The Minister of Economy and Finance, Azucena Arbeleche, participated in the meeting of the Coalition of Ministers of Economy for Climate Action, which met during the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change ( COP27) in the city of Sharm el-Sheikh, Egypt. Arbeleche highlighted Uruguay’s actions on environmental issues and on the roadmap to internalize climate policy in economic policy.
The hierarch highlighted the financing of Uruguay, referring to the link with multilateral banks in the development of loans related to environmental sustainability and the recent issuance of the bond dependent on climate indicators, according to the website of the Ministry of Economy and Finance (MEF). .
On the other hand, during his stay in Egypt, he spoke on panels of specialists and held interviews with international representatives such as the Managing Director of World Bank Operations, Axel van Trotsenburg, with the slogan: “Innovations for climate action: the Uruguayan agreement that It marked a milestone.”
She also attended as a guest the panel of the Coalition of African Countries for Sustainable Financing. During her presentation, she described the main aspects of the design of the bond indexed to environmental indicators and highlighted the importance of interministerial coordination to achieve it.
The Coalition of Finance Ministers for Climate Action is a group that represents the Ministries of State to support the use of fiscal policy, the management of public finances and the mobilization of financing, in order to promote domestic and global actions against the environmental problem.
Arbeleche traveled to COP27 accompanied by the director of the MEF’s Debt Management Unit, Herman Kamil, and the Environmental Economics advisor, Marcelo Caffera.
