Energy Advisor

Carlos St. James, member of the Advisory Committee of the Latin American and Caribbean Council on Renewable Energy (LAC-CORE): “At first glance, Colombia’s proposed bill seems a bold reach toward environmental commitments. It’s the kind of thing that makes investors look kindly toward an emerging economy and makes its president seem to be a new global leader. But it would look better if the bill didn’t include the word ‘expropriation,’ which immediately scares off those same investors, and if it didn’t come across as melodramatic by banning all coal contracts and exploration. Colombia is the world’s fifth-largest coal exporter (oddly enough most of it going to Europe these days because of its shortage of natural gas). It generates a lot of hard currency: coal generated over $1 billion in exports in 2023, and the sector is among the most important for the…”