By: John Feffer

The New Shift from Pink to Green in Latin America

Colombia's new leader, Gustavo Petro, aims to shift the economy away from oil, coal, and narcotics to sustainable activities.

Colombia's pivot from fossil fuels and narcotics could inspire other countries, as climate targets are at risk of being missed.

Resistance to Colombia's plan to phase out fossil fuels has come from the government's finance and energy ministries and the oil industry.

Colombia's government faces a massive debt problem, with one-third of revenues going to service foreign debt, which is common in the Global South.

Petro's approach is novel in Latin America, where the left has typically favored raw material extraction to boost government revenues.

Latin America's growth strategies have failed, leaving the region the most economically unequal, falling further behind the North.

Colombia's new approach under Petro is part of a "pink wave" in Latin America with progressive leaders in power.

Petro and Francia represent a new paradigm of economic development, which is more focused on green policies than traditional left-wing politics.