Belgium – The European Union (EU) and Uruguay have signed a Memorandum of Understanding (MoU) to enhance their collaboration in pursuing the clean energy transition.
The MoU, signed at the EU-CELAC Summit in Brussels, focuses on renewable energy, energy efficiency, and renewable hydrogen. This partnership aims to drive sustainable development and address climate change challenges, aligning with the ambitious climate goals of both parties.
The MoU sets out the objectives and provides a framework for future cooperation between the EU and Uruguay. The focus areas include reviewing and deepening actions and policies to promote energy efficiency, exchanging best practices in renewable energy and renewable hydrogen, and addressing related regulatory and research issues. The collaboration will also prioritize directing investments towards these critical areas, providing clarity to potential investors.
Environmental legislation
The agreement emphasizes that investments in renewable energy, energy efficiency, and renewable hydrogen must comply with relevant environmental legislation in both the EU and Uruguay. This ensures the parallel efforts to combat climate change and protect biodiversity. Policies promoting energy efficiency and renewable energy will also consider the protection, conservation, and restoration of water systems and water-related ecosystems.
The energy dialogue between the EU and Uruguay builds upon the Framework Agreement for Cooperation signed in 1992. Both sides share the common goal of achieving climate neutrality by 2050 and recognize the pivotal role of energy efficiency and renewable energy in meeting the targets of the Paris Agreement. This collaboration signifies a significant step towards realizing sustainable development and combatting climate change.
EU-LAC Global Gateway Investment Agenda
The MoU aligns with the EU-LAC Global Gateway Investment Agenda (GGIA), a commitment to identify fair green and digital investment opportunities in Latin America and the Caribbean. The GGIA aims to promote sustainable growth in key sectors such as health, renewable energy, digital connectivity, and research and innovation. Through public-private partnerships and collaboration with development financing institutions, the EU and its Member States will work together to achieve the Sustainable Development Goals.
