Energy Policy Increased Greenhouse Gas Emissions by 6%: BBVA

President Andrés Manuel López Obrador's energy policy has led to a 6% increase in greenhouse gas emissions compared to data from the previous administration's term, according to an analysis by BBVA. 

The "Mexico: What Position Does It Hold in Greenhouse Gas Emissions (GHG)?" report found that between 2019 2022, Mexico intensified its greenhouse gas emissions. The study suggested that the current administration's energy policy contributed to this increase. "This policy has favored production through fossil fuels while simultaneously discouraging investment in clean energy projects," reads the study.

Globally, there has been a trend toward reducing emissions associated with economic activity since 1990, a trend Mexico did not consistently follow until 2009, according to the study. Up until 2018, Mexico was aligned with global trends but by 2022, Mexico ranked as the ninth largest emitter of GHGs globally and the second in Latin America, behind only Brazil, according to BBVA.

Moreover, according to the study, each person in Mexico emits an average of 6t of CO2 equivalents per year, ranking the country 79th in per capita emissions. To offset this level of emissions, five trees must be planted annually for each individual.

During 2022, Mexico's top three contributors to greenhouse gas emissions were industrial processes (such as emissions arising from the production of non-metallic minerals, non-ferrous metals, solvents, and other products), transportation (including rail, air, and maritime), and the energy industry (including electricity and heat generation plants), collectively contributing 52.2% of the country's emissions.

The energy industry, transportation, and industrial combustion, together contributed 54.8% of global GHG emissions.

While industrial processes were Mexico's primary contributor to GHG emissions in 2022, globally, this sector ranked sixth. Conversely, Mexico's energy industry ranked third in contribution, while globally, it held the top position, according to the study.