The Getting to Zero Coalition has pitched Mexico as a potential hub for zero carbon shipping fuels.
The country has the resources to produce the fuels, location to distribute it, strong economic ties throughout the western hemisphere and government policy focused on cutting emissions, according to a study from the green group put together by consultancy Ricardo and the Environmental Defense Fund.
"The shift towards zero carbon shipping needs to accelerate within the next decade and effective regulation will also create opportunities for countries to catalyse and benefit from this necessary transition," said Panos Spiliotis, climate change shipping manager at the Environmental Defense Fund.
"By moving early, Mexico can become a central actor in supplying the global demand for green fuel and attract investment of $7bn to $9bn by 2030."
The study found Mexico has the potential to generate 854 terawatt-hours per year of renewable energy on the low end, easily meeting both the domestic energy demand of 600 terawatt-hours per year forecasted for 2030 and the 12 terawatt-hours per year needed for 5% adoption of zero carbon shipping fuels by 2030.
To develop the infrastructure to support that 5% adoption, as much as MXN 188bn ($9.4bn) of investment would be necessary, creating jobs across skill and education levels and providing energy security.
The study focused only on green ammonia, green hydrogen and renewable energy utilising batteries.
In order to realise the investment, Ricardo, the Environmental Defense Fund and Getting to Zero said the Mexican government needed to build on the policies already in place to cut greenhouse gasses by 22% by 2030.
South Africa too
The study was the second from Getting to Zero and follows a report highlighting South Africa's potential as a hub. It also believes Indonesia could serve the same purpose in Asia and the Pacific.
South Africa makes a similar case to Mexico, with access to key shipping routes and high potential for zero carbon fuel production.
That study was published in June and was also authored by Ricardo and the Environmental Defense Fund.
