April 2, 2021 | 5:00 am
Private companies with a presence in Mexico took advantage of a forum to support the global energy strategy, which goes against the Mexican one.
For those who plan to follow the industry trend, a lag in Mexican policy and regulations could lead them to abandon this market, which would have a direct impact on the arrival of foreign investment and on the national ability to create employment.
On Wednesday, the IEA-COP26 Zero Emissions Summit was held, with the participation of government figures and leaders of private initiative, with the aim of finding ways to work together to achieve the goals established in the Paris Agreement.
The event was attended by at least four executives of transnational companies with a presence in Mexico, such as the CEO of Eni, Hitachi ABB, Iberdrola and Enel.
Andrea Arias, an internationalist, explained that it is particularly significant that these companies have been betting for years on changes in their policies and in how they are going to invest, and that they are now present in this process of writing a roadmap.
Electricity is already today, and will continue to be, the basis of this transition. We can all be proud that power grids have proven to be so reliable during this pandemic. We can take this lesson to reflect on how to accelerate this transition and in the panel we have heard about the need to look for early implementations and not only towards 2050
said Claudio Facchin, CEO of Hitachi ABB Power Grids.
The manager highlighted the importance of transmission and distribution networks to enable an improvement in the generation capacity, flexibility and reliability of energy grids.
This statement significantly contradicts the electricity policy of the Mexican government, which has focused on limiting the entry of renewable energies to “improve this reliability.”
To keep the 1.5 degree goal within reach we have to work together and take immediate action.
Today, the IEA Zero Emissions Summit made clear the appetite of governments, civil society, and businesses to accelerate the transition to a clean economy.
To keep the 1.5 degrees target in sight we need to work together and take immediate action
Today’s @IEA – # COP26 #NetZeroSummit made clear the appetite from governments, civil society and businesses to accelerate the transition to a clean economyhttps: //t.co/bUsaAZM153
– Alok Sharma (@AlokSharma_RDG) March 31, 2021
Facchin also said that it is necessary to promote investments and accelerate the development of technology in the transmission and distribution sector.
In Mexico, the cancellation of two projects devised by the previous federal administration, and the need to use the earnings of CFE Transmission and Distribution to subsidize the costs of CFE Generación have been identified by analysts as the most important obstacles to investing in an exclusive activity of state-owned companies.
José Ignacio Sánchez Galán, CEO of Iberdrola, celebrated that the consensus on the need to achieve a zero emissions future has grown so rapidly among the different economies, and predicted that this will drive fundamental transformations in the economies of many countries, especially towards electrification massive.
“The COVID-19 crisis has sparked a global understanding that restoring previous economic models is not enough to bring a sustainable recovery, and that is why green energy is in the midst of stimulus packages around the world,” he said.
The manager also warned that countries need a clear and efficient energy plan that “stops investing in infrastructure that will be obsolete during our own lifetime, for example gas pipelines.”
The CEOs of both companies requested that countries strive to establish predictable and attractive regulatory frameworks, particularly to incentivize the construction of transmission and distribution infrastructure, which was identified by the IEA as “the backbone of green energy.”