Americas News
Mexico Could Gain From Shipping's Energy Transition: Report
Mexico has the potential to become a global leader in green fuel production and bunkering but doing so will require quick and strategic action, according to a new report.
The Global Maritime Forum report explores the potential for the country to benefit from international maritime decarbonization.
Central to the process is Mexico's access to the Pacific and Atlantic Oceans, well-established shipping routes and trade relations with multiple continents.
"Mexico can tap into new markets and establish itself as a global energy hub and provider of green fuels," the report said.
"[Green shipping demand] is an opportunity to take advantage of its renewable energy potential and proximity to major shipping activity to become a producer and provider of future fuels," said Alison Shaw, a shipping analyst at UCL Energy Institute.
"Yet Mexico also has an opportunity to harmonize its domestic energy focus with its international climate representation and create a policy landscape that facilitates transition investments and innovation, while meeting many of its sustainable development goals," according to Shaw.
Developing green fuel infrastructure to serve Mexico's shipping sector could attract significant investment, of up to MXN$37-53 billion ($1.9-2.7 bn) in onshore infrastructure by 2030, according to the report.
Shipping's energy transition: strategic opportunities in Mexico is published by GMF and University College London.
