- Colombia’s Environment Ministry plans to revoke Decree 973 of 2026, which established rules for the country’s carbon market.
- The government cited procedural issues and plans to develop a replacement framework with broader participation.
- Environment Minister Fabio Arjona wants to strengthen the national emissions registry and attract private investment.
Colombia’s government is moving to revoke regulations governing its carbon market, reopening a policy framework adopted only weeks ago under former President Gustavo Petro, local news website La Silla Vacía reported Tuesday, citing Environment Minister Fabio Arjona.
Arjona announced the decision during Medellín Climate Week, saying the government would begin the process of withdrawing Decree 973 of 2026. The measure was issued shortly before Petro left office and introduced requirements for carbon projects, including emissions verification, community participation and government oversight of international credit sales.
The Environment Ministry said its review found that the Finance Ministry had not participated in matters within its remit and that opinions from other government agencies were still pending when the decree was issued. The ministry also said the final text had undergone substantial changes without being republished for public comment.
Government Plans Replacement Framework
The government says revoking the decree is intended to correct those procedural issues while developing a new regulatory system involving communities, territories, private companies and public agencies.
Arjona said the government aims to build a stronger National Registry of Greenhouse Gas Emission Reductions, known as Renare, and establish rules intended to encourage private capital to support conservation and emissions reductions.
He said the administration expects to have a new version of Renare ready within three months.
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The decree had also extended potential project durations, allowing some emissions reduction projects to operate for up to 15 years and removal projects for as long as 40 years.
Industry representatives nevertheless raised concerns that government approval between project phases could increase costs and deter foreign investment.
The ministry said existing rules will remain in effect while the replacement framework is developed.
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