The U.S. and Mexican governments have signed a technical collaboration agreement on sustainability and climate change whereby both nations will implement the Binational Cooperation Program of Climate Change Towards 2016, which represents an investment of nearly $70 million over the next five years.
The program will be led by the U.S. Agency for International Development (USAID) and the Mexican Secretary of Environment and National Resources (Semarnat). Civilian organizations and the private sector will also be participating in the program.
The $70 million investment will be divided between two programs:
- USAID's Mexico Low-Emissions Development Program (MLED). This initiative will support Mexican efforts to develop and implement a low-emissions development strategy and strengthen systems for monitoring, reporting and verification of emissions across all emitting sectors of the economy. MLED will also promote the widespread adoption of clean energy technologies and best practices through the development of energy policies, financing mechanisms, and institutional and technical capacity in Mexico.
- The United Nations' REDD+ Program. This effort aims to create a financial value for the carbon stored in forests, offering incentives for developing countries to reduce emissions from forested lands and invest in low-carbon paths to sustainable development. Beyond deforestation and forest degradation, the REDD+ Program also includes the role of conservation, sustainable management of forests, and the enhancement of forest carbon stocks.