Last week, EcoAct Business Development Executive for the Americas, Vittoria Zaniboni Morán, attended the Mexico Carbon Forum 2024 in León, Guanajuato. She described it as ‘the most comprehensive forum I have ever participated in.’ This year’s event centered on advancing the Latin America climate agenda by bringing together key decision-makers and stakeholders from state, national, and international levels. EcoAct’s parent company, Schneider Electric, was a sponsor at this year’s forum.
As carbon pricing tools gain global traction, the forum explored the evolution of the voluntary carbon market as well as emerging markets such as biodiversity credits, regulated markets, emissions trading systems (ETS), and international frameworks such as Article 6 of the Paris Agreement.
This forum provided a platform for discussing trends, transparency, innovation, and strategies that support the transition to a sustainable, low-carbon economy. With over 3,500 people registered, it brought together a diverse array of stakeholders, including local communities, project developers, investors, governments, and NGOs.
The forum delved into critical topics shaping the global carbon landscape. Among these were the regulated and voluntary carbon markets, blue carbon, biodiversity credits, and the use of artificial intelligence in measuring and reporting emissions. The conversations were not just theoretical but also deeply rooted in practical progress.
Notably, the forum highlighted the strides made by several Mexican states, such as Tamaulipas and Querétaro. These states have successfully implemented internal emissions systems characterized by clear rules and robust dialogue with the business community; demonstrating a model of how local governance can lead the way in climate action. Additionally, the Mexican government continues to advance in the implementation of an Emissions Trading System (ETS), ensuring all relevant stakeholders are involved in the process.
The Mexico Carbon Forum also highlighted progress in other Latin American countries, such as Ecuador, which launched its “Programa Ecuador Carbono Cero” (PECC) or “Ecuador Zero Carbon Program” to incentivize climate action in a transparent and sustainable way.
One of the most challenging topics discussed was blue carbon projects in Mexico. Among these, mangrove conservation projects particularly face significant hurdles due to unclear regulations and the lengthy process of obtaining permits and authorizations for restoration and conservation practices, often taking 2 to 3 years for approval. This delay directly impacts communities that depend on ecosystem restoration for economic development.
Despite these challenges, the forum highlighted several nature-based projects delivering positive impacts on local communities, ecosystems, and biodiversity. Technological innovations aimed at improving transparency between investors and landowners were prominently featured, showcasing the potential for tech-driven solutions to enhance project permanence and governance trust. Project developers, who bring these ideas to life, are working tirelessly to build the technology and internal capacities needed to enable communities to manage and sustain these projects in the long term. However, governance challenges persist in forest projects in Mexico, underscoring the need for ongoing efforts in regulatory refinement and stakeholder engagement.
Mexico’s role as a leader in climate action was evident throughout the forum. The standout work of MEXICO2, the Mexican Carbon Platform, was particularly impressive. This organization is at the forefront of promoting carbon markets, demonstrating that environmental and climate protection can be harmonized with economic development. Their efforts are a testament to Mexico’s commitment to leading by example, offering valuable lessons to the rest of the world.
The Mexico Carbon Forum 2024 was marked by optimism and enthusiasm, signaling a strong resurgence in the carbon market despite recent scrutiny. The forum emphasized that the market is regaining momentum, with an upward trend now evident. Stakeholders, particularly investors, have become increasingly sophisticated, demanding more rigorous information when evaluating projects.
It was inspiring to see the collective efforts aimed at removing funding barriers to accelerate ecosystem conservation and restoration, thereby empowering local communities to create lasting impact. At the project level, it’s crucial to address both technical and commercial aspects in tandem, especially for Nature-Based Solutions (NBS) projects, where local stakeholders are involved over extended periods. While technical expertise is critical to initiating a project, commercial acumen becomes indispensable as the project enters the market. Ensuring project permanence requires strong governance and commercial management skills within local communities.
Technological innovations, coupled with clear regulations and robust certification standards, will be key in bridging the gap between landowners, markets, and investors, ensuring the permanence and competitiveness of these projects.
At EcoAct we are a team of experts that can help your organization reduce emissions and commit to your climate goals. We have partners in countries across the globe, including Mexico & LATAM, that are readily informed of environmental regulation updates, such as Article 6, and are frequently reevaluating their approach to the voluntary carbon market. Our goal is to help companies invest in carbon projects that make a meaningful difference for both the environment and local communities generating robust co-benefits. Please get in touch with our Nature and Tech based solutions team if you are interested in developing your own ARR (Afforestation, Reforestation & Revegetation), Blue Carbon project, or any other nature-based solutions project worldwide.
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