The Minister of Economy will participate in a team created by the Glasgow Financial Alliance for Net Zero.
Azucena ArbelecheMinister of Economy and Finance of the Uruguay, will participate in a Advisory Board for a Latin American and Caribbean Network created by the Glasgow Financial Alliance for Net Zero (GFANZ), a coalition of institutions dedicated to meeting expectations of carbon neutrality in the economy by 2050.
He Ministry of Economy and Finance (MEF) announced this morning that the portfolio leader will advise the Regional Board for Latin America and the Caribbean of the Glasgow Financial Alliance for Net Zero, the “main international coalition of financial institutions committed to decarbonization of the economy,” as reported on their social networks.
The Council in which Arbeleche will participate – which is made up of notables climatic figures and financial institutions of the region – has the objective of providing strategic direction, guidance and experience in supervising the work plan and the results of the network.
Advisors also include Daniel BeckerPresident, Latin American Federation of Banks (FELABAN), and General Director, Grupo Financiero Mifel; María Eugenia Brizuela de Ávilaformer Minister of Foreign Affairs of El Salvador and former President of the Salvadoran Bank; Olga CantilloExecutive President of the Latin American Stock Exchange (Latinex) and former President of the Ibero-American Federation of Stock Exchanges (FIAB) and Valentin GalardiPresident, Argentine Association of Mutual Funds and President, Ibero-American Federation of Investment Funds.
What is the objective of the Latin American and Caribbean network?
Yesterday, during the Latin American and Caribbean Climate Week of the United Nations, GFANZ announced the creation of its Latin American and Caribbean Network and its Advisory Council with the aim of advancing carbon neutrality objectives in the region.
To this end, “it will work with local financial institutions to accelerate efforts to unblock the climate finance in the region”, according to the official GFANZ website.
“This includes supporting financial institutions in transition planning, implementing climate goals, develop capabilities and collaborate with policymakers on actions to accelerate capital mobilization,” the statement added.
The importance of Latin America on the path to decarbonization
Although the region contributes less than 10% of global emissions of greenhouse gases, It is one of the most vulnerable regions to the effects produced by the phenomenon. However, Latin America and the Caribbean play an important role in the global climate solutions, Therefore, it is necessary to conserve its biodiversity.
This is due to its large tropical forests – which function as a large carbon storage – as well as its biodiversity and critical minerals that are crucial for the development of clean energy such as wind, solar and geothermal.
Source: Ambito
