Mexico concludes carbon market simulation
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The first carbon market simulation in Mexico concluded on 28 June 2018. The simulation brought together more than 100 Mexican companies stemming from numerous economic sectors, such as electric power, hydrocarbons, aviation, mining, forestry, consumer goods and financial institutions, among many others. The companies represented two thirds of Mexico’s greenhouse gas emissions. The exercise had the objective of strengthening the capacity and readiness of Mexican businesses to participate in a future Mexican emissions trading system (ETS), which is currently scheduled to begin its pilot phase in 2018 or 2019.
Details are likely to be determined in the months to come, especially once the new national administration takes office in December following the general election on 1 July 2018. Although details are yet to be defined, campaign proposals by President-elect Mr. Andrés Manuel López Obrador included references to carbon markets.