This week, we are coming back to our ESG Development Heatmap updates, this time focused on the Mexican Transportation sector. 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?
- There were no new materiality assessments done during the year.
- Public disclosure of KPI goals is relatively frequent in this sector (especially compared to others). While no company has disclosed KPI goals for all its material topics yet, all companies but one have public sustainability goals for some of their material topics.
- Three companies in the sector reported TCFD-aligned analyses (vs. last year where no company in the sector was doing so).
- One company is now aligned with Science Based Targets (Grupo México Transportes). Last year none of them were.
- Three new companies became signatories of the UN’s Global Compact. This means now 62.5% of the sector is a signatory.
- Reporting under GRI and SASB also became more popular, with 62.5% and 50% of the sector, respectively, now reporting under these standards.
Overall, the Transportation sector continues to be relatively mature compared to others in terms of ESG development. Given this sector is so heavily exposed to climate change issues, it seems natural to see an increase in alignment with frameworks such as TCFD or Science Based Targets. Furthermore, as we have discussed in previous updates, SASB continues to gain popularity in Mexican sustainability reports as investors (both locally and internationally) have pushed towards greater adoption of its metrics. We are encouraged by seeing more goals setting and transparency and would expect to continue seeing improvement on this front in coming years.
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