Mexico receives $1 million grant to mitigate climate change with sustainable transport
In the fight against climate change, Mexico will receive US$3 million from the Partnership for Market Readiness, a grant initiative from the World Bank to finance multiple mitigation strategies
Within the grant, sustainable urban transport will receive US$1 million, a victory for the proposal developed by EMBARQ Mexico with assistance from Banobras — the state owned development bank in Mexico — and PROTRAM (the Federal Mass Transit Support program funded by FONADIN). The transport proposal pushed by EMBARQ is one of three Nationally Appropriate Mitigation Actions (NAMAs) that comprise policies, programmes and projects to be undertaken by Mexico to contribute to the global effort to reduce greenhouse gas emissions.
The urban transport NAMA seeks to initiate an urban transport policy and create synergies between PROTRAM and the Program for the Transformation of Urban Transport (UTTP, Programa para la Transformación del Transporte Urbano) to create such policies.
The money allocated will be used to begin the first phase of the project, which addresses administrative barriers to be overcome through institutional strengthening and capacity building, as well as technical barriers, in the development of a program baseline and methodology for measurement, reporting and verification of the investments.
The decision was announced on March 13, during the 5th Assembly of the Partnership for Market Readiness (PRM). The World Bank established the PMR, a grant-based, global partnership to build readiness capacity for new and innovative GHG mitigation mechanisms.