Daniel Madariaga. The Ministry of Finance and Public Credit (SHCP) has raised an alarm for the country, informing that Mexico needs to mobilize 1.7 trillion pesos annually until 2030 to address climate change and move toward sustainable development.
Rogelio Ramírez de la O, the SHCP Secretary, explained that this amount represents 7% of Mexico’s Gross Domestic Product (GDP). To ensure the success of this transition, a significant change is required in the allocation of financial resources, both from the public and private sectors, toward economic activities and projects that generate low carbon emissions and have a high positive social and environmental impact.
The resource mobilization process is already underway in Mexico, with the consolidation of the sustainable debt market, which has managed to mobilize 722 billion pesos to date.
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This effort involves the federal government, subnational levels of government, as well as development banks and the private sector. Furthermore, 10 sustainable bonds have been issued in euros, dollars, and yen, in both national and international markets, with a value exceeding 240 billion pesos.
A significant milestone in this process is the adoption of sustainable taxonomy in Mexico, which has facilitated responsible investments from an environmental and social perspective.
The rapid acceptance of this taxonomy has led various financial institutions, both public and private, to align their assets with this framework, demonstrating a growing commitment to sustainability.
Ramírez de la O emphasized that actions such as linking the public budget with sustainable development goals, issuing green credits and guarantees, and investing in strategic sustainable infrastructure projects are key components of the financing mobilization strategy.
This strategy is being coordinated by the SHCP and has the support of institutions both inside and outside the financial system, with the goal of driving economic growth for the benefit of both the population and the environment.
Daniel Madariaga is a well-known environmental advocate and researcher from Mexico. He has gained recognition for his work on sustainability and the relationship between environmental policies and social justice. His efforts focus on addressing the challenges posed by climate change, resource management, and the protection of natural ecosystems.