Foreign Secretary Marcelo Ebrard and U.S. Special Presidential Envoy for Climate 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 global warming to 1.5 degrees Celsius, to ambitious action this decade, and to achieving net zero greenhouse gas emissions by 2050 in their respective economies.
The new efforts build on major announcements that Mexico has made jointly with the United States and Canada at the North American 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.
The Mexican government announced its intention to deploy more than 30 additional gigawatts of combined wind, solar, geothermal and hydroelectric capacity by 2030, reaching more than 40 gigawatts of combined wind and solar energy.
Mexico's recent commitments in renewable energy will be the foundation for achieving Mexico's updated Nationally Determined Contributions (NDCs), including an unconditional target to reduce emissions by 35% from business-as-usual levels by 2030. Presidential Special Envoy for Climate Kerry indicated his support for Mexico's new renewable energy goal, and stated that 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.
The Mexican government has also presented a preliminary investment plan to implement this renewable energy goal detailing up to $48 billion USD of investments.
