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57 Nations Pledge Coal-by-2027, Oil-2045, Gas-2050

5/13/2026

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Summary

Story summary

57 economies gathered in Santa Marta, Colombia, to pledge a coordinated phase-out of coal, oil and gas.
Members, excluding the United States and China, set voluntary targets to end coal by 2027, oil by 2045 and gas by 2050.
The bloc’s $38.5 trillion GDP—about 30 percent of global fossil-fuel consumption—gives it market-shaping power, while IEA chief Fatih Birol warned that war-driven oil-price spikes could permanently damage the industry.

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Story summary

57 economies gathered in Santa Marta, Colombia, to pledge a coordinated phase-out of coal, oil and gas.
Members, excluding the United States and China, set voluntary targets to end coal by 2027, oil by 2045 and gas by 2050.
The bloc’s $38.5 trillion GDP—about 30 percent of global fossil-fuel consumption—gives it market-shaping power, while IEA chief Fatih Birol warned that war-driven oil-price spikes could permanently damage the industry.