SANTA MARTA, COLOMBIA (April 29, 2026) — More than 50 governments gathered in a high-level conference in Santa Marta, Colombia concluding today. The First Conference on Transitioning Away from Fossil Fuels marked the formation of a new coalition of frontrunner nations to work together to accelerate clean energy deployment and phase out coal, oil and gas.Held amid the global energy market crisis prompted by the outbreak of war on Iran, the meeting included representatives from major economies, fossil fuel-producing nations and low- and middle-income countries, as well as researchers, Indigenous Peoples, finance experts and academia. National and subnational governments examined policy and financial mechanisms to expand clean energy in emerging economies and manage the economic impacts on workers and communities. The meeting is an important milestone ahead of the upcoming COP31 UN climate summit in Turkey.The following is a statement from Nick Robins, Senior Director, Finance and Private Sector, World Resources Institute:’In a historic first, more than 50 governments convened in Santa Marta, Colombia to chart a future beyond fossil fuels and accelerate the shift to a clean energy system. The resounding message from participating countries was that fossil fuels are a systemic source of economic and financial instability, undermining health and driving catastrophic climate damage.’Santa Marta delivered a new way of making climate progress by bringing together a group of nations from both the Global North and the Global South, from the major economies of the G20 and the most vulnerable small island states. What unites these front-running nations is the willpower to work through the tough and necessary imperative of transforming the global energy system together.’The gathering offered a grounded and hopeful response to the continuing energy shocks. Over 130 countries worldwide have introduced emergency measures in recent weeks. Countries examined how the crisis response can accelerate the shift to a clean, cheap, and—crucially—stable energy system and how to avoid locking in deeper fossil fuel dependence. Since the crisis began, many solutions are already scaling, with growing uptake of solar panels and electric vehicles. Cooperation between the Santa Marta countries can help this go further and make it more inclusive.’At the meeting, governments focused on expanding clean energy access, reducing dependence on fossil fuels and sharing lessons on delivering just transitions that create good jobs and prosperous communities.’Overcoming financing gaps was a central theme. Governments and financial experts focused on reducing the cost of capital, expanding concessional finance from multilateral development banks and increasing flows of long-term private capital. The driving desire to rebuild stability has led to a new focus on the positive role that central banks can play in enabling the transition through monetary and prudential policy.’Here, WRI co-chaired the central bank workstream of a major Science and Policy forum that brought together over 400 researchers to provide a strong evidence base of proposals for governments, the Santa Marta Action Repertoire. Current and former central bankers from Brazil, Chile, Colombia, the European Union, Spain, Trinidad and Tobago and Uruguay took part along with academics, policymakers and civil society. A new Santa Marta Transition and Financial Stability Group has been launched by WRI and LINGO to create a community of practice for research, dialogue and policy action.’The Science Panel on the Global Energy Transition unveiled in Santa Marta should also prove valuable by cutting through a mountain of data and competing models to offer decision-makers clear transition pathways that are practical to implement.’Looking ahead, the focus of the coalition forged in Santa Marta will be on implementation back at home. One practical way this can happen is for countries to draw up their own national roadmaps to transition away from fossil fuels, following in the footsteps of both France and Colombia.’The Santa Marta meeting will undoubtedly inspire action more broadly, not least to galvanize more countries to act and will boost the UN climate negotiations. Brazil, as the president of last year’s COP30 climate summit, took part at Santa Marta and has led the way by opening up a dialogue for a global roadmap to a fossil-free future within the UNFCCC. In the run-up to the COP31 summit in Turkey, a focus will be on translating this momentum into stronger cooperation on scaling up clean energy and phasing out fossil fuels in an inclusive and orderly way. The next meeting of the Santa Marta coalition of the willing is set to be in Tuvalu in early 2027.’