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On Tuesday 20th March, Canning House was delighted to welcome representatives from climate change think-tank E3G and the Mexican Secretariat of Energy (SENER) to discuss sustainable finance initiatives in Mexico as part of the country's transition to a low carbon economy.
Andrea Paniagua Borrego, Senior Policy Advisor at E3G, presented a report recently produced by the think-tank which puts forward a proposal for the creation of a green investment agency in Mexico. Such an agency would build on the groundwork laid by Mexico's climate change law and accelerate its transition to a low carbon economy by providing a more coordinated approach and wider pool of resources. 2018 is a particularly timely year to be discussing such a project, as Mexico will both be updating its climate targets, and electing a new president before the end of the year.
Nelson Mojarro, SENER representative to the EU, gave an overview of where Mexico stands in its transition to a low-carbon future. Estimated population growth and urbanisation trends highlight the need for a strategy that will take into account a shift in demand in services such as housing, transportation and energy. It was emphasised that Mexico is particularly forward-looking where green legislation is concerned; it was one of the first countries in the world to implement a Climate Change Law, as well as an Energy Transition Law, with changes implemented not only in legal framework but also at the constitutional level.The Q&A was chaired by Cristina Cortes, Canning House COO. Questions from the audience touched upon a variety of subjects, including the potential impact of the presidential elections on Mexico's climate policy, and the ways in which the UK could collaborate with Mexico in its transition to a green economy.
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