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60 Governments Convene in Colombia on Fossil Fuel Transition Strategies as Israel-Iran War Drives Energy Price Surge
Around 60 governments, including Brazil, Germany, Canada and Nigeria, are convening in Santa Marta, Colombia, starting Tuesday for the first international meeting on practical steps to phase out fossil fuels. The discussions focus on financial, regulatory and planning tools amid global market disruptions from the U.S.-Israeli war with Iran.
Apr 27, 10:57 PM·1m read2 sources
The Japan TimesAudio version
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-Israeli war with Iran upends global oil and gas markets and sends prices soaring. The meeting of ministers and officials will take place in Santa Marta, Colombia, starting on Tuesday. The gathering will focus on practical steps to shift economies away from fossil fuels.
N. climate summits. "We're not negotiating ambitions, we're not negotiating commitments. This really is about sharing how you do this," said Stientje van Veldhoven, climate minister for the Netherlands.
The Netherlands is co-organizing the meeting with Colombia. Governments will discuss financial instruments, regulatory incentives, and planning instruments needed to kickstart a phase-out of fossil fuels. Talks will address how to create investment conditions for industries to switch from gas to electricity.
Talks will also address how to reform fossil fuel subsidies. The Japan Times reported these details from the planned discussions. U.S. are absent from the meeting. U.S. are the world's top two polluters.
Saudi Arabia and other major Middle Eastern oil and gas producers are not attending the meeting. Asian economies have been hit by fuel shortages due to the Iran war. European countries are facing surging energy costs due to the Iran war.
The Japan Times reported that the war has exposed many countries' heavy dependency on oil and gas imports. Countries agreed to transition away from fossil fuels at the COP28 climate summit in 2023. Subsequent COP meetings after 2023 have done little to advance the pledge to transition away from fossil fuels.
