Colombia's $40 Billion Eco-Investment for Climate Adaptation

Colombia has unveiled an ambitious $40 billion investment portfolio aimed at transitioning away from fossil fuels and tackling climate change. This initiative will fund eco-tourism, energy transition, and ecosystem restoration. Environment Minister Susana Muhamad confirmed the plans ahead of Colombia's hosting of COP16 in October.

Colombia has launched a groundbreaking $40 billion investment portfolio designed to transition the country away from fossil fuels and adapt to climate change, an environment ministry spokesperson confirmed on Friday.

The investment will support eco-tourism, a fair energy transition, and conservation and restoration of ecosystems. The ministry initially announced an incorrect figure of $40 million on Thursday, later correcting it to $40 billion. 'Colombia is leading the discussion on how to carry out a truly fair climate and energy transition. We're on the way to consolidating a donor group that will allow us to achieve an important financial package for the country,' Environment Minister Susana Muhamad stated in New York on Thursday.

Colombia is set to host the COP16 United Nations biodiversity conference in Cali at the end of October.

(With inputs from agencies.)