Given the key role of finance ministers in addressing environmental challenges, Vahe Hovhannisyan, Minister of Finance of the RA, also participated in the 7th session of the UN Environment Assembly (UNEA-7).
Within the framework of UNEA-7, Minister Hovhannisyan took part in the discussion titled “Why Tackling Environmental Degradation is critical to the Future of the Global Financial System” where he delivered a speech highlighting the importance of biodiversity conservation and environmental protection.
Minister Hovhannisyan noted that challenges in this field have a direct impact on economic development, fiscal policy, and debt sustainability.
In his remarks, Vahe Hovhannisyan also referred to the 17th Conference of the Parties to the Convention on Biological Diversity (COP17), which will be held in Armenia in 2026, emphasizing that it represents an excellent opportunity to develop effective new mechanisms for public–private cooperation.
It should be recalled that the UN Environment Assembly is convened every two years and is regarded as one of the largest high-level platforms for discussing global environmental policy and agendas. UNEA-7 is also among the final major high-level international events to be held ahead of COP17.