Hurricane Otis Heats Up Climate Change Discussion

Following Hurricane Otis, experts have issued more warnings about the escalating frequency and severity of natural disasters attributed to climate change. In other news, the Mexican Association for Electric Vehicle Promotion (AMIVE)  has set its sights on advancing sustainable mobility in Mexico.

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Hurricane Otis: Connecting the Dots With Climate Change

Following the devastating impact of Hurricane Otis in Acapulco, Guerrero, specialists warn about the strengthening of natural disasters as a result of climate change. Climatologists have expressed their worries regarding the swift escalation of this weather phenomenon, noting that in less than 12 hours, the tropical storm rapidly evolved into a catastrophic category 5 hurricane. Over 20 Mexican civil organizations released a joint statement demanding immediate action from the Mexican government to address climate change and called attention to the lack of policies aimed at reducing its risks. 

AMIVE: New Sustainable Mobility Platform

The Mexican Association for Electric Vehicle Promotion (AMIVE) made its debut during the second day of Latam Mobility: México 2023. AMIVE is the first organization in Mexico dedicated to the promotion of electric vehicles and sustainable mobility. The platform aims to create synergies in the sector, ultimately fostering growth and investment in electromobility. Likewise, to tackle misinformation and lack of training, the new association will seek to build spaces for dialogue between members of the ecosystem and serve as a bridge with the public sector in Mexico.

The Mexican Government Issues MX$15 Billion in Sustainable Bonds 

The Ministry of Finance and Public Credit launched the fifth issuance of BONDESG in the local financial market in October 2023. About 31 domestic investors participated in the issuance of the bonds, with total demand reaching MX$60.5 billion. The first issuance of BONDESG was placed in May 2022. It involved the participation of 35 domestic investors, with a total demand of MX$64.6 billion. This kind of bond aims to boost the development of sustainable tools in Mexico and support companies in the development of their own ESG instruments.

Hutchison Ports Invests US$220 Million in Lazaro Cardenas Port

Hutchison Ports announced an investment of US$220 million to expand Lazaro Cardenas  Specialized Container Terminal by 50%. The expansion aims to enhance the region’s economic and social development. A third phase of the expansion project will focus on constructing 345m of dock and expanding the area by 28.3ha. With this expansion, the terminal will have 1,275m of dock and yards covering 105ha, increasing the handling capacity from 1.3 million TEUs to 2 million TEUs per year. Moreover, Hutchison Ports has revealed its plans to reduce its carbon dioxide emissions by 45% by 2030.

CANACINTRA, Businesses Join Forces to Address Water Crisis

The National Chamber of the Transformation Industry (CANACINTRA) of the State of Mexico held the "Present and Future of Water Forum” to discuss the water crisis. CANACINTRA's action plan to address this issue will focus on seven UN Sustainable Development Goals: quality education; gender equality; clean water and sanitation; affordable and clean energy; decent work and economic growth; industry, innovation, and infrastructure; and partnerships. Fresh water scarcity and population growth could impact economic development, migration patterns, and public infrastructure investment in the country, specialists pointed out.  

Promoting Sustainable UK Businesses in Mexico

Juliana Correa, Trade and Investment Director, British Embassy in Mexico, sheds light on the dynamics of UK-Mexico trade relations and the pivotal role the embassy plays in supporting UK businesses in this context. According to Correa, the embassy helps identify potential sectors for collaboration and investment between the two countries. In this regard, she emphasized healthcare, financial services, and cybersecurity as sectors in which the UK offers unparalleled services. Additionally, she outlined the embassy’s priorities to strengthen UK-Mexico trade relations in the coming years.

MIP Prepares to Pay for Iberdrola Purchase

Mexico Infrastructure Partners (MIP) launched a US$2.42 billion issuance through Development Capital Certificates (CKD) on the Mexican Stock Exchange (BMV). These funds account for 40% of the resources needed to acquire Iberdrola's assets. Moreover, Iberdrola plans to reinvest the US$6 billion it obtained from selling its assets to the Mexican government in renewable energy projects in the country. 

What Happened to Outsourcing?

Alberto Alesi, Director General, Manpower Group, talks about outsourcing in Mexico and the recent changes in labor laws regarding this practice. According to Alesi, the reform aims to address labor informality, protect workers, address tax responsibilities, and promote comprehensive economic and social development in the country. “We promote policies that guarantee full and worthy employment and equal pay for women, men, youth and people who are part of different priority groups,” says Alesi.

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