ESG Development in Commercial Services Supplies and Energy update

Hope you are doing well. Welcome back to our brief thoughts on ESG.

This week, we’re coming back to our ESG Development Heatmaps updates, focusing on two different sectors: Commercial Services Supplies and Energy. As we have always done, we focused only on (1) companies listed on both Mexican stock exchanges and (2) the information publicly disclosed by those companies.

Commercial Services Supplies

Energy

What can we read from these heatmaps?

Commercial Services Supplies

• There were no changes in either strategy or communication efforts.
• This remains a very underdeveloped sector with two companies that have highly illiquid stocks.

Energy

• Vista Energy updated its materiality analysis and strengthened its TCFD reporting standards in its 2022 sustainability report.
• Cox Energy has not yet published a sustainability or integrated report, but it has made some improvements on the environmental and social information disclosed on its website.

There wasn’t much improvement in these two sectors over the past year. We hope to see some progress in the years to come, especially in Energy (since Cox has now a dual listing in Europe as well).

I hope you found this interesting. As usual, if there is anything we can help you with, or if there is an ESG topic you would like to know more about, please let us know.

Best,

Marimar

CEO, Miranda ESG