The withdrawal of Argentina from COP29 in the early days of the summit in Baku, Azerbaijan, surprised many, as the delegation received a direct order from the government of Javier Milei, causing a general astonishment at an international level.
This decision undoubtedly raises concerns about the stability of the Paris Agreement. Furthermore, the choice will bring direct consequences for the country, leading to a clear isolation from the climate agenda.
This will also have economic consequences, given that the central axis of this COP is nothing less than climate financing.
## Retiro de la COP29: qué consecuencias traerá para la Argentina
Argentina had participated in the intermediary negotiations in June in Bonn and had been present for two days in Baku. However, Milei’s Executive withdrew from the most important edition in recent years on a crucial topic for a developing country like Argentina, which is financing.
### Afuera de las negociaciones: la importancia del financiamiento
The direct and central consequence is that Argentina is not present and, therefore, cannot assert its position or interests in the negotiations to decide the details of the New Collective and Quantifiable Goal of Climate Financing (NCQG).
This refers to how the mobilization of economic resources that developed countries must make to developing countries will be.
Argentinian environmentalist Oscar Soria, director of the think tank The Common Initiative, described Milei’s decision as a “serious setback” for the economy and well-being of Argentinians. The climate crisis has already severely impacted the economy, especially due to recent droughts affecting agricultural exports.
Soria, who is in Baku, told Noticias Ambientales that this decision “marginalizes the country from the world” and described it as a “suicidal” move driven by a “backward ideology.”
## “Aislamiento climático”
This isolationist stance hinders international cooperation on environmental issues and limits access to funds and technologies to address climate challenges.
## Mercados de carbono: pérdida de oportunidades de inversiones
The implementation of Article 6 offers Argentina a unique opportunity to attract investments. This section of the agreement establishes the foundations for the global carbon market and promotes international cooperation in mitigating climate change through bilateral agreements for emission reduction transfers.
Several countries in the region, such as Colombia, Chile, and Uruguay, have already advanced in signing these bilateral agreements, while Argentina withdrew. This represents a loss of potential foreign investments in clean energies, among other possibilities.
Such agreements not only generate additional income but also position the signing countries as leaders in climate innovation and sustainability.
### Impacto social: los más afectados
The most vulnerable populations, such as small farmers, indigenous peoples, and coastal inhabitants, will be the most affected by the impacts of climate change.
## ¿Qué pasa si la Argentina se va del Acuerdo de ParÃs?
“We are reevaluating our strategy on all matters related to climate change,” said Chancellor Gerardo Werthein to American media.
The American media suggests that Argentina’s continued presence in the Paris Agreement is part of a broader review of Milei’s government’s climate policies. Argentine Chancellor Gerardo Werthein stated that the government is “reevaluating” its “strategy on all matters related to climate change,” without confirming yet if a definitive decision will be made.
“So far, we have not made any other decisions beyond withdrawing until things are clearer,” Werthein added.
If Milei also leaves the agreement, some fear it could trigger a chain reaction, prompting other countries to reconsider their own participation,” the New York Times text indicates.
In the event of Argentina’s withdrawal from the climate agreement, the country will remain subject to other decisions made by the libertarian government based on its interests. This includes the recent withdrawal of the Argentine delegation from the COP29 climate summit held in Azerbaijan.
Recently, through its Chancellor, Javier Milei also broke with diplomatic tradition by voting against two other resolutions in the General Assembly: one ensuring the rights of indigenous communities and another promoting the protection of women and girls in the digital ecosystem.
In both cases, Argentina was the only country to vote against, even against its professed allies like the United States or Israel.
Moreover, in the event of an eventual exit from the Agreement, the private sector will be the most affected. Due to the increasing requirements imposed by markets and financing organizations regarding compliance with environmental and social standards.
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