50+ countries met in Santa Marta to break the COP stalemate on fossil fuel transition, absent China, US, India, Saudi Arabia, and Russia.
Key Takeaways
COP28 agreed to “transition away from fossil fuels” in 2023; a phase-out road map at COP29 was dropped for lack of consensus.
Colombia and Netherlands convened this “coalition of the willing”; outcomes feed a report, not a binding agreement.
Brazil’s COP30 presidency targets a global road map by the UN General Assembly in September, ahead of COP31 in Turkey.
Iran war disruption is accelerating energy security arguments for renewables but also triggering short-term drilling and subsidy responses.
Colombia itself faces contradictions: host Petro halted new exploration while a domestic gas shortage grows and elections may flip policy rightward on May 31.
