Biden to announce new initiatives on curbing methane, zero-emissions vehicles at international climate meeting
CNN
Mexico is among the world's biggest gas flarers and even Pemex has acknowledged its poor environmental, social and governance (ESG) record, which could affect its financing as competitors transition to clean energy. As Pemex has historically neglected investing in infrastructure to produce gas and condensate, it's now facing the consequences of its choices.
After acknowledging the existence of this problem, Mexico and Pemex are taking decisive steps to tackle the excessive flaring. A $2B investment plan to reduce the amount of gas lost as well as a cooperation agreement with the Environmental Protection Agency to provide diagnosis and economic analyses have been announced in line with the government's vow to protect the environment.