Mexico Limits 2026 Budget for Renewables

This week in sustainability news: Mexico’s 2026 budget allocated just 0.67% of proposed energy sector funding to clean energy. At the same time, the government is preparing a reform package that would ban the transfer of water concessions between private parties and impose higher fines for water-related crimes. Meanwhile, Canada will review the environmental compliance of Canadian mining companies operating in Mexico, following pressure from Mexican officials and rights groups.

More news below:

Mexico’s 2026 Budget Gives Just 0.67% to Clean Energy

Clean energy and energy sustainability programs in Mexico will receive just 0.67% of the proposed 2026  energy sector budget, despite a projected 84.5% increase in total energy spending, according to an analysis by Excélsior. Of the MX$267 billion (US$14.5 billion) proposed under the Proyecto de Presupuesto de Egresos de la Federación (PPEF), only MX$1.8 billion is earmarked for clean energy and sustainability initiatives. In contrast, nearly 98.6% — MX$263.5 billion—will go to hydrocarbons, largely funding the Subsecretaría de Hidrocarburos.

Mexico Seeks Water Reform With Stricter Concessions, Penalties

The Mexican government is preparing a constitutional reform and a new national water law aimed at eliminating the black market for water rights and strengthening oversight of the country’s water systems. The reform would remove the ability to transfer concessions between individuals, forcing unused rights to return to the state, while also proposing a legal chapter on water crimes, with steeper fines and a system to confiscate assets in repeat offenses. 

Canada to Review Mining Environmental Compliance in Mexico 

Canada will review whether mining companies in Mexico are complying with the latter country’s environmental regulations to prevent further damage, following a bilateral meeting between President Claudia Sheinbaum and Prime Minister Mark Carney. According to the Mexican Geological Service, mining is one of the industrial activities with the greatest environmental impact. Water, soil and air are most affected during extraction and processing due to leachates and gases released in crushing, washing, corrosion and chemical separation.

Mexico Carbon Forum Brings 3,000 Together for Climate Solutions

More than 3,000 attendees and 170 speakers participated in the fifth edition of the Mexico Carbon Forum at Expo Tampico, where officials, international representatives, and experts highlighted the urgency of climate action, especially through the expansion of carbon markets within Mexico.

Environmental Approval for Cozumel Cruise Terminal Cancelled

The Ministry of Environment and Natural Resources (SEMARANT) has canceled the environmental impact approval issued on Dec. 7, 2021, for the Cozumel Cruise Terminal project. The decision follows a review request filed by Cozumel residents who raised concerns about potential effects of the project on the island’s marine and coastal ecosystems. 

Mexico’s 2022 Sustainability Bonds Achieve UN SDG Goals

Mexico’s Superior Auditor of the Federation (ASF) has confirmed that the sustainable sovereign bonds (Bonos ODS) issued by the Ministry of Finance and Public Credit (SHCP) in 2022 achieved results aligned with the UN’s 17 Sustainable Development Goals (SDGs). The bonds raised a total of US$6.5 billion, of which US$5.1 billion was directed toward nine SDGs, including zero hunger; quality education; clean water and sanitation; good health and well-being; affordable clean energy; decent work; industry, innovation and infrastructure; sustainable cities; and life on land.

Decarbonization is Essential to Efficiency, Competitiveness

As global sustainability standards evolve, decarbonization will be essential to efficiency and competitiveness, says South Pole’s Miguel Chavarría in conversation with Mexico Business News.