In Colombia, NCE is working to secure a just transition towards a low carbon economy. Within the framework of the government to decarbonize the economy and achieve a 51% reduction of GHG by 2030, NCE supports this goal through technical analyses, including with the Green Economy Model (GEM), that assess a range of socio-economic benefits as well as potential obstacles to a transition. NCE and WRI teams worked together with the Colombian Long-Term Strategy team to support the elaboration process of the LTS Estrategia 2050 (E2050) report and NCE analysis was included in the final version of the LTS launched at COP26.
The team also worked with the National Department of Planning (DNP), the Colombian Ministry of Finance and other partners to create a general framework on Stranded Assets in Colombia. For this framework, NCE and DNP used two Colombian energy companies as case studies to analyze the risk of stranded assets.. Additionally, NCE also analyzed the impact that Voluntary Agreements with the private sector would have on GHG emission reductions, in particular the reduction of black carbon. Finally, NCE performed a spatial analysis of the Colombian Amazon to understand the value of externalities and ecosystems benefits of a low carbon, green transition.
The team is also engaged with the Ministry of Environment and Sustainable Development (MADS). Under the Climate Action Enhancement Package (CAEP) Initiative, NCE and WRI supported the MADS in the formulation process of the Colombian Strategy for a Low Carbon, Adapted and Climate Resilience Development (ECDBCAR). The Strategy aims to accelerate the implementation of the NDC through the strengthening of the institutional management for climate action from public policy. In 2022, NCE supported MADS on building modelling structures for methane and black carbon to help the government better understand avenues to reach CH4 and black carbon targets in the context of NDCs and E2050, along with associated impacts.
Currently, the team is working with the Ministry of Mines and Energy (MinEnergy) to identify climate adaptation measures for the energy sector. The electricity generation in Colombia is mainly through hydropower, and although it is a sustainable source, electricity production is highly vulnerable to extreme climate events such as droughts. Through nature-based Solutions and nature-based adaptation, the team is working to enhance climate adaptation in hydropower plants in the country and modelling the economic and social benefits of these measures.