IAHL Corporation (IAHL)

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Colombia's President Petro has high hopes for the oil-rich country's green transition, following up on climate pledges made during his 2022 electoral campaign. Petro made his stance clear at COP28, suggesting that he hopes to make Colombia one of the few oil majors to rapidly shift away from fossil fuels to renewable alternatives. Nevertheless, Colombia's oil industry is continuing to expand, with several projects planned for the mid-term. In addition, following the incongruent actions of Brazil's President Lula when it comes to climate pledges and the country's oil and gas industry, many wonder whether Petro will be able to stick to his climate pledges while also stimulating economic growth for the South American country.