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Mexico to spend $23 billion to cut greenhouse gases

Staff writer ▼ | December 10, 2015
Mexican government said it will invest $23 billion to cut greenhouse gas emissions from gasoline by 90 percent and cut several tonnes produced by four facilities.
Enrique Pena Nieto
Ecology   President Enrique Pena Nieto announced:
While world governments held climate talks in Paris, President Enrique Pena Nieto's office announced $3.1 billion to reduce sulfur content in gasoline produced at six refineries of state-run firm Pemex. The project is to be completed at six refineries in early 2016.

Another $3 billion will be spent at three refineries and a gas processing plant so that they can produce their own electricity, cutting 3,000 tonnes of greenhouse gases per megawatts generated each year.

The facilities will produce more than 2,300 megawatts of electricity in total, equivalent to the power generated for one million homes, the government said.

The government will also spend $13 billion to increase its capacity to process crude oil and another $3.9 billion to reduce the need to import diesel with low sulfur content.

Mexico was the first developing country this year to submit targets for the United Nations climate conference, pledging that its greenhouse gas emissions will peak in 2026 before falling.