At a Glance
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|Actual Budget (USD)||0|
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Colombia is a lower middle-income country with abundant natural resources and a growing population. In 2016, the Colombian government and the FARC rebel group reached a peace agreement that ended many decades of civil conflict, which the government expects will contribute to stronger economic prospects going forward. Still, many socioeconomic and political challenges remain, such as high levels of poverty, unemployment and underemployment, and rural energy access, among others.
Over the past several years, the Colombia government has passed a series of laws aimed at reducing GHG emissions, driving economic development, and providing increased energy access to rural areas. Law 1715/2014, known as the Renewable Energy Law, provides various incentives to encourage non-conventional renewable energy and energy efficiency investment. The Law focuses on RE integration into the electricity market and in non-interconnected zones (ZNI in Spanish). The Law establishes FENOGE as a financing vehicle to achieve these goals.
As established in Law 1753/2015, FENOGE will have an initial capitalization through a fractional tax per kWh on the wholesale energy market, called the Fondo de Apoyo Financiero para la Energización de las Zonas No Interconectadas (FAZNI) (English translation: Financial Support Fund for the Energization of Non-Interconnected Zones).
Building on 2015-2016 work
GGGI’s Country Planning Framework for Colombia identifies mainstreaming of green growth into national development policies and mobilizing sectoral green growth investments. In partnership with the National Planning Department (NPD), GGGI began the process of mainstreaming green growth into Colombia’s National Development Plan by supporting the inclusion of sector-specific green growth targets in the current National Development Plan 2014–2018, as well as following up on policies and investments to meet them. In 2016, GGGI supported NPD in the diagnosis and green growth potential assessment phase of a Green Growth Task Force, which brought together experts to assess priority issues and provide recommendations to be adopted in the Long-Term Green Growth policy during its formulation in 2017–2018.
The establishment of an National Financing Vehicle in Colombia for renewable energy and energy efficiency will lead to a significant reduction in GHG emissions, greater energy access in rural areas, and better quality of life for Colombia’s citizens. GGGI supported this by contributing to the following outputs:
- Finalize the decree that creates FENOGE as a legal entity;
- Finalize the FENOGE Operations Manual;
- Support the selection of the fiduciary agency that will administer FENOGE; and
- Prepare the FENOGE Business Plan.
News • December 8, 2020
GGGI and the Kingdom of Norway support territorial entities in the southern Colombian Amazon to achieve environmental sustainability criteria and territorial resilience
Mocoa, December 7, 2020 – The Corporation for the Sustainable Development of the Southern Amazon (CORPOAMAZONIA) with support from the Ministry of Environment and Sustainable Development (MADS), the Global Green Growth Institute (GGGI), and the Royal Embassy of Norway, held the virtual event, The Environmental Component in Land Management and Planning Instruments of the Southern […]
News • December 1, 2017
On November 28 – December 01, the second Annual Seminar on Forest Coverage Monitoring in Colombia was held in Bogotá, Colombia. This event was supported and funded by the Global Green Growth Institute (GGGI), UNREDD and the Amazon Vision program, among others. The event had the participation of national and international experts, besides having a […]
News • June 7, 2019
On May 24, President Duque signed off Law 1954, through which the Congress of Colombia approved the “Establishment Agreement of the Global Green Growth Institute in Colombia,” signed in Rio de Janeiro the 20th of June, 2012. With this step forward, the Republic of Colombia is one step closer to achieving GGGI’s membership status and […]