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ESG Development in Telcos & Media update

This week, we are coming back to our ESG Development Heatmap updates, this time focused on the Telcos and Media sector in Mexico. As usual, we only focused on (1) companies listed in the Mexican stock exchanges and (2) publicly disclosed materials. 


Telcos & Media 

Source: Publicly available company materials.


What can we see from this heatmap?

  1. Megacable published its first sustainability report and materiality analysis in 2021. With them, 63% of the sector has both.
  2. Axtel joined América Móvil and TV Azteca in reporting SASB standards. With this, 38% of the sector now reports these indicators. 
  3. Televisa and Axtel showed improvements in the presentation of KPIs for their material topics. However, they still do not have a complete set of indicators that cover all of them. 


The sector’s progress this year was relatively limited given that laggard companies have little interaction with investors (illiquid shares), and possibly therefore little incentive to deepen their efforts (or even publicly share additional efforts). Within the more advanced companies, it will be good to see if the materiality analyses that were done pre-pandemic are updated to ensure that the sector’s sustainability strategies are aligned with updated interests and needs. 

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.



CEO, Miranda ESG

Contacts at Miranda Partners

Damian Fraser
Miranda Partners

Marimar Torreblanca