President agentino proposes debt conversion for climate action

The President of Argentina, Alberto Fernandez, in his speech at the 26th United Nations Conference on Climate Change (COP26) this Tuesday, supported the “climate change credit transfer system” to achieve carbonization.

“To move forward with the necessary transformation agenda, the ecosystem needs to develop payment mechanisms for services, exchange credit for climate action and establish the concept of environmental credit,” the head of state said during a summit in Glasgow, England. .

Fernandez pointed out that “it is necessary to use the granting of special capital rights by the International Monetary Fund (IMF) for a major environmental solidarity agreement, which includes low- and middle-income countries and to help extend debt maturity and investment. Interest rates”.

“Argentina does not want to put this COP in words only, so we propose to create a political and technical committee on climate finance, with equal representation of developed and developing countries, to work on defining a plan for mobilization. Necessary funding,” the president said.

The panel, according to Fernandez, should recognize “common but different liability policies” and “take into account credit and structural restrictions and social welfare requirements.”

“Countries like Argentina, through their ecosystems, support the livelihoods of the entire planet, while at the same time making a decisive contribution to food security,” he said.

Speaking at COP26, Fernandez pointed out that in relation to the pledges adopted after the Paris Agreement in 2015, the government under his leadership has raised its ambition to reduce carbon emissions by 27%. Measures to eradicate illegal deforestation “, among other projects.

“The epidemic’s health crisis is nothing more than the elimination of the greatest crisis of instability and imbalance affecting the environment and the economy,” Fernandez said.

To alleviate the situation, the Argentine president called on all to accept “common, differentiated, responsibilities” that would allow for a transition to a cleaner economy, resisting the effects of lower carbon and climate change.