He Minister of Economy, Sergio Massa, defended this Tuesday the role of Argentina as an “environmental creditor” and He questioned Europe’s decision to keep fossil fuels like coal.
Argentina promotes the development of abundant gas resources from the unconventional formation of Dead cowin a global context in which gas is recognized as an element of energy transition from hydrocarbons to renewable sources.
“My country is one of the most complicated financial debtors globally, but it is one of the main environmental creditors, and at some point, somewhere, we are going to have to put that equation on the table”pointed out in the framework of the CAF development bank meeting Made in Chile.
He said that “on the path of energy transition, the million dollar question is whether when developed countries ask us to stop gas or liquid gas development projects, Are they going to stop buying liquid gas? Are they going to close the gas ports in their own countries? Or are they asking us to make a transition effort that their own economies are failing to do while we watch Europe reopen coal plants?”
“I think that this is a discussion that in any case we have to give it with a global perspective,” he said.
At the end of this participation in the meeting, Massa stated: “It is always unfair that our countries that are environmental creditors have to make an additional effort for those that are environmental debtors.”
Two weeks ago, the head of the Palacio de Hacienda stated on the occasion of a G20 meeting that took place in India that the biodiversity of developing countries such as Argentina makes them “unacknowledged creditors vis-à-vis financial creditors”and called for redoubling efforts in sustainable financing in favor of the energy transition.
In the Indian city of Bengaluru, at the official session on International Financial Architecture, Sustainable Finance and Infrastructure, Massa stated that “the natural heritage and biodiversity of our countries serve humanity, which makes us unrecognized creditors against the financial creditors”.
“Sustainable financing presents challenges especially for developing countries, which in many cases do not have access to grants and climate financing on favorable terms to invest in mitigation, adaptation and energy transition,” he added on that occasion.