Francke on Repsol: fining those who damage the environment is not scaring away investments

The Minister of Economy and Finance, Pedro Francke, argued this morning that demanding the Repsol company to pay civil and environmental reparations for oil contamination at the La Pampilla Refinery does not represent a confrontation with private investment.

During the presentation of the economic perspectives of the MEF for 2022, the minister opined that the Spanish capital company should also correspond to the fishermen affected in their work, who could spend weeks without going out to sea due to their toxic contingency.

“This is a tremendous environmental and social tragedy, I think it has been an inexcusable failure of the company, which has to be responsible for all the damage caused, as well as for reparations and civil compensation, in addition to compensating the people who are losing. income directly. The one that generates damage has to compensate, that is a basic principle that we hope the company assumes”, he indicated.

In this sense, Francke Ballvé stated that it is not the policy of this government ‘go through warm water‘ environmental problems to attract foreign capital.

“At some point it may have been thought that the best thing is to leave and accept that there is environmental damage because that is the only way we can attract private investment. I think that this is a completely outdated concept and it is accepted throughout the world that any company that causes damage repairs it. When one establishes environmental rules they have to be strictly complied with; he who pollutes and damages, pays,” said the head of the MEF.

In addition, he clarified that the fact of fining Repsol represents a positive message to the international community, about the Government’s actions to favor investments without aligning with companies to the detriment of laws and citizens.

“Today no investor can think that their investment depends on going through lukewarm water, or not taking appropriate actions seriously when environmental and social damage is generated. On the contrary, the Government acting firmly in the requirement to the company is well seen internationally, a sign that Peru treats investments seriously, opening the doors, promoting, facilitating, but setting clear rules”, precise.

Finally, the minister stated that the government authorities will collaborate with the oil removal work in Window and all the affected beaches, this not being an excuse for the company to delay in making the necessary decisions and assuming its responsibilities.

“There is a social effect on fishermen and coastal cities. The Government is preparing alternatives to respond quickly to this issue. Hopefully the company will do it too and without waiting but, as long as it is not done, the State also has to participate and collaborate with the cleanup”, he remarked.

“In the national macroeconomy, [el problema de] artisanal fishing does not represent a figure that could affect our projections of economic growth. It is an issue that has to be seen from a social point of view,” added Francke.