Mexico : Paving the Way for the Development of Emissions Trading
Mexico has made great strides recently in its fight against climate change. The enactment of the Climate Change Law in 2012 and its reform in 2018 led to the creation of a series of administrative and policy instruments to guide domestic action on...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/en/277591617603111324/Paving-the-Way-for-the-Development-of-Emissions-Trading-Report-for-the-Mexico-Partnership-for-Market-Readiness-Project http://hdl.handle.net/10986/35467 |
| Summary: | Mexico has made great strides recently
in its fight against climate change. The enactment of the
Climate Change Law in 2012 and its reform in 2018 led to the
creation of a series of administrative and policy
instruments to guide domestic action on climate mitigation
and adaptation. The development and implementation of this
agenda created new and different challenges involving the
design and adoption of new fiscal, economic, and
market-based instruments. Mexico opted for the development
of an Emission Trading Scheme (ETS) as its main instrument
to scale up climate change mitigation efforts. To address
design and implementation challenges, the country sought
avenues of international cooperation and technical
assistance, including by joining the Partnership for Market
Readiness (PMR). Established and managed by the World Bank,
the PMR is a grant-based, global partnership that provides
systemic support and funding for technical and institutional
capacity development and piloting of new and innovative
market-based instruments. This report presents the main
activities undertaken under the project and identifies the
main outcomes. Observed results confirm the important
contribution of this project to the Mexican development and
climate policy landscape, developing technical knowledge
products, practical tools and capacity building activities
that are shaping the design of the national carbon pricing
policy mix and informed the review of the NDC (submitted to
the UNFCCC in December 2020). The report is organized as
follows: section two outlines the country context prior to
the PMR project; section three outlines the project goals;
the implementation process and the key outcomes; and final
sections evaluate the impacts of the project in the country
and outlines next steps, lessons learned, and recommendations. |
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