Foreign and domestic private sector, key driver of the energy transition in Mexico
Approximately 60% of the Mexican annual electricity generation, 282 TWh, still comes from fossil fuels and renewable energy accounts for just 16% of the energy mix. As energy sector companies’ trend towards asset divestment, STX Group champions a forward-looking strategy, attaining explosive growth in its renewable energy certificates business in just five years. This is thanks to the company’s portfolio of environmental commodity products, which is the largest in the environmental commodities sector. The company is familiar with the Mexican commodities landscape, thanks to its five-year track record of managing environmental opportunities and regulatory risks in Mexico. STX is the only firm in the sector to offer environmental products in all regions of the world.
In Mexico, the International Renewable Energy Certificates (I-RECs) coexist with the nationally created Clean Energy Certificates (CELs). STX is one of the few firms authorized to trade these certificates, the weight of which is expected to grow rapidly in the coming years: qualified consumers subject to the CELs system must comply at least 13.9% of their annual energy consumption with these instruments, with an increase expected in coming years.
“We at STX have over the years witnessed a rapid growth of traded volumes on the Mexican market. This indicates a growing interest in the environmental commodities and as one of the only companies allowed to trade the CELs in Mexico, we are market makers and well positioned to elevate the role of environmental energy certificates in Mexico,” says Julio Santiago, Head of STX Latin America.
STX Group brings a differentiated experience and vision for the Latin American markets
STX plays a central role in the global energy transition and offers tailored solutions for companies to decarbonize their operations through environmental products, including renewable natural gas (RNG), biofuels, carbon strategy and energy efficiency, among others. The company globally traded and promoted the annual generation of 450 TWh of renewable energy in 2022. STRIVE by STX, the corporate climate action division of STX Group, believes that the believes that to successfully achieve carbon neutrality requires a holistic decarbonization approach that encompasses energy efficiency, alternative fuels, renewable energy and emissions offsetting. STRIVE by STX provides an integrated approach to companies around the world and champions continued investment towards a more sustainable world.
“The rise of climate action in Mexico is driven by the private sector, which advocates for public policies in defense of the environment, seeks to reduce regulatory uncertainty, and contributes to an increasing amount of capital being directed towards modernizing energy-intensive industries,” says Marc Falguera, Co-Head of STRIVE by STX.