Mexico finished in eighth place out of the 55 developing nations surveyed in Climatescope 2014, with a score of 1.57. When compared solely with Latin American and Caribbean countries, it finished in 4th place.
Mexico’s energy sector is being reformed to increase competition among generators and make it easier for private power producers to participate, for instance, through the end of the stateowned utility monopoly in the generation segment and creation of a spot market. There is a strong emphasis on increasing the country’s natural gas-fired generating capacity; nonetheless clean energy has an important role to play.
Mexico has the second-biggest economy in Latin America and the region’s second-largest clean energy market. As of 2013, it had 3.4GW of non-large hydro renewable capacity, representing 5% of the country’s 64.5GW total. More is set to come online: in 2013, a total of $2.2bn was invested in the sector, out of which $1.6bn was finance for new projects.
The country is also at the forefront of GHG management initiatives.
It introduced a carbon tax in January 2014 and is considering an emissions trading system. All of which will help Mexico achieve its 30% emission reduction target by 2020.