Mexico is quickly emerging a global leader in addressing a variety of environmental challenges to support the fight against climate change and develop sustainable energy resources. Over the past several years,Mexico has been working to harness the abundance of private sector investment opportunities within its borders that are connected with the green movement,such as wind and solar energy.
Demonstrating Mexico’s commitment to clean energy,outgoing President Felipe Calderón has stated that,“the only way to grow is to grow green.” Calderón has backed this statement up by consistently promoting the topic of climate change and green growth on an international level at meetings such as the 2012 G20.
Cancun,Mexico,also hosted a series of international climate change talks in 2009 and between 2006 and 2011 the country’s private sector invested more than $5.8 billion in clean energy. As a result,today Mexico real estate is home to a vibrant wind power market and has also made significant strides in developing its solar power capabilities,with the potential to become among the greatest in the world.
Also of note,in October of this year,the Mexican senate voted a Climate Change Law into effect,which commits the nation to reducing greenhouse gas emissions by 30 percent over the next eight years. This commitment will provide significant support for Mexico’s renewable energy sector and will involve increasing its renewable power from current levels of around three percent,to more than 35 percent over the next decade.
To achieve the goals outlined by the Climate Change Law,an estimated $76 billion will be required to finance clean energy,water,infrastructure and agricultural sustainability measures. The Mexican government is expected to invest around $25 billion,while the remaining amount will come from the private sector,with the help of public finance agencies such as the Green Growth Alliance.