Latin America Advisor
Energy Advisor
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How Realistic Are Mexico’s Climate Commitments?
Mexican President Andrés Manuel López Obrador (center) met with U.S. Climate Envoy John Kerry (left) to discuss Mexico’s plans to address global warming. // File Photo: @lopezobrador_ via Twitter.
The Mexican government on June 17 announced a list of 10 points to outline how the country will combat global warming. Just days earlier, Mexican President Andrés Manuel López Obrador met with U.S. Climate Envoy John Kerry to discuss the Latin American country’s energy efforts to address the issue, and Kerry urged López Obrador to accelerate his actions. What are the most important parts of Mexico’s plan to fight global warming, and how effective an effort will it be? What energy sources will be prioritized in the plan? What does Mexico’s new energy plan mean for energy companies in Mexico, as well as for domestic and international investors?
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Daniela Stevens, member of the Energy Advisor board and director of the Inter-American Dialogue’s Energy, Climate Change & Extractive Industries Program: “During the announcement, López Obrador took the opportunity to reaffirm his commitment to fossil fuels, which was telling in terms of the plan’s overall level of ambition. Three of the 10 points support the aim of self-sufficiency in gasoline, diesel and jet fuel. The only emissions reduction commitment is Pemex’s pledge to cut methane emissions by up to 98 percent. In 2021, Pemex’s methane emissions reached their highest levels in at least a decade, compromising Mexico’s commitments under the Paris Agreement and outpacing the company’s modest increase in oil production. However, Pemex’s commitment simply represents a vow to abide by existing gas flaring regulations, and aging infrastructure and a decades-long lack of maintenance pose challenges that the promised…”
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A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Erik Brand, publisher of the Advisor, at ebrand@thedialogue.org.
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