This week, we return to our ESG Development Heatmaps updates, focusing this time on the Mexican Consumer Discretionary sector. As we have done previously, we have focused only on (1) companies listed on the Mexican stock exchanges and (2) the materials publicly disclosed by those companies.
Source: Publicly available company materials.
What can we see in this heatmap?
1. Two new companies carried out materiality analyses during the year (Vasconia and Palacio de Hierro). Three more updated their existing materiality assessments.
2. None of the companies in this sector have published KPIs on all their material issues yet.
3. One more company set up a dedicated ESG team (Vasconia).
4. One additional company mapped its contributions to the SDGs (RLH).
5. Participation in climate change initiatives remains very low.
6. Three companies shared information on their social and environmental programs for the first time (Vasconia, Palacio de Hierro, RLH).
7. Two new reports were published under the GRI methodology (Vasconia and Liverpool).
8. Two companies shared SASB indicators for the first time (Liverpool and Nemak).
It was good to see that one of the companies that had not previously made formal ESG efforts in this sector made great strides this year (Vasconia). It was also positive to see other companies with strategies already underway making improvements (materiality analyses updates, alignment with international initiatives, among other things).
This sector remains relatively immature in the ESG strategy development process, but quite advanced (and this year even more so) in ESG communication strategies. We would like to see more in-depth strategy development going forward to have institutionalized sustainability efforts from several of these companies.
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.
CEO, Miranda ESG
Contacts at Miranda Partners