Argentina in the G20 Troika: the Boost to Sustainable Financing

Date: 17 Feb 2017

Spanish version

Buenos Aires, 15 February 2017 – The Ministry of Treasury today hosted the UN Environment Mission as part of the country’s commitment to boosting sustainable financing.

In its first steps as part of the G20 troika,[1] the Chief of Cabinet of the Ministry of Treasury Ariel Sigal expressed the country’s commitment to the G20 and in this context received today UN Environment, which with its vision will contribute to the development and sustainable financing challenges of Argentina.

Subsequently, the Ministry of Finance held a public event headed by Simon Zadek, co-director of the UN Environment Inquiry, where the design of a sustainable financial system was discussed.

The UN Environment delegation – Simon Zadek, senior advisor Mark Halle, members of the Inquiry team and representatives of UN Environment’s Finance Initiative – arrived in Buenos Aires last Monday with the aim of launching the development of a strategic roadmap on sustainable finance in Argentina, and therefore contributing with the country to the study and analysis of the sector.

Zadek also presented the report “The Financial System We Need: From Momentum to Transformation”, launched at the International Monetary Fund/World Bank annual meetings last October. The report discusses the effectiveness of the financial system in mobilizing capital towards a green and inclusive economy, as presented in the Sustainable Development Goals (SDGs) and the Paris Agreement on climate change.

“A sustainable financial system is essential for Argentina to achieve its development priorities and, in turn, consolidates international cooperation in this area” explained Zadek.

The strategic plan presented today by Zadek shows the commitment of UN Environment to continue working to identify measures and policies that promote the development of a green and inclusive economy. For its part, Argentina will continue to advance in the study and analysis of these high-priority topics, such as sustainable financing, which are discussed in international fora, and the desire to draw on global experiences that make a positive contribution to the local economic policy decisions.

NOTES TO EDITORS

UN Environment Inquiry: The Inquiry into the Design of a Sustainable Financial System was initiated by the United Nations Environment Programme (UN Environment) to advance policy options to improve the financial system’s effectiveness in mobilizing capital for sustainable development. In October 2016, the Inquiry published the 2nd edition of its landmark report, The Financial System We Need, entitled From Momentum to Transformation. More information on the Inquiry can be found at: www.unepinquiry.org

For more information, please contact:

Mahenau Agha, Head of Outreach, UN Environment Inquiry: mahenau.agha@unep.org – +4179-105-3614

[1] A set of three countries working to ensure the continuity of the G20 agenda. The troika is formed each year by the country that holds the presidency of the G20, together with its immediate predecessor and successor. In 2017 it is made up of China, Germany and Argentina.