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ESG Development in Mexican Consumer Staples & Healthcare

This week, we are sharing our ESG Development Heatmap for two new sectors in Mexico: Consumer Staples & Healthcare. As in the past, we only focused on (1) companies listed in the Mexican Stock Exchange and (2) publicly disclosed materials.

Consumer Staples



What can we read from these heatmaps? 

  1. Only one third of the Consumer Staples companies and one Healthcare company have done a materiality analysis.
  2. These companies with materiality matrices all share KPIs and targets for some of their material topics, but no company shares KPIs and targets for all their material topics.
  3. Half of companies in Consumer Staples and one in Healthcare have an dedicated team or committee for ESG.
  4. Half of the companies in Consumer Staples and half of the companies in Healthcare are aligned with the UN’s SDGs.
  5. Only one company in Consumer Staples (and no company in Healthcare) is aligned with TCFD.
  6. No company in either sector is aligned with Science Based Targets.
  7. 50% of the companies in Consumer Staples are aligned with CDP (no company in Healthcare is).
  8. One third of the Consumer Staples companies and one Healthcare company are signatories of the UN Global Compact.
  9. All Consumer Staples companies but one and 2 out of 4 Healthcare companies have published an integrated or sustainability in the past couple of years.
  10. 71% of these reports are done under GRI’s methodology.
  11. 43% of these reports are externally verified.
  12. No company in either of these sectors reports SASB indicators.


The Consumer Staples sector is above average in terms of ESG Communication efforts (almost all companies publish sustainability or integrated reports, all companies publish their Social programs information), but below average in terms of ESG Strategy development (only 2 companies have done materiality analyses). This seems to suggest companies are aware of the benefits of publicly discussing these topics when you are directly exposed to the general public as clients, but that the formalization of an ESG strategy probably needs an extra push (possibly coming from investors).

As for Healthcare, the most visible stock within the 4 public names (Genomma Lab) has clearly done more than the rest. Given the liquidity of the other names, we can see why this is the case. Hopefully over time the different stakeholders in this sector will also show more interest in seeing the companies become more open to developing a robust ESG strategy.

I hope you found this interesting. As usual, if there is anything we can help you with, please reach out.



Partner, Miranda ESG

Contacts in Miranda Partners

Damian Fraser
Miranda Partners

Marimar Torreblanca
Miranda ESG