Argentine President asks “to exchange foreign debt for climate action.”
The Argentine president, Alberto Fernández, stressed this Sunday the importance of “exchanging external debt for climate action” and described as key “lower rates and longer payment terms” in the indebtedness, in his intervention in the second plenary session of the day end of the G20 leaders’ summit in Rome.
The Argentine president insisted on “advancing in sustainable agreements on foreign debt” and “identifying advances in clean technologies as global public goods”, according to an official statement on his intervention in the session whose theme was “Climate Change and Environment” .
“Without environmental multilateralism, we will all be running into the abyss,” warned Fernández and remarked that “environmental justice requires global financial justice.”
“Without sustainable financing there will be no sustainable development,” he added, noting that “resources for the implementation of the Paris Agreement remain insufficient, especially for the most disadvantaged countries.”
Fernández pointed out that “it is the developed countries who have benefited the most from the intensive use of the planet’s environmental resources during the last centuries” and that is why he emphasized “the concept of common but differentiated responsibilities.”
The Argentine president highlighted that “the countries that produced the largest environmental footprint are the same ones that dominate the technologies that can reduce the impact of production on the environment and that transition will have a positive effect on them, not only in environmental matters, but also on production and employment ”.
On the other hand, “the challenge is enormous for developing and middle-income countries”, such as Argentina, since “the impact of this transition may be negative in terms of social cohesion,” he said.
Meanwhile, due to the “primarization” of Argentine exports, he said that “it is essential that the new environmental rules are backed by scientific evidence so that they do not constitute an unjustified barrier to trade.”
Fernández, who will participate in Glasgow in the United Nations Conference on Climate Change (COP26), pointed out that “it is a considerable effort” to have raised the National Determined Contribution by 27.7% compared to 2016, two points additional to the one already presented in 2020 and that Argentina cares “especially for native forests.” (I)
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