El papel del sector financiero en un escenario de eliminación gradual del carbón

The document examines the Colombian financial sector's integration of climate change into decision-making, highlighting that while some green finance initiatives exist, most private flows remain inconsistent with a low-carbon economy. It identifies significant risks of 'stranded assets' in Colombia's coal mining and power sectors, citing the cases of Prodeco and Cerrejón. The brief argues that financial institutions must move beyond symbolic commitments to tangible phase-out plans and provides examples of international banking policies that restrict coal financing to guide the Colombian sector toward a just transition.

• Climate change has only been initially incorporated into the decision-making processes of the Colombian financial sector, serving as both a risk factor and a source of opportunity.
• Institutional investors in Colombia are indirectly investing in global coal companies through international exchange-traded funds (ETFs) such as iShares; for instance, one Colombian pension fund had invested 82.4 million dollars in the iShares Core MSCI EM IMI UCITS ETF as of November 2020.
• There are market indicators suggesting that coal assets in Colombia's mining and energy generation sectors could become stranded assets before 2030, evidenced by Prodeco's decision to close its operations and the international shareholders of Cerrejón announcing the sale of their coal assets.
• To meet the mitigation goals defined in the 2015 Nationally Determined Contribution (NDC), Colombia requires an annual investment between 0.65% and 0.87% of its GDP, approximately 2.8 billion to 4.5 billion dollars per year until 2030.
• The Colombian financial sector's current green finance efforts are limited; for example, green loan portfolios represent only 0.55% of the banking system's total credit portfolio, and green bonds accounted for 6.4% of total emissions in 2020.
• Financial institutions must transition from symbolic commitments and carbon footprint measurements to executable plans for climate mitigation and adaptation, as disclosure and risk assessment alone are insufficient.

APA

Barcha, J. U., Walker, F. B., Limas, A. P., Puerto, L., Sanmiguel, V., & Restrepo, G. P. (2021). El papel del sector financiero en un escenario de eliminación gradual del carbón. Transforma. https://transforma.global/wp-content/uploads/2025/05/21.05-Documento-2-2-Sector-Financiero.pdf

Chicago

Barcha, Juan Uribe, Felipe Bonilla Walker, Andrea Perez Limas, Lina Puerto, Valentina Sanmiguel, and Giovanni Pabón Restrepo. El papel del sector financiero en un escenario de eliminación gradual del carbón. Transforma, 2021. https://transforma.global/wp-content/uploads/2025/05/21.05-Documento-2-2-Sector-Financiero.pdf.

Wikipedia

{{cite report |last1=Barcha |first1=Juan Uribe |last2=Walker |first2=Felipe Bonilla |last3=Limas |first3=Andrea Perez |last4=Puerto |first4=Lina |last5=Sanmiguel |first5=Valentina |last6=Restrepo |first6=Giovanni Pabón |title=El papel del sector financiero en un escenario de eliminación gradual del carbón |publisher=Transforma |date=2021 |url=https://transforma.global/wp-content/uploads/2025/05/21.05-Documento-2-2-Sector-Financiero.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{barcha2021papel, author = {Barcha, Juan Uribe and Walker, Felipe Bonilla and Limas, Andrea Perez and Puerto, Lina and Sanmiguel, Valentina and Restrepo, Giovanni Pabón}, title = {{El papel del sector financiero en un escenario de eliminación gradual del carbón}}, institution = {Transforma}, year = {2021}, url = {https://transforma.global/wp-content/uploads/2025/05/21.05-Documento-2-2-Sector-Financiero.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }