Mexico leading race against climate change
Mexico has taken a forerunner’s position in the race against climate change by committing to implement a very ambitious program backed by the Interamerican Development Bank (IDB).
The $400 million programme is focused on mitigating green gas emissions and giving strength to climate-related institutions in the country. This is the second loan approved by the IDB to support Mexico’s green agenda.
“Mexico is one of the very few developing economies that are adopting emission reduction targets in advance of the U.N.’s Copehangen conference on climate change in December,” said Juan Pablo Bonilla, chief of the IDB’s Sustainable Energy and Climate Change Unit. “The government has set targets that could lead to an 18 percent drop in emissions by 2012, putting Mexico at the vanguard of the global movement to curb emissions.”
Furthermore, earlier this year, Mexico became the first country in the world to submit an investment plan under the World Bank’s Climate Investment Fund (CIF) to ensure funds for an energy efficiency program to implement housing and wind power projects.