The Mexican Chamber of Deputies approved a far – reaching Climate Change Act by an overwhelming majority of 280 votes in favour, 10 against and 1 abstention. With a goal of cutting CO₂ emissions by 50 per cent by 2050, the act would make Mexico the second country, after the UK, to pass a dedicated climate change act and the very first developing economy to set legally binding emission reduction targets. The draft assigns to the Energy Secretary the authority to establish policies and incentives to promote the use of low-carbon technologies and to ensure that 24 per cent of electricity will be generated from Renewable Energy Sources (RES) by 2024. The act will also allow the government to introduce new RES incentives, cancel fossil fuel subsidies and introduce a national ETS in which companies will be able to participate voluntarily and trading CO₂ permits with countries with whom Mexico signs bilateral agreements.

The law will also create the National Institute of Ecology and Climate Change, a centralised agency that will address climate policies in Mexico. The approved version, which is strongly opposed by the Workers Party because of suspected risks of corruption in the creation of carbon credits, will now return to the Senate’s environment committee and full plenary for the final vote.

Read more on the latest issue of Climate Policy News, by Marinella Davide.

Photo by archer10 (Dennis) OFF.