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Mexico places its stakes on the carbon market

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Reducing amounts of CO2 is critical if we want to combat climate change and the carbon market is an excellent initiative for emissions to be reduced by means of contracts for the purchase and sale. This is also known as carbon credits and involves a company’s ability to lower its own CO2.

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Presently, there are two types of carbon markets. First of all, we find those whose compliance is regulated and where companies and the government, as is the case in Europe, must produce the results of Greenhouse Gas Emissions (GHG). Secondly, we find the voluntary market where it is possible to buy carbon credits in proportion to the tons of CO2 that is produced as a result of projects under development. This is also where the purchaser avoids producing by means of a sustainable Project and/or renewable energies.

A carbon credit refers to a company’s ability to reduce its CO2 emissions.

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Initially, Mexico’s carbon market has been launched by means of a pilot program where participation is voluntary. We will have to wait until 2018 for the  carbon market to be formally implemented in the country, under the responsibility of the Secretary for the Environment and Natural Resources (Semarnat) and the Mexican Stock Exchange(BMV). Such initiatives make up the commitments that were adopted at the first universal agreement on the fight against climate change that was held at the Conference of Parties in Paris (COP21).

MéxiCO2 is the county’s platform by means of which these instruments are to be commercialized, therefore achieving a reduction of greenhouse gases that is estimated at 22% by the year 2030 and 50% by 2050.

Mexico will become the first country in Latin America to have a carbon market.

It is worth noting that Mexico currently ranks 11th in the list of countries producing greenhouse gas emissions, and therefore by taking part in this initiative a major step forward is being taken, in addition to becoming the first country in Latin Americathat has a Carbon Market Implementation. Furthermore, at the recent COP22 in Marrakech, Mexico was one of the first countries to present a climate commitment strategy up to the year 2050, that was drawn up in conjunction with the United States and Canada.

Our very own GHG Management System was created at Abengoa Mexico and has been in use since the year 2008, with which we can get the carbon footprint of our products, services and all of our company’s activities, thereby strengthening our commitment to the environment. The system is based on an internal policy and has been homologated in accordance with international standards (ISO-14064). From the very start it has been audited by an external and independent body and the results have been published in the Carbon Disclosure Project (CDP) since 2009.

Roberto Rodríguez Puertas. Strategy, Marketing and Communication Director, Abengoa Mexico.

Roberto Rodríguez Puertas. Strategy, Marketing and Communication Director, Abengoa Mexico.

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