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The document provides a detailed analysis of Law 2099 of 2021, which aims to modernize Colombia's energy transition. It examines the expansion of public utility declarations for renewable energy projects, the modification of tax incentives to include hydrogen and geothermal energy, and the consolidation of energy funds into FONENERGÍA. The report highlights significant risks, including the promotion of 'blue hydrogen' from fossil fuels, the potential for environmental degradation due to streamlined licensing, and the risk of displacing populations lacking formal land titles. It also discusses the specific challenges of geothermal development in páramo ecosystems and the government's continued reliance on combustible gas as a transition bridge.

The We Mean Business Coalition presents a series of policy asks across key sectors—including energy, transport, industry, and the built environment—to align global economies with a 1.5°C trajectory. The document highlights existing corporate commitments, such as the 900+ companies aligning with 1.5°C targets, and calls for government action on carbon pricing, the elimination of fossil fuel subsidies, and the implementation of just transition plans. It emphasizes that a green recovery from COVID-19 can boost GDP and employment while addressing the climate and biodiversity crises.

The document argues that while global frameworks promote Nature-based Solutions (NbS), their implementation is stalled by institutional silos, regulatory ambiguity, and a lack of inclusive governance. It highlights specific gaps such as the preference for 'grey' infrastructure and the exclusion of Indigenous Peoples, while providing examples of successful coordination and legal innovations from countries like India, Costa Rica, and Peru.