Ebrard announces at COP27 a new cut in emissions and investments in clean energy in Mexico

Mexico will increase its cut in greenhouse gas emissions from 22% to 35% by 2030, as part of a joint investment project in renewable energy with the United States that will require 48 billion dollars, he announced this Saturday at a press conference The chancellor Marcelo Ebrard.

“President López Obrador has decided to expand the national objectives from 22% to 35% for the reduction of greenhouse gas emissions, to accelerate the energy transition in North America,” explained Ebrard, accompanied by the special envoy for the climate of the United States. United, John Kerry.

That means “doubling efforts over the next eight years compared to the original plans for this decade,” Ebrard added.

“With the support of the United States, it is estimated that an additional investment of approximately 48 billion dollars will be required between 2022 and 2030, which will be mobilized from the public and private sectors,” the Mexican foreign minister calculated.

Neither Ebrard nor Kerry specified an amount of US financial support for this task, which will involve “double the generation capacity of clean energy in Mexico”he assured.

This energy impulse will represent “thousands of jobs and the acceleration of the new Mexican green economy,” added Ebrard.

It is the only way to keep up with the needs” for clean energy in the coming years, he emphasized.

“This is a huge and significant change from where Mexico was before,” Kerry added, explaining that the announcement was part of a three-way negotiation, including Canada.

The three countries are partners in the renewed North American Trade Agreement (T-MEC).

“This is a vision, not just an announcement,” Kerry added.

The announcement, which will involve a large renewable energy project called Sonora on the US-Mexico border, “will be one of the most important topics at the next summit” of the three partners next month, Ebrard added.