Image credits: Andrés Manuel López Obrador on Twitter
News Article

Mexico Commits to Accelerate the Energy Transition

By María José Goytia | Wed, 06/22/2022 - 12:40

US Special Presidential Envoy for Climate John Kerry visited Mexico for the fourth time this year to meet with President López Obrador and discuss accelerating Mexico's energy transition, as part of international efforts to combat climate change.

The meeting took place on Tuesday, June 14 at 11:00 a.m. at the National Palace and lasted over two hours.

Following the meeting, it was announced that the Mexican government will formally commit to accelerate its clean energy transition with a series of concrete measures, announced at the Major Economies Forum on Energy and Climate.

Mexico presented a list of 10 decisions to accelerate the energy transition on Friday, June 17, including its aim to increase the solar energy generated by CFE and work with the private sector to fund these investments in solar, as well as programs toward promoting electromobility, capturing methane gas and concluding the Sowing Life program.

"You will see Mexico's commitment. Mexico is already going to meet its goal of 35 percent clean energy [production], but the president asked to raise this," said Foreign Minister Marcelo Ebrard as he left the meeting.

"Mexico is one of the largest economies in the world and we believe it is the responsibility of all major economies to accelerate efforts to limit global warming," Kerry said.

In addition, Kerry noted that President López Obrador assured him during the meeting that Mexico welcomes private investment to accelerate the sustainable transition and expressed confidence that the president will open the door to private investment in the energy sector. "The president has been very clear about his readiness to transition, but to do so in a way that meets the needs of the people of Mexico," added Kerry.

This announcement strengthens Mexico's position on its international commitments to combat climate change, as PRODESEN had previously published that Mexico would fail to meet its climate goals for 2035.

The meeting was also attended by the US Ambassador to Mexico, Ken Salazar, Mexico’s Minister of Finance, Rogelio Ramirez de la O, the Minister of the Interior, Adan Augusto Lopez, the Minister of Energy, Rocio Nahle, the Director of CFE, Manuel Bartlett and the director of PEMEX, Octavio Romero.

The Joe Biden Administration has repeatedly expressed concern about Mexico's energy policy, motivated by President López Obrador's intention to return market power to the CFE and PEMEX. Kerry's new visit takes place against this backdrop. However, López Obrador's absence at the ninth Summit of the Americas, organized in Los Angeles in early June, also increased friction.

The data used in this article was sourced from:  
El País, Expansión, La Razón de México, Reuters, Mexico Business News
María José Goytia María José Goytia Journalist and Industry Analyst