Santa Marta Conference: A turning point to end fossil fuel expansion

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Stand.earth will take part in the First Conference on Transitioning Away from Fossil Fuels in Santa Marta, Colombia. Hosted by Colombia and the Netherlands from April 24 to 29, the conference will bring together governments, Indigenous Peoples, civil society, and academics to identify practical pathways toward a just, orderly, and equitable transition away from fossil fuels. 

At a time when the climate crisis is accelerating, this conference represents a critical opportunity to move from commitments to concrete actions. Stand has submitted its policy proposals to the conference conveners, outlining key solutions for a just transition.

A global push to transition away from fossil fuels

The Santa Marta Conference emerged from a proposal by an international coalition of 24 countries seeking to accelerate the transition away from fossil fuels. Although a formal global agreement exists – first emerging at COP26 in 2021, strengthened at COP28 in 2023, and reinforced by calls for a transition roadmap at COP30 in 2025 – there is a clear gap between commitment and implementation.

The conference is designed to complement the UN climate negotiations, while helping to accelerate implementation. So far, over 50 countries are expected to participate.

Fossil-Free Zones: Drawing the line to end fossil fuel expansion

One of the most immediate steps to accelerate the transition is to stop fossil fuel expansion. Current economic and geopolitical pressures are driving new expansion into the world’s most sensitive ecosystems, including Indigenous territories — threatening biodiversity, communities, and climate goals. Globally, 31% of all oil and gas resources lie beneath areas of high natural and cultural value. The trend is particularly stark in the Amazon: nearly one-fifth of global reserves discovered between 2022 and 2024 are located in the region.

That’s why Stand is calling for the establishment of Fossil-Free Zones, geographic areas defined by their ecological, biodiversity, or cultural significance and protected from fossil fuel exploration. This builds on a growing call from decision-makers, Indigenous Peoples and social movements, which offers a practical way to translate the global commitment to transition away from fossil fuels into policies that governments are already adopting at national level, helping protect ecosystems and communities, reduce financial risk, and support a just energy transition.

Achieving this transition at the necessary speed and scale will not be possible without the finance sector. Private banks are among the key enablers of fossil fuel expansion in socially and environmentally sensitive areas. The 65 largest banks globally committed $869 billion to fossil fuel companies in 2024, including projects in regions vital to the planet. In the Amazon alone, banks have directed more than $15 billion to oil and gas activities since the Paris Agreement was adopted in 2016, reveals Stand research, which will be presented at the event “Financial Roadmaps towards a Just Phaseout and a Fossil-Free Amazon” on April 28 in Santa Marta. This capital flow locks economies into long-term dependence on fossil fuels and undermines energy transition efforts. Stand will present this research 

Yet change is already underway: the concept of exclusion zones has been applied in the financial sector. Since the beginning of Stand’s Banks vs. the Amazon campaign, eleven financial institutions – including BNP Paribas, HSBC, and Citibank – have adopted various forms of policies to restrict financing for fossil fuel projects in the region. While much more progress is needed, these commitments mark an important step toward disrupting the financial flows that continue to drive fossil expansion and climate crisis. 

A Fossil Fuel Treaty to strengthen international cooperation 

While national and regional action is essential, stronger international cooperation is equally necessary — and a Fossil Fuel Treaty can create the conditions for governments to coordinate the managed phase-out of fossil fuel production, end new expansion, and support a just transition. 

Stand is proud to have incubated the Fossil Fuel Treaty Initiative, a growing global effort aiming to end the expansion of coal, oil, and gas, and equitably phase out existing production. At the Santa Marta Conference, Stand is supporting efforts to advance a treaty grounded in a shared mandate among interested countries.

A treaty could unlock new forms of cooperation, including financial support from wealthier countries, debt relief mechanisms, and provide finance and technical support for countries to develop phase-out and just transition plans for workers, communities and regions. It would also complement the Paris Agreement by addressing climate change at its root source, while setting a clear global direction toward a fossil-free future.