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 • September 18, 2019
We are delighted to report the success of our workshop “Non-timber forest products (NTFPs): prosperity through our wealth of biodiversity”, which took place on the 12th of September 2019 with the participation of more than 180 people in city of Villavicencio, located in the Colombian Eastern Plains. The Global Green Growth Institute (GGGI) successfully led […]
News • November 15, 2019
On October 8, 2019, the GGGI team successfully delivered the results of the Green Growth Potential Assessment (GGPA) for the Colombian Department of Nariño. The results, published in a comprehensive report, were presented in the Forum: “Challenges and opportunities for green growth and forest conservation,” an event co-organized by GGGI, the Norwegian Embassy, and three regional […]
News • January 31, 2020
Nariño, December 19 – The session aimed to socialize the results of the “Nature-Based Tourism Strategic Plan for Nariño” developed by SMA Tourism. The strategy seeks to strengthen nature-based tourism as a green growth sector in the region making sustainable use of its biodiversity and beautiful landscapes, promoting social inclusion and economic development. The event […]