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A coalition of 57 countries representing roughly one-third of global GDP has agreed on an action-oriented roadmap to accelerate the transition away from fossil fuels, marking a shift from target-setting to implementation following commitments made under the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement.
The outcomes, released at the end of the first global conference on transitioning away from fossil fuels (TAFF) co-hosted by Colombia and the Netherlands between April 24 and 29, 2026, underline that while momentum is building, with renewable energy capacity in 2025 nearly 50 per cent higher than in 2023, structural economic and financial barriers continue to slow progress. Fossil fuels still account for over 75 per cent of global greenhouse gas emissions, even as annual global energy transition investments reached a record $2.4 trillion in 2024, more than doubling since 2019, according to data from the International Renewable Energy Agency.
Unlike previous climate gatherings, the Santa Marta conference focused explicitly on execution. Participants emphasised that TAFF is not merely a technological shift but a “broad economic transformation” requiring changes in fiscal systems, trade structures and labour markets.
The urgency has been reinforced by geopolitical disruptions, including tensions in the Strait of Hormuz, a strategic maritime bottleneck through which nearly one-fifth of the world’s oil supply flows daily, which exposed the vulnerability of fossil fuel-dependent energy systems—75 per cent of countries remain reliant on imports.
1. Institutional continuity: Countries agreed to convene a second conference in 2027, to be co-hosted by Tuvalu and Ireland, establishing a formal review cycle to track implementation and sustain political momentum.
2. New coordination architecture: A coordination group will be set up to align existing initiatives and avoid duplication. It will bring together country coalitions, conference co-hosts, and initiatives working on different aspects of the transition, while linking the 30th Conference of Parties to the UNFCCC or COP30 processes.
3. Integration with global climate processes: The conference outcomes will feed into the COP30 Presidency roadmap, be shared at intersessional meetings of the UN climate body in Bonn and contribute to the second Global Stocktake under the Paris Agreement.
4. Launch of three implementation workstreams: To translate commitments into action, countries agreed on three collaborative tracks:
· Transition roadmaps: Supporting countries in developing science-based pathways aligned with their Nationally Determined Contributions (NDCs), in partnership with the NDC Partnership and a newly launched science panel.
· Finance and macroeconomic reform: Addressing systemic barriers such as debt constraints, fossil fuel-linked financial systems, and the need to unlock large-scale investment through reforms in global financial architecture.
· Producer–consumer alignment: Coordinating fossil fuel producers and consumers to manage a planned phase-down, reduce trade imbalances, and avoid stranded assets while enabling a fossil fuel–free trade system.
5. Science-led transition: A Science Panel for the Global Energy Transition was launched to guide countries with evidence-based pathways aligned with the 1.5°C target and help dismantle legal, financial and political barriers to implementation.
Despite growing momentum, the conference underscored persistent constraints. Many countries remain fiscally dependent on fossil fuel revenues, face debt pressures, and lack access to affordable finance. Current investment flows are heavily concentrated in advanced economies and China, leaving developing countries behind.
Participants highlighted the need for reforms such as debt-for-climate swaps, restructuring fossil fuel subsidies, and expanding concessional and non-debt-creating finance.
The transition also raises complex labour and social challenges. Governments were urged to design “just transition” strategies that include worker participation, protect livelihoods, and support region-specific economic diversification.
On the demand side, countries emphasised electrification, energy efficiency and fuel switching across sectors, from transport and industry to agriculture and buildings. On the supply side, the focus is on a “managed decline” of fossil fuel extraction through long-term planning, closure strategies and alignment with falling demand.
Fossil fuel subsidies and misaligned financial incentives were identified as major barriers, with calls for greater transparency, targeted support for vulnerable groups, and expanded carbon pricing mechanisms.
At the same time, expanding energy access remains central. Participants stressed that decentralised renewable systems, including mini-grids and off-grid solutions, are critical to delivering affordable energy to rural and underserved communities.
A key takeaway from the conference is that national efforts alone will not suffice. Participants called for stronger multilateral coordination, better alignment of trade and financial systems with climate goals, and enhanced cooperation between fossil fuel producers and consumers.
Finance emerged as both a critical enabler and a major constraint, with high costs of capital, limited concessional finance and debt burdens slowing implementation, particularly in developing economies.
The Santa Marta conference was officially announced in November 2025 during the 30th Conference of Parties to UNFCCC or COP30 after the final summit text omitted references to fossil fuels, prompting what organisers described as a “coalition of the willing” to create a new platform focused on phase-out efforts.
COP30 President Andre Correa do Lago had announced plans to develop two science-led, inclusive roadmaps: one of two is on TAFF in a just, orderly and equitable manner. These processes would convene governments (both producers and consumers), international organisations, industry, labour, academia, and civil society and the effort would draw on the first international conference on the phase-out of fossil fuels, to be held in April in Colombia, he said.
At COP30 in Belém in November 2025, countries had pushed to translate the COP28 mandate into actionable, sector-specific phase-out plans, despite final text shortcomings. A 24-country coalition issued the “Belém Declaration on the Just Transition Away from Fossil Fuels” to sustain momentum, aiming for a “fair, well-planned” transition. The focus shifted to curbing the $7.63 trillion in global fossil fuel subsidies.
The conference sought to build a global coalition to phase out oil, gas and coal while advancing efforts initiated under the COP30 presidency to create a transition roadmap.
Creating a roadmap for transitioning away from fossil fuels is essential because it turns broad climate goals under the Paris Agreement into clear, time-bound action. It lays out sector-wise pathways, policies and timelines, helping governments move from commitments to implementation.
It also provides certainty for investment and policy, guiding capital toward clean energy while avoiding long-term lock-in of fossil fuel assets. At the same time, a roadmap helps manage economic and social impacts by enabling gradual phase-downs, protecting jobs, and supporting diversification.
Crucially, it ensures energy security and system stability by coordinating supply (renewables, grids) and demand (electrification), while enabling better global coordination between producers and consumers. With defined milestones, it also strengthens accountability under frameworks like the UNFCCC.