Mexico's Congress and Senate passed the Climate Change Act in mid-April 2012, which is now awaiting President Felipe Calderon's signature to take effect. Mexico is the second country, after the United Kingdom, to pass a climate change law, and the first developing country to do so.<\/p>\n\n\n\n
The decree imposes a national obligation to reduce carbon emissions, stipulating that Mexico must reduce its carbon dioxide emissions by 30% by 2020 and by 50% by 2050. Furthermore, the proportion of renewable energy generation must reach 24% by 2024. The decree also regulates various policy tools to promote carbon reduction, such as renewable energy incentives, subsidies for phasing out fossil fuels, and carbon trading mechanisms, etc.<\/p>\n\n\n\n
The World Wide Fund for Nature (WWF) strongly supports the Mexican government's approach, believing that this law will make Mexico a model for emerging economies. Keith Allott, director of WWF UK, stated that with 40% of Mexico's population living in poverty, it demonstrates that the Mexican government and Congress have recognized global trends and that failing to curb carbon emissions and develop renewable energy will likely hinder the resolution of poverty.<\/p>\n\n\n\n