US EditionColombia Climate Conference Highlights Lack of Financing for Shift From Fossil Fuels
Delegates will discuss national road maps and a final report as frustration grows over stalled progress since COP28, organizers said.
- On Friday, more than 50 countries convened in Santa Marta, Colombia, to establish a dedicated political space for the managed decline of coal, oil, and gas.
- Mounting impatience with the slow pace of United Nations climate negotiations spurred Colombia and the Netherlands to form this 'coalition of the willing' after previous summits failed to produce concrete phaseout agreements.
- Alongside state delegations, more than 1,500 civil society participants are attending, with a parallel 'People's Summit' involving more than 900 organizations ensuring grassroots voices influence official outcomes.
- The conference opened amid a severe global oil shock triggered by the war in Iran, with the International Energy Agency reporting supply fell 10.1 million barrels per day in March, calling it 'the largest disruption in history.'
- While participants seek to create policy certainty for clean energy investments, EU climate commissioner Wopke Hoekstra noted that the world's three largest greenhouse gas emitters—China, the U.S., and India—remain absent from the discussions.
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Colombia climate conference highlights lack of financing for shift from fossil fuels
SANTA MARTA, Colombia (AP) — Lack of financing is one of the biggest barriers to moving away from fossil fuels, officials and experts said at a global conference Monday in Colombia aimed at speeding up the shift from fossil fuels to cleaner energy. The gathering in the Caribbean city of Santa Marta comes as governments face mounting pressure to move beyond climate pledges and begin outlining how to phase out oil, gas and coal, the main drivers o…
Colombian Environment Minister Irene Velez Torres brings together about 50 states to accelerate the energy transition on which the UN COPs are only getting little progress
US President Donald Trump is a veteran climate crisis negationist and an ally of the oil industry. However, he does more than anyone to accelerate the global shift from fossil fuels to clean energy...
Oil and gas producing countries, or headquarters of large oil companies, will meet in Santa Marta because they know that the cost of not leaving fossil fuels behind is beginning to be politically unsustainable.
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