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ESG Development in Mexican Transportation

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



What can we read from this heatmap?

  1. All companies but one have published a sustainability or integrated report in the past three years and have a dedicated ESG team or an ESG Committee.
  2. 75% of this group has done a materiality assessment at least once and 62.5% has a materiality assessment that is not over 3 years old.
  3. More companies in this sector than any other sector before have publicly communicated some sort of KPI goals for at least some of their material topics, but no company has published goals for the KPIs for all of its material topics.
  4. All companies but one have mapped its ESG efforts to the UN’s SDGs.
  5. No company in this sector has committed to support TCFD or the Science Based Targets efforts.
  6. Only three companies (37.5%) are aligned to CDP.
  7. Only two companies (25%) are participants of the UN Global Compact.
  8. As we have seen in other sectors too, corporate governance info is available across the board.
  9. All companies but one share their efforts in terms of social impact and environmental efforts.
  10. All companies who published a sustainability or integrated report followed GRI, albeit most of them loosely. Only two have external verification for their reports.


Overall, the Transportation sector seems to be ahead of others in terms of ESG development. It is interesting that a sector that is relatively close to climate change issues is not more aligned with TCFD, Science Based Targets, and CDP. However, we would expect this to come as KPI goals are formalized and more investors engage companies on these topics.

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