"UN Special Envoy Michael Bloomberg Joins Forces with Bancolombia and BBVA to Launch CFLI Colombia in Support of Colombia’s Climate Goals", 04 April 2022

...UN Special Envoy Michael R. Bloomberg today announced a new initiative co-chaired by Bancolombia and BBVA that will convene the private finance sector to support transformational climate action in Colombia. CFLI Colombia is the first Latin American CFLI Country Pilot, a program that enables a private-sector led and country-specific approach to mobilizing climate finance at scale. The CFLI Country Pilots are designed to identify and accelerate both financial and policy solutions to move capital into sectors and activities that are critical to achieving a low-carbon, climate resilient economy.

CFLI Colombia will engage with the Colombian public sector, multilateral development banks, and the private sector to catalyze private investment into climate solutions to support the transition of Colombia’s economy. It will support both Colombia’s long-term development and its Nationally Determined Contribution (NDC) under the Paris Agreement, which includes a commitment to reduce greenhouse gas emissions by 51% by 2030 and achieve carbon neutrality by 2050...

“This initiative can help Colombia accelerate its transition to clean energy, and adapt to climate change, by knocking down barriers to investment and aligning financing around important projects. It will also help to create a blueprint for other countries in the region to speed up their progress,” – Michael R. Bloomberg, UN Special Envoy on Climate Ambition and Solutions, Chair, Climate Finance Leadership Initiative...

“This partnership is a huge step forward for Colombia and hopefully a template for the rest of the world to follow. Unlocking private capital is key for the developing world to transition to net-zero.”... – Vincent Keaveny, Lord Mayor of the City of London...