Country Context & Primary Activities for PMR Support
Mexico’s General Climate Change Law, passed in 2012, creates an unprecedented legislative mandate to transition towards a competitive, sustainable economy that generates environmental, social and economic benefits. Internationally, Mexico pledges to reduce up to 30% of its emissions by 2020 compared to its baseline scenario, dependent on international support and participation in external markets.
Exploring opportunities with new market mechanisms
Mexico is helping to define the role of new market mechanisms by leading the design of crediting Nationally Appropriate Mitigation Actions (NAMAs), which enhance the scale of their emissions reduction activity, address entire sectors of the economy and allow the development of a series of co-benefits like the development of national capacities.
The PMR will support...
- Design an MRV framework and the institutional design of three crediting NAMAs; and
- Development of a NAMA tracking tool to record transactions and emissions reductions—key for the prevention of double counting and to ensure transparent accountability.
Source: PMR Market Readiness Proposal submitted by the Mexican Ministry of Environment and Natural Resources, February 2013