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ESG Development in Mexican Food & Bev

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

Food & Beverage 


What can we read from these heatmaps?

  1. 42% of these companies have done a materiality analysis, but only 16% of them have done so in the past 3 years.
  2. Three companies share some of the KPIs and the KPI goals they use for some of their material topics, but no company in either sector share KPIs and KPI goals for all their material topics.
  3. Half of companies in this sector are aligned with the UN’s SDGs and are signatories of the UN Global Compact.
  4. No company in this sector is aligned with TCFD.
  5. Only 1 company in this sector (Coca Cola Femsa) is aligned with Science Based Targets.
  6. One third of the companies in this sector are aligned with CDP.
  7. 75% of these companies have published an integrated or sustainability report at least once (and therefore share their social and environmental initiatives); two thirds of these companies have published a report in the past couple of years.
  8. 77% of these reports are done under GRI’s methodology.
  9. 55% of these reports are externally verified.
  10. No company in this sector reports SASB indicators.

The Food & Bev sector still has a lot of room for improvement in terms of ESG development. While most of these companies are open in terms of reporting, we would have expected to see more materiality analyses (and more updated analyses) overall.

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