Gustavo Petro, Colombia’s left-wing president, is spearheading a bold move to wean the nation off fossil fuels. His administration is proposing a bill that would halt all future coal exploitation, despite the potential impact on an industry which, along with oil, makes up almost half of the country’s exports.
Although Colombia is South America’s leading coal producer, the country would commit to legally halting new contracts for the fossil fuel — a giant leap toward decarbonization.
Since taking office in 2022, the 63-year-old president has prioritized reducing dependence on all fossil fuels, announcing a policy to refrain from awarding new oil, coal, and gas contracts during his term.
Now, Mr. Petro wants to go further, proposing legal measures to prevent future administrations from granting such licenses through the draft of a new mining law.
The bill is a thorough revamp of the nation’s mining policy, aiming to bring small-scale miners into the fold and formalize the sector, while also granting the government authority to expropriate mining assets under specific circumstances, signaling a significant shift in mining policy.
Spanning 219 articles, it crucially sets out to curb the expansion of coal mining, prioritizing existing contracts while putting new ones on hold. Its article 23 says regulators will “not adjudicate further exploration and exploitation of thermal...
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