Colombia is among world leaders in energy transition: BloombergNEF

21 Diciembre 2022
The country ranked fourth in 107 emerging markets and 29 developed nations. And it is among the 20 most sought-after destinations for investors in the sector in the world

Last month, within the framework of the COP27 conference in Egypt, BloombergNEF, with its Climatescope tool, presented a study that tracks the energy transition processes in the world. Colombia is in the top 5 nations leading in this area, preceded by Chile, India, and China. In the region, it is in second place behind the southern country.

The study highlights that this is the first time Colombia ranks among the leaders in this area. State policies on clean energy and incentives reflect the jump of nine positions, from 13th place in the previous year's measurement to fourth place in 2022.

The report also highlights the potential for investment in the country's wind and solar sectors, segments in which President Gustavo Petro supports their growth as pillars of the transition to clean energy and as part of his administration's flagship programs.


"The energy transition in Colombia is going full steam ahead, and within the Roadmap for the Just Energy Transition led by the Ministry of Mines and Energy, foreign investment will play a fundamental role specifically in the generation of renewable energy, which adds to the efforts for the transformation of Colombia with environmental, economic and social justice promoted by the government of President Gustavo Petro," said Carmen Caballero, president of ProColombia.

According to BloombergNEF's analysis, Chile, Colombia, Brazil, and Peru are the most attractive countries for investment in renewable energies in Latin America and are also among the 20 most sought-after by investors in the sector worldwide.


Colombia in the Climate Change Performance Index 2023

The country also participates in the Climate Change Performance Index 2023m - CCPI, developed by the NewClimate Institute and the Climate Action Network of Germany.

Colombia, Egypt, and the Philippines score the best in the energy efficiency indicator, while nations such as Canada, Kazakhstan, and Finland occupy the last positions.

The report notes that the CICC experts welcome Colombia's growing political interest in climate change and highlight President Petro's government plan to transition to a diversified economy based on renewable energy.

On the other hand, according to the Energy Transition Index (ETI) of the World Economic Forum, Colombia is the third country in the region that is making the most progress in this area, with 65.93%. The National Government is progressing in constructing a strategy for the gradual transition from fossil to renewable energies, with equity components to democratize access to power in the country.

ProColombia is actively promoting the recently launched sustainable investment attraction strategy to attract new renewable energy initiatives and projects from markets such as the United States, the United Kingdom, France, Spain, Germany, Canada, Chile, China, and Japan, among others.