Mexican Foreign Secretary Marcelo Ebrard and U.S. Special Presidential Envoy John Kerry announced at COP27 in Sharm el-Sheikh important steps forward to address the climate crisis. The two countries affirm their commitment to global efforts to limit warming to 1.5 degrees Celsius, to ambitious action this decade, and to achieving net zero greenhouse emissions by 2050 in their respective economies.
The new efforts build on important announcements that Mexico has made jointly with the United States and Canada at the North America Leaders Summit (NALS) and subsequently over the last year, including a pledge by Mexico and Pemex to eliminate routine flaring and venting across oil and gas operations, supported by an implementation and investment plan of close to $2 billion USD, and a shared goal to achieve a 50% sales share for zero-emission vehicles in 2030.
Mexico intends to deploy more than 30 additional gigawatts of combined wind, solar, geothermal, and hydroelectricity capacity by 2030, reaching more than 40 gigawatts of combined wind and solar power.
This new national renewable goal will be a foundation for achieving Mexico’s updated nationally determined contribution, including an unconditional target to reduce emissions by 35% from business-as-usual levels by 2030. Secretary Kerry indicated his support for Mexico’s new renewable goal, and the United States intends to work closely with Mexico to achieve these ambitious goals, including through U.S. efforts to mobilize financial support and joint efforts to catalyze and incentivize investments into new Mexican renewable energy deployment and transmission.
Mexico has presented a preliminary investment plan to implement this renewables goal detailing up to $48 billion USD of investments.