New Reforms Aid in Reaching Mexico's Climate Goals Christina McCain - Environmental Defense Fund
go to original March 30, 2014

With a new climate change law and President Enrique Peña Nieto's overhaul of federal oil and electricity monopolies, Mexico now has important opportunities to meet renewable energy and emissions reduction goals and grow its economy. (Edgar Alberto Domínguez Cataño)

Mexican President Enrique Peña Nieto’s major policy reform proposals, on everything from new taxes on soda pop to amending the 70-year constitutional prohibition on foreign investment in Mexico’s petroleum sector, have swept through that nation’s congress with breathtaking speed.

The reform agenda did not come as a surprise to anyone paying attention. Peña Nieto had campaigned on a platform of increasing economic growth and jobs through major (and controversial) reforms. The energy reform restructures and opens up Mexico’s federal energy monopolies to foreign investment — a major goal being to boost the country’s oil and gas production.

But in all the discussion of shifting the global energy map, a critical potential is being overlooked: The overhaul of Mexico’s federal oil and electricity monopolies also breathes new life into prospects for making the energy sector cleaner and opening the door to green growth in the long run.

Mexico now has important opportunities to meet renewable energy and emissions reduction goals and grow its economy.

Read the rest at EDF

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