MEXICO AND THE UK STRENGTHEN COOPERATION TO REDUCE CO2
LONDON, United Kingdom, 4th March 2016.- In order to reduce carbon dioxide (CO2) emissions and stimulate projects to mitigate climate change in Mexico, two missions of representatives of public and private institutions exchanged points of view with their British counterparts, enhancing bilateral cooperation.
The project "Green Bonds Mexico: channelling private investment into the low carbon economy” organised from 29th February to 2nd March financial and business representatives and financial institutions were informed about the British experience in market development called "green bonds" through a working-programme which included meetings with key players in this market.
Since April 2015 the Mexican Carbon Platform MEXICO2, the Mexican Stock Exchange and the British Embassy have been working to develop the local market for "green bonds" to facilitate the transit of Mexico to a low carbon economy. The development of this instrument will channel resources to developing projects in Mexico, dedicated to mitigate and adapt to climate change.
From 2nd to 4th March, another group of representatives from the public, financial and industrial sectors, visited the UK to share the experience on measures from the public sector to facilitate the financing and implementation of projects for low carbon development. The mission, coordinated by the British Embassy, Prosperity Fund, and the government of Mexico, had the participation of representatives of Secretary of Energy (SENER), Secretary of Finance and Public Credit (SHCP), Secretary of Environment and Natural Resources (SEMARNAT), ProMexico, NAFIN, National Association of Solar Energy and the FCO.
At a reception for both missions in the Official Residence of the Government of Mexico, Ambassador Diego Gomez-Pickering recalled that our country has been leader of the initiatives to promote sustainability and accelerate the global transition to renewable energy.
In parallel, the "Low Carbon Business Action" project was presented in Mexico on 3rd March with the aim to support the establishment of cooperation agreements between European and Mexican companies to implement technologies able to reduce carbon dioxide emissions (CO2).
The project, funded by the European Union, seeks to contribute to the reduction of CO2 in the country, providing business opportunities for domestic companies and institutions and also the EU in the sectors of energy efficiency, waste management and wastewater treatment and has the goal to establish 40 cooperation agreements by September 2017.
With measures such as the aforementioned, Mexico aims to achieve the objective of migrating from 27% to 35% the generation of clean energy sources by 2024.