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To achieve global goals, the mobilisation of public and private resources is key. The participation of financial institutions, banks, institutional investors, corporations and capital markets play a crucial role in aligning financial flows with sustainable and green finance.

For this reason, it is essential to provide investors with information on activities that contribute to meeting climate change and natural resource conservation objectives. Green or sustainable taxonomies are designed as classification systems with criteria and indicators to classify different economic activities according to their contribution to climate change mitigation and adaptation, or to the sustainability of the country. In other words, it classifies funds according to their objectives, thus giving certainty to the market, avoiding green and social washing. Thus, the creation of green, sustainable or climate finance taxonomies helps in this process and becomes the foundation of a green financial system. The financial sector must consider environmental issues – in particular climate change – as inherent to its business and continuously conduct risk and opportunity analyses related to the environment and climate.

This guide seeks to draw on the experiences of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, through the Mexican-German Climate Change Alliance, in developing two processes for the creation of taxonomic classification systems for finance; one with the banking sector through the Association of Banks of Mexico (ABM), focused on green assets; and the other with the Government of Mexico, in the identification of economic activities and a methodology for defining metrics and thresholds for the country’s sustainable financing taxonomy. The objective is to share with other countries the lessons learned and best practices for implementing and operating a classification system for economic activities that contribute to sustainability and/or climate change within their country.

Consult the Guide for Creating a Green and Sustainable Finance Taxonomy: Lessons Learned from Mexico’s Government and Banking Sector, click on the following image:

After four years in Mexico, the Financing Low Carbon Infrastructure in Cities (FELICITY) project closes its activities with a bang in June 2022, by holding stakeholder sessions with representatives of the municipality of Naucalpan, the government of Mexico City and the Investment Unit of the Ministry of Finance and Public Credit (SHCP). During the sessions, the documents produced during the technical assistance with the counterparts were officially handed over.

FELICITY also co-organised the third virtual dialogue culminating in the Green and Inclusive Finance Festival 2022. This is the graphic report of the FELICITY session:

Graphic memory of the session “History of Change Generated by FELICITY” at the Green and Inclusive Financing Festival 2022 © GIZ México / Reilly Dow, 2022

The video Felicity in one word was launched, which integrates the perspectives of several FELICITY partners around the world.

As a legacy of FELICITY, the document Story of Change generated by the FELICITY Global Project in Mexico was prepared, and the free online PreP course remains, which is still open and continues to allow the registration of new users interested in learning more about the preparation of low carbon projects:

For more information on FELICITY’s next steps globally, contact Itzel Alcérreca: itzel.alcerreca@giz.de y felicity@giz.de

The General Hospital Dr. Enrique Cabrera, in Mexico City (CDMX), now has a solar water heater system benefiting patients, medical staff and hospital staff in general. The use of the solar thermal system also helps reduce greenhouse gases (GHG) and thus mitigate climate change, in addition to providing social and economic co-benefits to the hospital and promoting a green and inclusive recovery.

The inauguration took place on May 23, 2022, the head of the Secretary of the Environment of Mexico City (SEDEMA), Marina Robles García; the head of the Ministry of Health of Mexico City (SEDESA), Oliva López Arellano; the Political Counsellor of the German Embassy in Mexico, Simone Franke; and the Coordinator of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH Climate Team, Philipp Schukat; among other personalities.

SEDEMA, SEDESA, Modulo Solar, German Embassy in Mexico, GIZ Mexico at Hospital Gral. Dr. Enrique Cabrera

The Sustainable Hot Water in Public Hospitals project emerged in 2020 as part of the efforts of the German Federal Ministry for Economic Cooperation and Development’s (BMZ) develoPPP programme to mitigate the effects of the crisis caused by the global pandemic. This was possible through the collaboration between develoPPP and the Mexican company Módulo Solar, with the FELICITY program, part of the International Climate Initiative (IKI).

This Solar Water Heating system helps mitigate local polluting emissions and reduce operating costs. The SWHS provides hot water at low cost in the hospital; it is estimated that with this project there will be a reduction in greenhouse gas (GHG) emissions of 52 tonnes of CO2 eq/year: the equivalent of the emissions of charging the full battery of 6.2 million cell phones. This project joins the efforts to reduce energy consumption and promote energy efficiency, as well as generate cleaner and renewable energy in hospitals that focused their attention on treating patients with COVID-19 during the pandemic

Hospital Gral. Dr. Enrique Cabrera’s Solar Water Heating System Inaguration Event / © GIZ, 2022

Likewise, with existing technical information and methodologies, a Roadmap is expected to be generated, allowing the project to be replicated in more public buildings.

“DeveloPPP and FELICITY are making technological advances a reality, to move towards a more sustainable city,” Environment Minister Marina Robles García recognised at the inauguration.

This sum of efforts allows us to continue promoting the construction of sustainable buildings and cities with a low carbon footprint to benefit us all.

Read the press release from the Ministry of the Environment of Mexico City on the official page: https://bit.ly/3yVZ4Vr

On March 30, 2022, Gabriela Niño, technical advisor of the Mexican-German Climate Change Alliance, implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, accompanied by the National Commission of Compliance (CONACOM), carried out the forum “International Cooperation on Climate Financing Between Mexico and Germany“.

International cooperation on climate finance between Mexico and Germany / © CONACOM México, 2022

In his opening speech, Ernesto Infante, coordinator of the Public Compliance & ESG Committee, pointed out the economic and commercial importance between Mexico and Germany, as well as the parallel interests between these two countries regarding issues such as transparency, corruption, accountability and intersectoral communication in government.

Later, Gabriela Niño mentioned that the main objective of GIZ Mexico is to provide technical assistance within the framework of alliances, agreements and international governance in accordance with international agendas–specifically, the Sustainable Development Goals (SDGs) of the 2030 Agenda and the Paris Agreement, as well as the development of digital tools, and the development of capacities and transmission of knowledge.

In this sense, Gabriela explained that help would be provided in the adoption of a National Climate Change Policy through Mexico’s climate change adaptation and mitigation commitments; intersectoral communication of the government’s different levels; the acceleration in the use of sustainable energies; creating resilient infrastructure; the integration of the private sector, and the development of a post-COVID-19 recovery plan.

Finally, it was mentioned that the climate financing agenda has been taking place in Mexico since 2015, as a result of the international rapprochement between financial and environmental sectors. Thus, GIZ Mexico, in coordination with the Association of Mexican Banks (ABM) and other associations that bring together various financial sectors, have worked on several green finance issues, including the analysis of the sensitivity of bank portfolios and the green bonds market; how far the Mexican government is prepared to engage in climate financing; workshops on climate risks and green taxonomies for the banking sector in Mexico; the socialization of climate change risk information , and the benefits of an adequate financial policy.

The second edition of the Green and Inclusive Financing Forum, organised by GIZ Mexico, took place on September 23 and 24 2021. This virtual forum brought together leaders who formulate financing projects with representatives of public and private organisations from Mexico and the surrounding region, in order to generate a multi-stakeholder meeting and dialogue space. With the participation of 48 speakers from around the world, the forum aimed to promote a critical analysis of the key aspects of sustainable finance and a practical application of existing tools and methodologies.

Within the framework of this event, the discussion “Bridging the Gap in Project Financing” took place, in which five women panellists exchanged their knowledge and experiences on the subject. In particular, Alexandra Linden, Director of the Financing Energy for Low-Carbon Investment – Cities Advisory Facility (FELICITY), shared some of the lessons learned and future scenarios in the face of the global crisis.

Graphic report of the Conversation “Closing the gap in project financing”, Pinkfish, 2021.

With a view to a sustainable recovery, the FELICITY programme accompanies and advises low-carbon infrastructure projects, acting as a bridge between the latter and financial intermediaries. In the Virtual Forum, an overview was given of the two programmes that FELICITY accompanies in Mexico City and the municipality of Naucalpan de Juárez.

Alexandra Linden and Mara Eichinger during the conversation “Closing the gap in project financing”, FELICITY, 2021.

We share a summary of this financing meeting in Spanish and English.

You can consult the official page of the 2021 Financing Forum and the repository with the reports and presentations of each paper, as well as learn more about the key aspects of sustainable finance and its practical application in each of the presentations and discussions that took place on the two days of the 2021 Forum.

Day 1 (09/23/2021):

Day 2 (09/24/2021):

During the 11 sessions that addressed the topic of preparing successful investment projects (PreP), 2,149 attendees participated, covering 18 countries and 674 people enrolled in the online course, with 352 women participating.

PreP webinar series. FELICITY México and CONVERSA-CONGREXPO.

The sessions were held from September 2 to November 11, 2020, in a joint effort between the Global FELICITY Program and various programs related to climate finance and low-carbon projects in cities where GIZ participates –as well as government agencies, and national, regional and international organizations. The webinar series was held with the purpose of promoting the realization of sustainable and resilient projects, as well as closing the gap between low-carbon urban infrastructure projects and the financing required for their implementation.

In addition to the webinars, the PreP includes an online course that complements the information shared by the specialists. Also, those who complete the course obtain a certificate.

This online course remains open and continues to allow enrollment of new users interested in learning more about low carbon project preparation. In addition, it is completely free. You just have to register at: https://www.ccfla-prep.org/. For more information, contact Miguel Fernández: miguel.fernandez@giz.de.

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