Mexico City, Mexico, March 27, 2012—IFC,
a member of the World Bank Group, is helping Mexico’s financial sector
develop services that could encourage investments in renewable energy and
energy efficiency in a country that is one of the world’s largest emitters
of greenhouse gases.
Mexico has high potential for developing renewable energy, thanks to the
significant natural resources it enjoys for geothermal, wind, solar, and
hydro power. In recent years, prospects for developing these resources
have improved dramatically because of a more favorable regulatory landscape
and a strong national commitment to addressing climate change. But a financing
shortfall has hindered the development of this sector.
IFC’s Sustainable Energy Finance Program in Latin America and the Caribbean
works with financial institutions to promote opportunities in energy finance.
In Mexico, with support from the Global Environment Facility’s Earth Fund,
IFC seeks to increase private sector implementation of sustainable energy
projects by expanding access to finance.
“IFC brings a unique approach to addressing climate change,” said Roberto
Albisetti, IFC’s Senior Manager for Mexico and Central America. “We are
identifying ways to contribute to reduced greenhouse emissions through
energy efficiency, renewable energy, and cleaner-production initiatives.
Our engagement in Mexico shows our commitment to promoting climate-friendly
investment in the country.”
IFC has commissioned an assessment of sustainable energy finance in Mexico
to identify companies and sectors that face high energy costs and are likely
to have a strong economic interest in obtaining finance for sustainable
Working with the Mexican Association of Banks, IFC also conducted a survey
of 80 Mexican financial institutions to assess their level of experience
and interest in sustainable energy projects. The survey showed that nearly
95 percent of respondents have a strong interest in such projects, although
nearly 60 percent reported having no experience of lending for clean-energy
projects. Respondents identified dedicated lines of credit as the single
most important tool to allow them to better serve the market.
IFC organized conferences in Mexico City, Monterrey, and Guadalajara to
present ideas on how financial institutions can develop strategies to engage
in the sustainable energy finance market. Participants heard from experts
who shared experiences in financing and implementing sustainable-energy
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,