ESG Development in Mexican Capital Goods Update

This week, we come back to our ESG Development Heatmaps updates, focusing this time on the Mexican Capital Goods sector. 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.

Capital Goods

Source: Companies’ publicly available materials

What can we read from this heatmap?

• ALFA and Kuo updated their materiality analyses and, for the first time, incorporated double materiality principles.

• GISSA reported progress toward SBTi targets last year, but this year’s report provides no update.

Overall, this was a year of little change, with disclosure levels similar to prior years. Looking ahead, 2026 will be a pivotal year for sustainability reporting in Mexico so we expect to see more moves. Companies that move early are likely to be better positioned to meet market expectations.

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