Mexico's Climate Performance Found Wanting

Mexico is among the countries with lower performance rankings in addressing climate change, according to CCPI. Meanwhile, Yucatan is ready to launch the IE-Tram project. 

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CCPI Highlights Gaps in Mexico’s Renewable Energy Transition

Mexico is among the countries with lower performance rankings in addressing climate change, according to the Climate Change Performance Index 2023 (CCPI). CCPI highlighted Mexico's heavy reliance on fossil fuels for electricity generation. In this regard, the report emphasized that subsidies for fossil fuels increased between 2021 and 2022, contradicting Mexico's international commitments to boost clean energy. Additionally, the study sheds light on Mexico's challenge with illegal deforestation, identifying it as a detrimental factor in the context of climate change. 

Yucatan Ready to Inaugurate IE-Tram Project

The Yucatan government recently conducted the inaugural test run of the IE-Tram, a 100% electric transport system, which will cover a network of 129km, threading through more than 137 neighborhoods. The project involved an investment of US$149.6 million, 61% provided by the government of Yucatan, 23% by BANOBRAS, and 16% by private investors. E-Tram units are designed with a passenger capacity of 105 people and come equipped with convenient features such as USB ports for swift mobile charging, WiFi connectivity, real-time geolocation, and 11 cameras to enhance safety.

PEMEX Reports on Sustainability Strategy

PEMEX reported on advances in the formulation of strategies aimed at emissions reduction and the energy transition. The state company’s forthcoming Sustainability Plan will encompass additional focal points, such as industrial safety, occupational health, social responsibility, and governance. This analysis aims to instigate actions that enhance the company's ratings in these areas in the short and medium term.

Mexico's Climate Budget Faces Shortfalls in 2023

The Ministry of Finance and Public Credit announced that the budget allocated by the Mexican government for the adaptation and mitigation of climate change, experienced a delay in 2023. The officially allocated funds amounted to only MX$120.01 billion, creating a 22% shortfall of MX$33.79 billion compared to the planned allocation. Greenpeace emphasized that the lack of transparency in funds exacerbates the consequences of climatic catastrophes, such droughts, which have been persistent in the past year, affecting over 63% of the country's municipalities.