Colombia's Bold $40 Billion Green Transition

Colombia has unveiled a new $40 billion investment portfolio aimed at reducing reliance on fossil fuels and addressing climate change. The initiative will fund eco-tourism, fair energy transitions, and ecosystem conservation and restoration. The Environment Ministry clarified the investment amount after initially misstating it as $40 million.

Colombia has rolled out an ambitious $40 billion investment portfolio to pivot away from fossil fuels and tackle climate change, an Environment Ministry spokesperson confirmed on Friday.

The funds will be allocated towards eco-tourism, a fair energy transition, and the conservation and restoration of ecosystems, according to a Ministry statement on Thursday. Initial reports had incorrectly cited the portfolio value as $40 million, a figure that was corrected on Friday.

The initiative represents a significant step in Colombia's efforts to achieve a sustainable future while attracting substantial external investment.

(With inputs from agencies.)