of the solar panel park La Unión
Gustavo Petro during the inauguration of the solar panel park La Unión


Colombia Looks to Future Without Oil in $40 Billion Transition Plan

Colombia Looks to Future Without Oil in $40 Billion Transition Plan

(Bloomberg) -- Colombia is set to announce a $40 billion investment plan aimed at replacing fossil-fuel export revenues that are expected to decline after the country ended new oil and gas exploration two years ago. Most Read from BloombergVanderbilt Leases Struggling NYC Seminary for Campus ExpansionNJ Transit, Amtrak Trains Delayed After Derailment Near NYCWhere Cargo Bikes Are Freeing Cities From Polluting VansExclusive Palo Alto Girls School Borrows $106 MillionWaiting for the Miracle of Chu

https://au.finance.yahoo.com/news/colombia-looks-future-without-oil-214620267.html?guccounter=1



https://www.bloomberg.com/news/articles/2024-09-26/colombia-quiere-futuro-sin-petroleo-con-plan-verde-de-us-40-000m



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  • Annett Michuki..

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    8 w

    the government is on the right track, the transition will be of benefit

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    • walter lungayi

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      Indeed, Colombia's transition is a significant step towards sustainability, demonstrating how nations can effectively shift resources to address climate challenges while fostering economic growth.

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      • Munene Mugambi

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        This green transition plan is truly inspiring! By ending new fossil fuel exploration and investing in clean energy and sustainable projects, they’re setting a global example. This bold move showcases their commitment to building a sustainable future and diversifying their eco

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        • Kihm Francis

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          9 w

          This approach highlights the importance of investing in renewable technologies, protecting biodiversity, and promoting social equity, proving that a just transition is not only possible but essential for our planet's health. It's an inspiring model for balancing economic development with climate responsibility!

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          • Munene Mugambi

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            @frankoh_kihm_080 Colombia's approach exemplifies how a just transition can create a sustainable balance between economic growth, environmental protection, and social equity. By investing in renewable technologies and protecting biodiversity, they’re showing the world that climate responsibility.

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          • We Don't Have Time

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            9 w

            Dear Sarah Chabane Your climate love has received over 50 agrees! We have reached out to Gustavo Petro by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

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            • Barton Wintheiser

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              9 w

              I completely agree with you. Life today has too much pollution and natural disasters so let's join hands to protect a clean and green atmosphere all for a better life. Let https://amongusgame.io contribute a small part to do that.

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              • Munene Mugambi

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                @barton_wintheiser Collective efforts are key to creating a cleaner, greener future. It's encouraging to see various platforms, even creative ones like games, contributing to environmental awareness. Every small action counts.

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              • Nu’oman A. A

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                9 w

                The investment portfolio will poised to drive economic transformation by developing sectors poised to replace oil revenues. It will fund nature-based climate solutions, clean energy projects, electrification of transport, and initiatives improving agricultural practices and biodiversity protection. I love it for them

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                • Banyenzakyi Andrew

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                  9 w

                  this is good for nature

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                  Re-watch all our COP29 broadcasts

                  We need to stop methane and #BuyMoreTime