Colombia

Main findings

2050 projections of power and industrial high temperature heating sectors:

• Projected no-action emissions based on current energy mix: 51.7 MtCO2e /year+

• Maximum mitigation potential: 51.7 MtCO2e /year

• Most important needle-mover are onshore wind and ammonia storage.

• Average cost of achieving zero emissions with only domestic measures is USD 26.5/tCO2e (shown as a negative “additional cost”) compared to BAU no action scenario.

• In international collaboration, onshore wind is a key element for reducing system costs. Ammonia storage also plays a significant role, providing flexibility in reducing reliance on costlier domestic resources.§

+Emissions are the annualized value for a 30-year project starting in 2050 (i.e., divided by 30 from the total project emissions)

§A negative value for cost of achieving net zero in collaboration configurations implies that BAU-No Action scenario for the set of countries assuming current energy mix leads to a more expensive system than when investing in zero-carbon power generation for those countries. Please see Country-specific notes on Methodology - National and Collaboration Modelling (STEVFNs) section below for detailed information on assumptions leading to this result.