Colombia moves to revoke carbon market rules issued under Former President Petro

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🗞️ Driving the news: Colombia’s Environment Ministry plans to revoke Decree 973 of 2026, which established new rules for the country’s carbon market shortly before former President Gustavo Petro left office
• The government cited procedural shortcomings and plans to replace the decree with a broader regulatory framework.

🔭 The context: The ministry says the Finance Ministry was not involved in areas within its remit, some agency opinions were still pending, and significant changes to the final text were not put back out for public consultation
• Environment Minister Fabio Arjona says the replacement framework will involve communities, territorial authorities, companies and government agencies, while strengthening the Renare greenhouse-gas emissions registry

🌍 Why it matters for the planet: A stable and credible carbon-market framework can influence investment in emissions reductions, conservation and carbon-removal projects
• Regulatory uncertainty, however, can affect the willingness of private investors to finance projects whose revenues depend on carbon credits

⏭️ What’s next: The ministry says existing rules will remain in force while a replacement is developed, with a new version of Renare expected within three months
• Industry representatives have warned that additional government approvals could raise project costs and discourage foreign investment

💬 One quote: Arjona said the government wants to build a stronger emissions registry and rules that can “encourage private capital to support conservation and emissions reductions.”

📈 One stat: The previous decree allowed some emissions-reduction projects to operate for up to 15 years, and carbon-removal projects for up to 40 years

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