Shar-el-Sheikh

Mexican Foreign Minister Marcelo Ebrard said in COP27 summit on Saturday that Mexico will strengthen its emissions-cutting efforts as part of a $48 billion renewable energy investment scheme with the United States.

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The minister said that Mexico will cut greenhouse gas emissions by 35 per cent by 2030. This is up from previous commitment of 22 per cent.  

The plan would require funding from both the public and private sectors this decade to double clean energy generation in Mexico.

It will "accelerate the energy transition in North America", Ebrard told a press conference at the UN climate summit in Egypt alongside US climate envoy John Kerry.

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Kerry said Mexico had indicated a "significant step forward", noting the announcement was part of a three-way negotiation including Canada.

Neither official specified the amount of US financial support for the scheme.

Ebrard said it would require "double the clean energy efforts and investment efforts in the next eight years" compared to the original plan presented in 2020.

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(With inputs from agencies)

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