Mexico Has Only Six Years to Meet Climate Change Goals

In 2022, Mexico revealed its commitment to reduce greenhouse gas emissions (GHG) by 35% by 2030 as part of COP27. However, the budget to attain this climate change goal has been reduced significantly, leaving the upcoming administration with limited time to tackle the issue. 

While presenting the document Resilient Mexico, Decarbonization and Climate Resilience Plan 2024-2030 at a conference, Sandra Guzmán, Founder, of Climate Finance Group for Latin America and the Caribbean (GFLAC), warned that Mexico has only six years to achieve its climate goal given the cyclical budget reductions allotted for climate change and weakened institutions to drive the shift to clean energy. 

For example, the Supreme Court of Mexico approved the termination of a climate change fund established in 2015. Intended for supporting the efforts to reduce greenhouse emissions in the country, the funds were underutilized. CEMDA reported the resources will be used at the discretion of the government, which means they may promote fossil fuels instead. 

Guzmán added that the carbon-intensive public budget assigned to produce oil, gas and coal exceeds the budget for attention to climate change 316 times, which showcases the government's ambition. Jesús Dorantes, Chairman of the Advisory Board, Hoocax, told MBN  "Anyone with even a little time and curiosity can recognize the incongruence of the current administration of the Federal Executive Power."

According to the National Institute of Energy and Climate Change (INECC), an investment of US$126 billion is needed to achieve the energy transition objectives and carbon emissions reductions. “The next six years hold strong gravitas, as it is the last time that we will have the possibility to increase the climate vision and be part of the significant reduction of 50 percent in emissions at a global level,” said Guzmán. 

Nora Cabrera, Director, Nuestro Futuro, asserted that a fair process is needed to ensure effective energy transition. She added that human rights must be at the centre of the process. A strategy to end public and private investment in new fossil fuel projects is necessary, too. 

The Resilient Mexico document calls for a decarbonization and resilience plan for PEMEX and CFE, as they are the biggest polluters. The strategy must also include the electrification and intramodality of public transport and cargo.