USAID seeks to design a new potential activity focused on supporting Mexican
actors' efforts in strengthening the voluntary carbon market system in Mexico.
Over the past decade, Mexico has demonstrated leadership in addressing climate
change through initiatives such as the General Climate Change Law (GCCL) enacted
in 2012 and the introduction of a carbon tax in 2014, a pioneering carbon pricing
mechanism in Latin America. In 2020, Mexico’s Ministry of Environment and
Natural Resources (SEMARNAT) expanded on these efforts with the launch of the
first emission trading scheme in Latin America. The purpose of USAID’s potential
new activity would be to identify and support policy levers and other measures
that could support a just and equitable expansion of the voluntary carbon market
in Mexico, aligning with climate objectives under the GCCL and the Paris
Agreement.