Colombia launches $40 billion investment portfolio for energy, climate transition

By Reuters

September 28, 2024 at 12:00:01 PM

FILE PHOTO: A felled tree is seen in the middle of a deforested area of the Yari plains, in Caqueta, Colombia March 3, 2021. REUTERS/Luisa Gonzalez/File Photo

BOGOTA (Reuters) -Colombia has launched a new investment portfolio to help it transition away from fossil fuels and adapt to climate change, which it hopes will attract some $40 billion, an environment ministry spokesperson confirmed on Friday.

The portfolio will help fund eco-tourism, a fair energy transition and conservation and restoration of ecosystems, the ministry said in a statement on Thursday, where it initially announced an incorrect potential figure of $40 million, before correcting the figure on Friday.

"Colombia is leading the discussion on how to carry out a truly fair climate and energy transition. We're on the way to consolidating a donor group that will allow us to achieve an important financial package for the country," Environment Minister Susana Muhamad said in New York on Thursday.

Colombia will host the COP16 United Nations biodiversity conference in Cali at the end of October.

(Reporting by Oliver Griffin)

Reuters

News Agency

Reuters is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world.