Mexico has pledged to deploy a further 30 gigatonnes of renewable energy capacity by 2030, consistent with a statement issued by the country’s Foreign Ministry on Monday because the country cooperates with the US to fulfill new climate goals by doubling renewable energy sources.
Foreign Minister Marcelo Ebrard traveled to Egypt for the COP27 climate summit, where he met with US climate envoy John Kerry and presented Mexico’s plans to take a position of $48 billion in renewable energy development over the weekend.
To double all renewable energy sources
The new solar, geothermal, wind and hydroelectric capacity would quite double Mexico’s renewable capacity, which was around 30 GW at the top of 2021, and bring solar and wind capacities to 40 GW.
This new national renewable goal will function as the foundation for Mexico’s updated nationally determined contribution, consistent with the ministry, which comes just every week after Mexico announced that it would raise its emissions reduction target for the first time since 2016.
At least half of zero-emissions vehicles
The new targets also involve Mexico, a serious auto manufacturing hub, to sell 50% zero-emission vehicles by 2030.
The US said it welcomed the plan and would work closely with Mexico to encourage investment and support plans to scale back methane emissions. Mexico has put aside $2 billion to eliminate routine flaring at the state oil company Pemex.
After satellite data revealed massive amounts of gas flaring and methane leaks, Pemex said Saturday it might collaborate with the US Environmental Protection Agency to develop an emissions-cutting plan in the first half of next year.
Cooperation with US on renewable sources
The US embassy in Mexico said Monday that it’s forward to further cooperation with Mexico, emphasizing that efforts would respect each country’s sovereignty.
The US, the world’s second-largest emitter of greenhouse gases, is in talks with Mexico about tighter state control of its energy sector, which the US claims unfairly impedes private renewable projects.
Last week, Ebrard told a press conference that Mexico needs to ramp up clean energy production faster than the US to meet the demand for goods made with more environmentally friendly inputs.