About the project
This project aims to provide evidentiary basis to policy reform and to contribute in creating the enabling conditions that result in the rapid decarbonisation of the national economy by making finance flows consistent with low-carbon development pathways and avoiding carbon lock-in.
The removal of barriers to green investments is a crucial process in order to successfully implement the current NDC, while allowing to raise ambitions for subsequent ones.
Below you will find a video with a summary of the project in Argentina
To increase climate ambition, next generation of NDCs and long-term strategy requiere:
An array of technical inputs to demonstrate feasibility of climate investments
Improved policy and regulatory frameworks
Increased awareness on climate action as enabler for economic recovery
Broader support from stakeholders
The annual needs for sustainable finance in Argentina for the 2019-2030 period were estimated to range from US$40 billion to US$60 billion, mostly from infrastructure-intensive sectors such as: transportation, housing, energy and communications. Total annual sustainable investment will need to increase by about 260% to ensure that optimal opportunities are met by 2030, probably more, given the current paucity of investment under the economic contraction due to the pandemic.
Specific objectives are:
Identify enabling conditions to make feasible the decarbonisation of the country’s economy and strengthening resilience. To that end it is convenient to improve and broaden access to international climate finance, as well as creating the conditions for an expanded flow of private resources to fund long-term climate action, in order to complement sparse resources from the public sector.
Provide robust information to create awareness and demonstrate that climate action should be a key element in enabling short-term economic recovery, avoiding bad long-term investments and strengthening sustainable development.
Contribute to providing elements to enhance the existing climate governance, policy and regulatory framework.
Identification of new and innovative financial instruments, including those capable of modifying the risk-return profile of investments.
Identify strategic investment opportunities in the selected sectors, under still enduring major budgetary and financial constraints. The aim is to avoid potential carbon lock-in and strengthen mitigation actions while increasing the efficiency of investment decisions.
Consolidate a green and sustainable investment portfolio in a prioritized sector, while also assisting to devise demand side policy approaches to reduce emissions.
Showcase that a green recovery is feasible, attractive from an investor’s perspective, and adding to sustainable development patterns.
Reviewed mitigation actions in the NDCs towards more comprehensive and ambitious sectoral plans, including exploring new potential mitigation options not yet having been thoroughly analysed. Consideration of demand side approaches as fertile additional mitigation options
Heightened awareness and specific knowledge of international sustainable finance diversity of sources and means of access that are available to materialize climate action.
Propose enhanced policies and measures and regulatory reforms, as well as a range of innovative instruments (i.e. financial and non-financial, risk mitigation) to contribute to address key barriers to investments in order to remove or reduce them substantially for prioritized mitigation actions.
Input to international negotiations and new or revised commitments under UNFCCC, including national long-term strategy (LTS), next generations of NDCs, and proposals for the development of national and sectoral recovery plans.
A robust and down-to-earth sectoral investment portfolio according to the prioritized mitigation actions.
Increase awareness of the feasibility and attractiveness of green recovery through selected cost-effective identified mitigation options.
Sustained and inclusive economic growth can drive progress, create decent jobs for all and improve living standards. Decent work means opportunities for everyone to get work that is productive and delivers a fair income, security in the workplace and social protection for families, better prospects for personal development and social integration.
Economic growth, social development and climate action are heavily dependent on investments in infrastructure, sustainable industrial development and technological progress.
Inclusive and sustainable industrialization, together with innovation and infrastructure, can generate employment and play a key role in introducing and promoting new technologies, facilitating international trade and enabling the efficient use of resources.
Inequalities based on income, sex, age, disability, sexual orientation, race, class, ethnicity, religion and opportunity continue to persist across the world. Inequality threatens longterm social and economic development, harms poverty reduction and destroys people’s sense of fulfilment and self-worth.
The SDGs can only be realized with strong global partnerships and cooperation.
A successful development agenda requires inclusive partnerships — at the global, regional, national and local levels — built upon principles and values, and upon a shared vision and shared goals placing people and the planet at the centre