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Mexico

EU Approves Projects to Promote Energy Transition in Mexico

In total, 14 projects have been approved with a joined budget of 73.5 million euros

INICIAN NEGOCIACIONES PARA MODERNIZAR ACUERDO GLOBAL, photo: Notimex
By Notimex Whatsapp Twitter Facebook Share
1 year ago

The European Commission (EC) approved new projects to contribute to the low-carbon emission transition in Mexico and Brazil, to which 7.5 million euros ($8.4 million) were allocated.

This decision is part of the Community Collaboration Instrument, which aims to promote the cooperation of the European Union (EU) with member countries and small- and medium-sized European businesses all over the world.

The EC has not provided details on the projects being developed in Mexico.

In total, 14 projects have been approved with a joined budget of 73.5 million euros.

In addition to the Mexican and Brazilian projects, the program will designate three million euros to plans for the progressive and sustainable elimination of substances that harm the ozone layer in six Latin American countries.

“These projects should also contribute to a greater acceptance of European green technologies and the creation of favorable conditions for international business within the EU,” EC said in a statement.

Another 10 million euros will support the creation of an emissions-quota limitations and exchange system in China, which should contribute to establishing an international carbon market.

The plan includes six million euros for China and 2.4 million euros for India to support water platforms. The EU aims to “increase opportunities for [European] companies,” in both countries.

Also five million euros will be set aside for improving cooperation between China, India, Japan, Korea and the Association of Southeast Asian Nations (ASEAN) regarding the competition policies “with the objective of improving investment opportunities for EU business in Asia.”

Additionally, 17 million euros will contribute to creating equal competition conditions for intellectual property rights in China, the ASEAN and Latin America.

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