Argentina approves Glacier Law reform, opens protected areas to mining
With 137 votes in favor, 111 against and 3 abstentions, the initiative received final approval after a debate marked by tensions between those promoting investment to boost the economy and those warning of environmental risks.
The reform previously passed the Senate.
Argentina had been among the countries with the most restrictive glacier protection frameworks in the region under the previous law, enacted in 2010 during the administration of Cristina Fernández de Kirchner.
That legislation established broad protection over glaciers and periglacial zones, considered strategic freshwater reserves, and prohibited extractive activities and any intervention that could affect their natural function.
The new policy was promoted by the ruling La Libertad Avanza party of President Javier Milei.
The reform introduces selective glacier protection, limited to those considered essential for water supply. It eliminates the automatic protection of periglacial zones, which will now depend on specific technical studies, and allows mining and hydrocarbon development in previously restricted areas, subject to environmental impact assessments.
It also grants greater authority to provincial governments, which will be able to define which areas to protect and which to open, and reduces the role of the scientific system, as the National Glacier Inventory will no longer be binding and oversight will rest primarily with provincial authorities.
"This modification seeks to clarify concepts and strengthen the balance between environmental protection and development," ruling party lawmaker Nicolás Mayoraz said during the debate.
Opposition sectors warn that the changes could weaken environmental standards and create uneven criteria across jurisdictions.
Opposition lawmaker Sabrina Selva described the reform as "regressive" and warned it will generate interjurisdictional conflicts.
"This law is unconstitutional and will bring disputes between provinces," she said.
Environmental organizations such as Greenpeace, the Environment and Natural Resources Foundation and the Argentine Association of Environmental Lawyers announced they will file a joint suit to halt implementation.
"This reform puts access to water and ecosystems that depend on glaciers at risk," they said in a statement.
The debate focused on the role of glaciers as freshwater reserves in a country where water distribution is uneven. According to data cited by fact-checking site Chequeado, about 70% of Argentina's territory has arid or semi-arid conditions.
In addition to environmental groups, opposition leaders also criticized the reform.
Opposition Sen. Eduardo "Wado" de Pedro warned that "more than 7 million Argentines depend on glaciers and Andean snow as their main source of drinking water" and said the change "puts strategic resources at risk without guaranteeing benefits for the country."
De Pedro said the debate "is not only environmental, but also about sovereignty," and he argued that water protection is linked to regional development and the stability of provinces.
Data from the National Glacier Inventory of the Argentine Institute of Nivology, Glaciology and Environmental Sciences indicate there are about 17,000 ice bodies covering less than 0.25% of the continental territory, while mining activity is allowed in most of the country outside those protected areas.
================================================================================================
Peru to issue sovereign bonds for naval base project backed by U.S.
The project, to be carried out by the Ministry of Defense, is seen as a key step to strengthen Peru's operational capacity and expand its maritime commercial activity in the Pacific.
The military infrastructure upgrade is supported by a recent approval from the U.S. Department of State for sale of equipment and services valued at $1.5 billion for this phase of the project.
Washington will provide design, equipment and construction services to ensure the infrastructure meets international interoperability standards.
Related
The U.S.-approved financing will be channeled through the Foreign Military Sales program, with the U.S. Army Corps of Engineers serving as the main contractor.
The U.S. Department of State notified Congress about the plan, noting that the initiative will strengthen a strategic ally in South America and support Washington's foreign policy objectives, CNN Chile reported.
The new base aims to modernize the operational capabilities of the Peruvian Navy amid growing trade in the Pacific. Plans include submarine berths and new command buildings for strategic control of the South Pacific.
The expansion will also include new docks and is expected to free up 198 acres for commercial development at the Port of Callao.
The proximity between the naval base and the Chancay megaport, developed with Chinese capital, has sparked debate, placing two global powers within less than 50 miles along Peru's central coast, according to Infobae.
Previously, the United States warned that Peru could be losing sovereignty after a court ruling that limits state oversight of the Chancay port, operated by COSCO Shipping, describing the situation as a "regional warning."
The infrastructure will remain under exclusive Peruvian ownership, though up to 20 U.S. experts are expected to be present for up to 10 years to oversee construction and technical cooperation.
According to the decree, the sovereign bonds will be issued in local currency, with semiannual interest payments and placement through market auctions. The securities will be freely tradable and may be issued in one or more tranches during the execution of the project.
Peru's Ministry of Economy and Finance is to execute the operation, while payments of principal, interest and related costs will be covered through national budget allocations for public debt servicing.
No comments:
Post a Comment