Mexico starts carbon market simulation
On 20 October 2017, the Mexican Secretariat of Environment and Natural Resources (SEMARNAT) announced the start of a national carbon market simulation in cooperation with the Mexican Stock Exchange (Grupo BMV) and MéxiCO2 (the voluntary carbon platform at the BMV). The simulation will be implemented through CarbonSim, a software developed by the Environmental Defense Fund (EDF) that demonstrates the functioning of an allowance market.
Over 100 enterprises, which are responsible for two thirds of the Mexican greenhouse gas (GHG) emissions will participate in the simulation. The simulation, which is funded by the British Embassy in Mexico and the Partnership for Market Readiness of the World Bank, aims to strengthen the capacity and readiness of Mexican businesses to participate in a future national ETS.