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Mexico's Senate clears bill to fight climate change

Friday, April 20, 2012

Mexico's Senate passed a climate change bill aimed at encouraging a voluntary carbon emissions trading market, clearing the way for President Felipe Calderón to sign it, as expected, into law.

The measure gives the energy ministry authority to establish policies and incentives to promote low-carbon technologies, including a non-binding national emissions trading scheme in which companies can voluntarily take part.

The legislation sets out that participants in the future emissions market can trade CO2 permits with partner countries.

Source: Reuters