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Argentina for an environmental solidarity pact in COP26

Argentina COP26

Argentina for an environmental solidarity pact in COP26

London, Nov 2 (Prensa Latina) The Argentine President, Alberto Fernández, today underlined the need to apply the Special Drawing Rights of the International Monetary Fund (IMF) for a great pact of environmental solidarity.
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Speaking at the plenary session of the COP26 Leaders’ Summit in Glasgow, Scotland, the Head of State referred in particular to the devastation caused by Covid-19, which, he said, revealed a multidimensional crisis of unsustainability and imbalance that affects the environment, society and the economy and widened the pre-existing gaps.

During his speech at the Scottish Event Campus, Fernández said that in order to move forward with the agenda the concept of environmental debt should be introduced.

He reaffirmed the need to apply the issuance of IMF Special Drawing Rights for an environmental solidarity pact that includes low-income and middle-income countries and serves to extend the terms of debts and the application of lower rates.

After highlighting the importance of strengthening environmental multilateralism and promoting the capitalization of the Regional Development Banks, he noted his country’s commitment to adopt environmental action as a State policy and proposed the creation of a political and technical committee on climate finance.

On the other hand, he emphasized that the impact on common natural resources and goods has surpassed limits and poses concrete challenges that must be faced and added that nations’ ecosystems support the livelihoods of the entire planet and contribute to global food security.

He also announced his government’s commitment to the United Nations Framework Convention on Climate Change and the Paris Agreement and noted that in Argentina, the Nationally Determined Contribution was raised by 27.7 percent compared to 2016.

It is time to act, let’s do it together, invited at COP26 the president, who advocated to fulfill the commitments and obligations assumed by developed economies and guarantee access to the 100 billion dollars aimed to boost climate action.

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