Mexico launches carbon trading platform

Wednesday, November 27, 2013

Mexico City bourse BMV has launched a carbon credit market, the first of its kind in Latin America.

MexiCO2, which was launched in collaboration with environment ministry Semarnat, the British Embassy and the UN Environment Program, will function like a standard carbon trading program.

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Firms receiving carbon credits through international programs, like the UN's Clean Development Mechanism (CDM), will be able to sell credits on the market. Firms owing carbon taxes, to be implemented under Mexico's recently approved tax reform, can reduce what they owe by purchasing credits on the market.

The structure of the carbon tax is still unclear but is expected to come into force in 2014.

MexiCO2 will also be a platform for socio-environmental campaigns, which will facilitate investment in clean energy and environmental projects.