Mexico Passes Climate Change Law
The Mexican legislature has recently passed a climate change law. As reported in Nature, the new that will reduce emissions of carbon dioxide by 30 percent below business-as-usual levels by 2020, and by 50 percent below 2000 levels by 2050. The law also mandates that Mexico will derive 35 percent of its electricity from renewable resources 2024. The climate change bill passed Mexico’s lower house with a vote of 128 for and 10 against and in the Senate the legislation passed unanimously.
The strong support in both the house and the Senate suggests the Mexico’s legislators are not concerned about the country’s fossil fuel industry. According to U.S. based petroleum consultancy DeGolyer and MacNaughton, the country sits on the world’s third-largest petroleum reserves.
This legislation is much needed as Mexico is both the world’s 11th largest economy and
11th largest GHG emitter.
The next hurdle will be ensuring that this legislation is acted upon. “We’re very good at making laws. And then the problem is enforcing them,” Juan Bezaury, a Mexican public policy expert with the Nature Conservancy, told Nature.
Richard Matthews is a consultant, sustainable investor, writer and owner of The Green Market Oracle, a leading sustainable business blog that covers the convergence of sustainable capitalism and the global environment.The Green Market is one of the most comprehensive resources for information and tools on sustainability. Follow The Green Market's twitter feed and see the Facebook Fan Page. Richard is a contributor to more than 50 publications. Find him on Facebook and Linkedin.
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