ESG Development in Food and Bev 2023 update

This week, we come back to our ESG Development Heatmaps updates, focusing this time on Mexican Food and Bev companies. As we have always done, we focused only on (1) companies listed on the Mexican stock exchanges and (2) the materials publicly disclosed by those companies.

Food and Bev

 Source: Publicly available company materials 

What can we read from this heatmap?

• Bachoco stands out as the only company to update its materiality analysis in 2023.
• FEMSA successfully approved and published its Science-Based Targets, becoming the fourth company in the sector to achieve this milestone.
• Bafar, FEMSA, and Coca-Cola FEMSA aligned with the TCFD framework, committing to greater responsibility and transparency in reporting the financial impacts of climate change on their businesses.
• Bafar also obtained external verification for its report and reported SASB standards for the first time.

This sector is becoming greener gradually. While there are still two companies that have yet to make significant strides in this area, most are recognizing the benefits of advancing and consistently adopting better practices.

Sustainability in the food and beverage industry is essential to ensure food security, protect natural resources, and meet the expectations of increasingly conscious consumers worldwide. This involves renewing practices across the value chain, from ethical sourcing and agricultural production to sustainable packaging and waste reduction. We hope to see further progress in this sector next year. Hopefully companies that are yet to embark on this journey recognize its value, despite having relatively illiquid shares.

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