The closing of the first conference on Transitioning Away from Fossil Fuels was a historic moment in international climate negotiations.

After months of preparation, the process led by Colombia and the Netherlands brought together more than 50 countries in Santa Marta to discuss how they can work together to move away from fossil fuels, as agreed in the First Global Assessment of the Paris Agreement at COP 28.

The main outcomes of the conference include:

1. Announcement of the next conference under the leadership of Tuvalu and Ireland in 2027. The next meeting in Tuvalu will be an important milestone to ensure the continuity of the process, focusing on deepening discussions on the challenges and solutions identified.

2. Launch of a Scientific Panel for the Global Energy Transition, which will help countries develop their own roadmaps.

3. Definition of three areas of work to deepen discussions in preparation for the next conference: Support for the development of national roadmaps aligned with the NDCs;
   Macroeconomic dependencies and changes in the financial system necessary for the transition, focusing on fiscal, debt and subsidy challenges;
   Decarbonizing the trading system, considering how to diversify the economy in a way that makes sense for people and territories.
   

The final document also presents a summary of the main discussions of the conference, which will be supplemented with a full report in the coming months, to be delivered to the COP 30 Presidency before the Bonn meeting in June.

The document will serve to inform the Roadmap for Transitioning Away from Fossil Fuels, and aims to contribute to the Action Agenda for the Second Global Assessment of the Paris Agreement (GST2).