During his participation in the Carbon Pricing Panel as part of the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21),  President Enrique Peña Nieto stressed that:

“Mexico regards carbon pricing is an effective means of reducing greenhouse gas emissions and promoting the use of cleaner fuels.

In Mexico, a carbon tax was approved for fossil fuels with higher emissions than those of natural gas in 2013, and progress was made in the creation of a carbon market.

Mexico’s Commitments

The president explained that Mexico was the first developing country to present its Intended Nationally Determined Contribution (INDC), which includes, “Reducing greenhouse gas emissions by 22% per cent and carbon black emissions by 51% per cent by 2030.”

Moreover, the country has pledged to generate 35% of energy from clean sources by 2024 and 43% by 2030. Mexico also has a General Law on Climate Change.