LATAM Roundup: Mexico eyes ETS as subnational CO2 taxes spread, Honduras targets Article 6
The administration of new Mexican President Claudia Sheinbaum last week stated it would prioritise operationalising the country’s long-delayed emissions trading system (ETS), potentially leading a recent wave of ETS plans in the region, though subnational CO2 taxes continue as the dominant carbon pricing mechanism in the North American country.
Read MoreMexico City, Morelos join growing list of Mexican jurisdictions with active CO2 tax
Two new subnational Mexican carbon taxes went into effect this month after appearing in official records for Mexico City (CDMX) and Morelos State in the final days of 2024.
Read MoreTailored climate finance policies seen key to emissions cuts, but barriers persist
Climate-related financial policies (CRFPs) have shown significant progress in reducing carbon emissions and boosting renewable energy production, particularly in advanced economies, though barriers remain in developing nations.
Read MoreLATAM Roundup: Region looks inward to meet mitigation goals, Colombia releases CO2 tax data
The new year is poised to springboard domestic compliance markets, regulated voluntary markets, and Paris Agreement projects in Latin America and the Caribbean – but sees reluctance to rely on Article 6 to be a main driver of mitigation – as the region builds internal capacity to launch green growth.
Read MoreSeveral countries to use international carbon markets to achieve Paris goals, while others keep options open
A handful of mostly developing countries said they intend to use the Article 6 carbon markets to help finance their Paris Agreement climate plans by 2030 — or are keeping open the option to do so, according to the first round of transparency reports to be submitted to the UN every two years.
Read MoreLATAM Year in Review: Carbon markets spring forward as major economies advance pricing schemes
Carbon Pulse rounds up the most significant carbon pricing trends and developments in the Latin America and Caribbean (LATAM) region for 2024, highlighting a diversifying and increasingly international markets landscape, as major regional powers, notably Brazil, took a big step forward in advancing mechanisms.
Read MoreMexican state to debut REDD+ strategy, publishes ART TREES concept note
The state of Yucatan in Mexico will soon decree a jurisdictional REDD+ (J-REDD) strategy and has published a concept note on the ART TREES registry for J-REDD projects, anticipating 2.4 million credits over a five-year crediting period.
Read MoreLATAM Roundup: Distress and opportunities as CORSIA, CO2 taxes, CBAM take root
In a week that saw UN civil aviation body ICAO publish its technical report on the flagship CORSIA offsetting scheme, which is being incorporated into national regulations around the world, this and other compliance carbon pricing initiatives posed diverse challenges and opportunities around the LATAM region – from Trinidad and Tobago to Guyana, and Mexico to Brazil.
Read MoreState of Colima approves second-highest CO2 tax in Mexico
The Mexican state of Colima approved a new carbon tax Tuesday, making it the ninth state in the country to adopt such a policy.
Read MoreMexico calls for $24 bln reforestation fund at G20 summit -media
Mexican President Claudia Sheinbaum called for the launch of a global reforestation initiative at the G20 Leaders’ Summit last week that, under her vision, could boast a $24 billion budget.
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