Mexico is among the 110+ countries at COP28 that pledged to triple renewable energy capacity by 2030. However, the Lopez Obrador administration seems reluctant to embrace a genuine transition that focuses on renewable energy adoption and moving away from fossil fuels. Over the past five years, there hasn't been any progress in the expansion of renewables. Instead, there has been a strong push to revert back to fossil fuels, disregarding both environmental and economic factors, said Fernanda Ballesteros, who manages the Natural Resource Governance Institute's Mexico program.
Yet the government's current focus is on promoting Pemex, the state oil company responsible for 95% of the country's hydrocarbon production, driven by its goal of achieving energy independence and reducing oil and gas imports.
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