On the margins of the G20 energy ministerial meeting in the Patagonian city of Bariloche, Argentina and Canada today agreed to combine their countries’ expertise to deliver clean energy solutions for the future, signing MoUs on energy efficiency, mining policy, and nuclear energy cooperation, and agreeing to peer reviews of inefficient fossil fuel subsidies

Demonstrating global leadership and collaboration to achieve climate change goals and enable the transition to a low-carbon economy, Argentina’s Minister of Energy and Mining, Juan José Aranguren, and Canada’s Minister of Natural Resources, Jim Carr, today agreed to combine their countries’ expertise to deliver clean energy solutions for the future.

The ministers signed three Memoranda of Understanding (MoU) - one each on energy efficiency, mining policy, and nuclear energy cooperation - at the G20 Meeting of Energy Ministers in the Patagonian city of Bariloche. The MoUs demonstrate that the two countries:

• place a high priority on energy efficiency as a means to reduce energy use and costs and achieve their climate goals;
• share a commitment to sustainable mineral resource development, which will result in economic growth and environmental stewardship;
• continue to work toward a bilateral framework for collaboration on nuclear energy projects, research and development, and policies aimed at the sustainable development of nuclear energy.

“These agreements confirm Argentina’s interest to enhance international collaboration in key areas”, said Minister Aranguren during the announcement. “We ratified our commitment to mitigate climate change aligned with the Paris Agreement’s goals. We pursue sustainable energy and mining development together with a policy of energy savings and efficiency that allows us to take care of our natural resources and those of the planet,” he added.

“Major breakthroughs that truly accelerate our transition to a low-carbon economy can only come from collaboration,” said Canadian Minister Carr, also stressing the importance of cooperation. “These agreements demonstrate that by leveraging our expertise and advancing energy cooperation we will move closer to meeting our climate change commitments and position Canada to be a leader in the clean growth economy.”

The two countries also agreed to demonstrate leadership, domestically and internationally, in the transition to a low-carbon economy, announcing that they will conduct peer reviews to ensure both countries are on track to phase out inefficient fossil fuel subsidies.

“As a G20 country, Argentina reaffirms its commitment to rationalize and phase out, over the medium term, inefficient fossil fuel subsidies that encourage wasteful consumption, recognizing the need to support the poor, and we will endeavour to make further progress in moving forward on this commitment,” stated Minister Aranguren.

“This joint peer review will help us to enhance our energy security, mitigate climate change and keep our focus on those people who really need subsidies,” he concluded.

“Canada’s partnership with Argentina in this peer review demonstrates our commitment to ambitious climate and energy policies,” said Minister Carr.

Argentina and Canada have both made significant progress in phasing out inefficient fossil fuel subsidies and are on track to achieve their commitments. Phasing out inefficient fossil fuel subsidies is an important step in the transition to a low-carbon economy. In 2009, G20 countries made a landmark commitment to phase out and rationalize inefficient fossil fuel subsidies over the medium term while providing targeted support for the poorest citizens.

Argentina is fully committed to its energy and climate goals and is eager to fulfil its international agreements. Ensuring energy security for a developing country as well as mitigating environmental impacts remain central components for Argentine energy policy.