Post by bhushraislam145 on Mar 9, 2024 0:01:53 GMT -6
Companies that equal or exceed the emission of 25,000 tCO₂e (tons of CO₂ equivalent) are required to submit their annual report through the National Emissions Registry (Rene).
According to Pablo del Arco Fernández, senior consultant for Sustainability and Climate Change at EY Mexico, this legislation seeks to involve the public and private sectors and civil society. In addition, reporting CO₂ emissions grants certain advantages to companies, such as detecting deficiencies in emissions, organizing processes, changing machinery, making certain processes more efficient—which translates into cost reduction—and generating more competitiveness.
Since June 2012, Mexico already had the General Law on Climate Change and other initiatives, which makes it the first developing country as a leader in political measures in the fight against climate change, derived from the law that brought together the Rene regulation that came into force on November 28, 2014 and legally obliges certain companies to report their emissions,” he explained.
The subjects required to report their direct and indirect Europe Cell Phone Number List emissions of greenhouse gases or compounds from all their facilities when they exceed 25,000 tons of CO₂ are the sectors and subsectors of energy, industry, transportation, agriculture, waste, and commerce and services.
In the case of the energy and industry sector, it must be reported for each facility as well as as a whole. The other sectors will only do the consolidated one.
According to the Ministry of the Environment and Natural Resources (Semarnat), the greenhouse gases or compounds to be reported are: carbon dioxide, methane, nitrous oxide, black carbon or soot, fluorinated gases, sulfur hexafluoride , nitrogen trifluoride, halogenated ethers, and halocarbons, and also includes mixtures of these gases and others identified by the IPCC and designated by the institution.
Emissions registration begins
As an extension, the first reporting period began this month and the deadline is next November 30; The companies must start working on it and by the only exception and for the beginning of the measure, the companies will only have to communicate the information from November 29 (that is, when the regulation was made official) and December 31, 2014.
The regulation is not retroactive, so it cannot force companies to report for all of 2014, only since it came into force. However, starting in 2016, all reports will have to communicate the complete year and the normalized calendar to publish the records between March 1 and June 30 of each year,” said Pablo del Arco Fernández.
The companies will upload their emissions to the Semarnat Web Annual Operation Certificate (COA Web) platform and the verification review opinion will be made by a third party.
On its official website, the agency published the “National Emissions Registry User Guide” to guide the parties involved on the process; Likewise, it will make available a calculator so that companies can estimate emissions.
The Rene also establishes the possibility of registering projects for the mitigation of compounds and greenhouse gases on a voluntary basis, which may obtain, after validation from Verification and Validation Organizations (OVV), emission reduction certificates that the reporting subjects may eventually used as a compensation mechanism for the payment of the carbon tax established in the Special Tax on Production and Services Law (IEPS).
Sanctions for omissions to Rene
For not complying in a timely manner with the integration of the CyGEI emissions report, a fine of 500 to 3,000 days of the general minimum wage (SM) in force in the year in the DF will be imposed, in addition to immediate compliance with said obligation.
For expressing false information and failing to comply with the deadlines and terms for reporting, the fine could be 3,000 to 10,000 days of the general minimum wage in force in the DF.