Yes, reducing emissions and generating economic and social benefits in Colombia is possible!

Imagine waking up in any Colombian city in the mid-century, let’s say the year 2045, with access to 100% renewable energy for a warm shower and having breakfast with coffee from sustainable and low-carbon crops. Think of people heading to work riding an electric or regular bicycle – more affordable and faster – without worrying about traffic or air pollution. Picture cities built on green infrastructure, managing and reusing all waste -organic waste for fertilizers and energy generation and recycling other high-value materials for the economy. This scenario could be a reality if public-private efforts align towards a decarbonization model, offering considerable benefits such as improved public health indicators, increased productivity, boosting new business opportunities for the private sector, and contributing to climate change mitigation.

Colombia and eleven other countries in the region have committed to achieving carbon neutrality by 2050 through a strategy called E-2050. However, considerable efforts are required to accomplish these targets. Decarbonization can provide cheaper electricity and transportation for citizens, leading to savings for households and businesses. A study by the IDB, in collaboration with the University of the Andes, assesses the cost and benefits of various sectoral transformation scenarios that could help Colombia achieve carbon neutrality by 2050. Although the study does not offer an exact recipe of measures, it provides recommendations and analyses for long-term climate goals.

Sustainable Foods of Higher Quality and Forest Protection

The agricultural sector can contribute to decarbonization by introducing models based on sustainable and intensified farming for cattle, increasing reforestation and forest conservation, and promoting sustainable consumption of meat products. According to our study, this could reduce 154 million tons of CO₂ by 2050, equivalent to the emissions of approximately 24,000 long-haul flights on commercial planes, with benefits ranging from 35 to 105 billion dollars (depending on the discount rate). Increased crop productivity and reduced greenhouse gas emissions would prevent further environmental damage.

Cheaper and Zero-Emissions Electricity

Efforts in energy efficiency and electricity generation from renewable sources, green hydrogen production, and advancements in energy storage can lead to economic savings while generating fewer CO₂ emissions. The IDB study indicates Colombia could transform its energy demand and supply, resulting in net economic benefits. It may not necessarily require increased investments but rather a reevaluation of public spending and redirection. Savings of around 47 billion dollars could be achieved, and innovative approaches like “prosumers,” including households and buildings as consumers and electricity suppliers, could be implemented.

Sustainable  Transportation

In the transportation sector, a decarbonization scenario suggests that at least 40% of passenger transportation demand could be covered by trains, subways, buses, and light vehicles, resulting in a 99% reduction in greenhouse gas emissions (GHG) by 2050. This scenario would not only contribute to climate change mitigation but also would have a positive impact on people’s health and quality of life. Reducing congestion and accidents, improving air quality, and promoting physical activity could generate social benefits ranging from 58 to 69 billion dollars. Additionally, between 2020 and 2050, savings between 133 and 574 billion dollars would be expected.

Waste Treatment to Reduce Emissions and Improve Quality of Life

Proper municipal solid waste and industrial wastewater management could reduce Colombia’s emissions by 83%. However, a significant challenge is the need for suitable waste separation and collection mechanisms, hindering material reuse and emission reduction. Implementing waste treatment technologies could lead to a concept of biorefineries, producing items such as fertilizers, biogas for energy production, fuels, plastics, synthetic materials, and inputs for the chemical industry. Apart from economic benefits, these technologies would improve material efficiency, reduce environmental impact, and enhance human health.

Decarbonization Towards a Sustainable Future

To achieve decarbonization in Colombia across these four sectors, a redistribution of investments oriented towards this transition and collaboration between the public and private sectors is required. Decarbonization in these sectors would reduce GHG emissions and bring economic and social benefits that enhance the quality of life for Colombian people.

We recommend downloading the report here if you want to learn more about how Colombia could achieve carbon neutrality by 2050.

This report was developed in collaboration with the University of the Andes in Colombia. “Análisis costo-beneficio de las opciones para alcanzar cero emisiones netas para informar la estrategia a largo plazo de Colombia E2050Centro de Objetivos de Desarrollo Sostenible Universidad de los Andes, 2021, https://cods.uniandes.edu.co/analisis-costo-beneficio-de-las-opciones-para-alcanzar-cero-emisiones-netas-para-informar-la-estrategia-a-largo-plazo-de-colombia-e2050/.