As the Kyoto Protocol winds down without a strong replacement, countries are implementing their own strategies to reduce global warming.
The Mexican legislature passed one of the strongest national climate-change laws so far on 19 April. Mexico, which ranks 11th in the world for both the size of its economy and its level of carbon emissions, joins the United Kingdom in having legally binding emissions goals aimed at stemming the effects of climate change.
After three years of debate and revisions, the bill passed in Mexico’s lower house with a vote of 128 for and 10 against, and was later passed unanimously by the Senate. The new law contains many sweeping provisions to mitigate climate change, including a mandate to reduce emissions of carbon dioxide by 30% below business-as-usual levels by 2020, and by 50% below 2000 levels by 2050.
Furthermore, it stipulates that 35% of the country’s energy should come from renewable sources by 2024, and requires mandatory emissions reporting by the country’s largest polluters. The act also establishes a commission to oversee implementation, and encourages development of a carbon-trading scheme. Although there was initial resistance from Mexico’s steel and cement industries, the bill passed with bipartisan support.
Mexico doesn’t have a *ot to *iss in, where are they going to get the money to do this? Perhaps from selling carbon credits to the embattled European scheme? Not so, Europe is suffering from a glut of carbon credits, and more credits from Mexico would drive down prices even further. Weird.
You have no imagination on what Mexico can do with its new climate laws. The will start “pot credits” that cost $500 per ounce and sell them to the rest of the world.
Does the new law notify their active volcanoes to reduce emissions?
Mexico can’t/won’t enforce their existing laws. This law won’t be enforced either although it may be a new avenue for receiving bribery by the Mexican authorities.