ESG Development in Mexican Food & Bev update

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

This week, we come back to our ESG Development Heatmaps updates, focusing this time on the Mexican Food and Beverage 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.

Food and Beverage

Source: Companies’ publicly available materials

What can we read from this heatmap?

• Bachoco discontinued its alignment with CDP.
• Bafar, Coca-Cola FEMSA, FEMSA, and Gruma updated their materiality analyses.
• FEMSA initiated alignment with CDP.

Overall, year-over-year change in the sector remained relatively limited in what already is a relatively mature sector. This year, as we have mentioned in previous weeks, we expect to see a bigger jump in lagging companies with the regulatory introduction of ISSB reporting.

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