Mexico now is embarking on a comprehensive strategy to cut emissions and reduce energy use while also potentially putting the Mexico economy on a low carbon growth path.
In December 2008, Mexico announced it had set the goal of reducing greenhouse gas emissions to 50% below 2002 levels by 2050.
The plan will get a $500 million boost from a new Clean Technology Fund (CTF) supported by eight governments, managed by the World Bank, and administered by the World Bank Group and other multilateral development banks.
Mexico has recognized it will be heavily impacted by the effects of climate change, say Ricardo Ochoa, Head of the International Affairs Unit of the Ministry of Finance.
“The good news is it has decided to act accordingly. That means that despite not being a significant contributor to greenhouse gas emissions globally, it wants to send a signal it’s important to take action,” he said.
The $500 million fund from the Clean Technology Fund endorsed in January will boost the country’s efforts on cleaner urban transportation, energy efficiency, and renewable energy, especially wind power.
Transport is thought to be responsible for 18 percent of Mexico’s greenhouse gas emissions and it has increased by 27% between 1990 and 2005 and now account for about 2% of the global transport sector’s greenhouse gas emissions while continuing to grow at an annual rate of about 2%.
The plan is to shift to efficient, low carbon bus rapid transit systems and light rail, and to retire old buses and replace them with lower carbon alternatives.