LatinNews Daily - 10 November 2022

* Colombia’s mining and energy minister, Irene Vélez, has provided some further details on Colombia’s planned transition away from hydrocarbons under President Gustavo Petro. Speaking at the COP27 climate conference in Egypt, Vélez said that the government is planning “a transition towards a productive economy, which has renewable energies as a pillar”. She said that the Petro administration’s plan will be “different because it prioritises a social focus, allowing the participation, as co-owners, of communities and users in the new initiative”. She added that weekly dialogue sessions will soon be launched in rural areas in order to ensure community involvement. In his own COP27 speech on 7 November, Petro called for private lenders to stop financing fossil fuel initiatives and said that Colombia will commit US$200m annually over the next two decades to help conserve the Amazon rainforest.

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