International Meeting in Colombia to Address Fossil Fuel Phase-Out Amid Rising Oil Prices
A significant international meeting is set to take place in Santa Marta, Colombia, where around 60 governments, including those from Brazil, Germany, Canada, and Nigeria, will discuss strategies to phase out fossil fuels. This meeting comes in the wake of the Iran war, which has disrupted global oil and gas markets, leading to soaring prices. The focus of the gathering is on practical steps to transition economies away from fossil fuels, rather than setting new global targets. The meeting is co-organized by the Netherlands and Colombia, with discussions centered on financial instruments, regulatory incentives, and planning tools necessary for a successful phase-out. Notably, major polluters like China and the US, as well as key oil producers such as Saudi Arabia, are not participating. 
