CFLI Colombia
We’re helping to accelerate climate finance flows in Colombia and build bankable pipelines that facilitate climate solutions at scale.
Colombia has some of the highest renewable energy potential in Latin America and has seen rapid growth in clean energy and other low carbon sectors in the last decade. On top of that, the country is committed under the Paris Agreement to reduce its greenhouse gas emissions by 51% by 2030 and reach carbon neutrality by 2050.
According to BloombergNEF, Colombia reached $785 million in new investment flows towards clean energy in 2021. This year, the country is expected to kick off a multi-year renewable energy boom that will increase its wind and solar capacity by a factor of 13 from 2021 levels (353MW) in the next four years. Even so, Colombia will need substantially more investment to meet its 2030 emissions reduction targets. Private capital will play a pivotal role in realizing these objectives.
Colombia utility-scale wind and solar annual additions and forecast
Our work
CFLI Colombia will bring together leading public, private, and multilateral institutions to strengthen local enabling environments and expand pipelines of bankable climate solutions. We aim to ensure that the Colombian market is not only positioned to act on near-term opportunities when scaling sustainable infrastructure and mature low-emissions technologies, but is also prepared for long-term opportunities in emerging technologies, nature-based solutions, and hard-to-abate sectors.
We’re doing this in two complementary ways:
- Engaging with the Government of Colombia and the multilateral community to strengthen the enabling environment for private capital
- Partnering with local stakeholders to mobilize capital through existing or new financing vehicles tailored to market needs
Our work is designed to further accelerate domestic and international investment into Colombia’s low-carbon transition, opening access to rapidly growing offshore pools of sustainable capital.
Program launch: April 2022
Co-chairs:
- Juan Carlos Mora Uribe, Chief Executive Office, Bancolombia
- Mario Pardo Bayona, Chief Executive Officer, BBVA Colombia
Sectors of focus:
- Low-Carbon Transportation
- Sustainable Infrastructure
- Nature, Resilience, and Adaptation
- Renewable Alternatives
“By driving more capital into sustainable investments, CFLI Colombia can accelerate the country’s climate progress – and create a model for nations across Central and South America to follow. We’re looking forward to working with President Petro and his administration on this important initiative.”
– Michael R. Bloomberg, UN Special Envoy on Climate Ambition and Solutions, Chair, Climate Finance Leadership Initiative
CFLI Colombia Members
CFLI Colombia’s members are financial institutions and corporates who are leaders in climate finance, clean energy, and sustainable infrastructure.
For more information about CFLI Country Pilots, contact the CFLI Secretariat.