To realise Colombia’s clean energy ambitions and enable the necessary mobilisation of finance and investment, the government has set forth a number of important policy strategies, including the 2018 Green Growth Policy, the 2019 National Circular Economy Strategy and the forthcoming 2022 Energy Transition Policy. These high-level policies all note the role clean energy solutions like sustainable bioenergy and waste-to-energy can play in supporting decarbonisation objectives. These solutions can also achieve a number of other socioeconomic ambitions, including improved reliability of energy supply, improved access to affordable and reliable energy in areas that are not connected to the national electricity grid, and reduced amounts of waste going to capacity-limited landfills. This report aims to support Colombia’s renewable energy ambitions, focusing on current clean energy trends, opportunities for bioenergy and measures that can increase finance and investment in those solutions. Through five case studies from Brazil, Chile, Colombia, India and Turkey, the report also considers the enabling environment and lessons learnt from bioenergy developments in different countries.
Green growth means achieving economic growth while reducing pollution and greenhouse gas emissions, minimising waste and improving efficiency in the use of natural resources. This requires long-term investment and sustained financing. Public budgets have traditionally been an important source of green infrastructure financing. But given the strains on public finances, large-scale private investment will be needed for the transition towards a green economy. Governments have a key role to play in strengthening domestic policy frameworks to catalyse and mobilise private finance and investment in support of green growth. It is necessary to better align and reform policies across the regulatory spectrum to overcome barriers to green investment, and to provide an enabling environment that can attract both domestic and international investment. This OECD series on Green Finance and Investment provides policy analysis and guidance to scale up financing and investment in technologies, infrastructure and companies that will be critical in the transition to a low-carbon, climate-resilient and resource-efficient economy.