New Law Helps Fight Climate Change in Mexico
Over the past few years, environmental issues have taken center stage in Mexico. Citizens and elected officials continue to look for ways to help build a more energy sustainable community. However, there is still work to be done to help Mexico’s ongoing environmental stewardship and combating climate change in Mexico. Mexico’s new president will hold a great deal of power in transforming Mexico into a clean energy economy, thanks to the country’s sweeping new climate law.
Outgoing President Felipe Calderón signed the legislation into law just days before June’s G-20 Summit in Mexico and the Rio+20 Conference on Sustainable Development. The new General Law on Climate Change allows Mexico to deploy economically efficient mechanisms (like the development of emissions trading) that offer enormous opportunities for reducing the country’s greenhouse gas emissions and could truly transform Mexico into a 21st century, clean energy economy.
The law is a landmark, as it sets large national targets for reducing emissions and the option to develop a domestic emissions trading system. With the implementation of this law, Mexico is taking a firm stand against climate change that would make it the second nation after the United Kingdom to institute legally binding carbon targets.
Mexico is a heavyweight in oil production and built their energy independence through offshore oil refining. Now with the growing confidence that renewable energy can spur economic growth, Mexico could become a world leader in alternative energy and environmental sustainability.