In many ways, the country of 3 million is an environmental pioneer on the international stage.
In recent years Uruguay has embraced novel financial instruments in its efforts to lower greenhouse gas emissions. The country issued a sustainability linked sovereign bond and took out a development policy loan, both of which would effectively reward the country financially for hitting its targets under the Paris Agreement on climate change. The loan is the first of its kind globally to link financing conditions to environmental performance.
Uruguay has long been an active player in the UN Environment Assembly (UNEA), the world’s top decision-making body on matters related to the environment. It sponsored a 2022 UNEA resolution to create a body that would provide policymakers with the latest science on chemicals, waste and pollution. Negotiators are now finetuning the details of this new science-policy panel, seen as crucial to countering a planet-wide pollution crisis that causes millions of deaths each year.
As well, Uruguay hosted the first meeting of an intergovernmental negotiating committee charged with developing a legally binding instrument on plastic pollution. The gathering was held in December 2022 in Punta del Este.
With the planet under mounting pressure, Bouvier said it is increasingly important for nations to work together on environmental issues.
“Our society demands quick and effective solutions,” said Bouvier. “We cannot achieve this alone. It is crucial to realize that we must tackle these issues collectively, ensuring that no one is left behind.”
Uruguay is one of UNEP’s funding partners, whose full-share contributions to UNEP’s Environment Fund enable agile, innovative global solutions for climate change, nature and biodiversity loss, and pollution and waste. Learn how to support UNEP to invest in people and planet.
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Publish date : 2024-07-31 20:05:00
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