ESG & Investing
Colombia Races for US Climate Funds But Has China as Back Up
- Colombia climate minister to visit Washington in coming weeks
- Countries are racing to get funding commitments before Trump
The Empresas Publicas de Medellin Jepirachi wind farm in Media Luna, La Guajira department, Colombia.
Photographer: Fernanda Pineda/BloombergThis article is for subscribers only.
Colombia is hurrying to land a deal with the US that would unlock the first tranches of cash for a $40 billion climate investment plan before Donald Trump takes office. If that push fails, then China could be an option.
Susana Muhamad, Colombia’s climate minister, said she would go to Washington in the coming weeks to try and secure initial finance for an ambitious strategy to overhaul her country’s fossil fuel-based economy in favor of green investments. The outlook for the deal is now more complicated that Trump won this month’s election, she said.