Colombia's president, Gustavo Petro, has warned that a 'suicidal' model of capitalism is driving the world towards war, fascism and the potential extinction of humanity. Speaking at a summit of 57 countries focused on green energy transition, Petro criticised fossil fuel interests for resisting change. 'There is inertia in the power and the economy of this archaic form of energy – fossil fuels – that lead to death,' he said. 'Undoubtedly, that form of capital can commit suicide, taking with it humanity and other life.'
The summit, held in the coastal city of Santa Marta, is the world's first conference dedicated to transitioning away from fossil fuels. Two days of talks among government ministers and high-level officials began on Tuesday, following four days of civil society discussions and academic workshops. Petro, Colombia's first leftist president, is barred by the constitution from seeking a second consecutive term, and Colombians will vote for a new leader next month.
Some countries have already begun drafting roadmaps to phase out fossil fuels. Colombia published its draft plan last week, and on Tuesday France became the first developed country to release a national roadmap, including a timetable to remove coal from its national grid by 2027, end oil dependency by 2045 and fossil gas by 2050. French climate envoy Benoit Faraco said the plan goes further than the country's Paris agreement commitments, adding: 'We want to be the electricity Saudi Arabia of Europe, selling green electrons to the UK, Ireland, Germany and other countries.'
A key message from developing countries and finance experts at the summit was that addressing debt must be central to any global climate action platform. Tzeporah Berman, founder of the Fossil Fuel Treaty Initiative, said: 'There are many fossil-fuel producing countries in the global south that are being pushed into expanding fossil fuel production just to feed their debt.' She noted that debt in Africa alone has doubled in the last five years to over $1tn, with rising interest rates and soaring fuel and food prices adding to the burden.
Susana Muhamad, a former Colombian environment minister and now special envoy for the Fossil Fuel Treaty Initiative, said countries struggling with debt payments cannot afford imports like medicines, fertilisers and technology without fossil fuel revenues. 'It's a problem of the economic dependency of the countries on fiscal income, but also the balance of trade, to be able to sustain their economies,' she said. Several civil society activists called for debt forgiveness, with Lidy Nacpil of the Asian Peoples' Movement on Debt and Development welcoming the stance of delegates who acknowledged that a just transition is impossible while global south nations remain shackled by predatory debts.
