ESG Heatmaps Leaders and Laggards

This week, as in the past, since we have fully updated our ESG Development Heatmaps, we are sharing an overview of the leading and lagging companies by sector for the 2024 reporting season.

Before diving into the details, let’s revisit the purpose of our ESG Development Heatmaps. Comparing ESG performance across companies from different industries—or even among companies within the same industry but with different business models—can be quite challenging. In the ideal world, companies should focus their sustainability efforts on their material topics, which are the issues most relevant to their stakeholders. As a result, some companies will demonstrate greater maturity in certain ESG areas than others. Consequently, when assessing companies using specific ESG criteria, there is an inherent bias toward industries more closely aligned with those criteria. Our heatmaps aim to minimize this bias by focusing on both the development of an ESG strategy and the communication of ESG initiatives.

It is also true that meeting ESG criteria does not automatically equate to effective integration of sustainability principles into daily operations. Conversely, companies that don’t meet the criteria could still perform exceptionally well in their ESG efforts, although they might fall short in their communication strategies. Thus, what we show here is not a rating of how sustainable (or un-sustainable) an operation is. It is only a reflection of whether they have followed the steps we check for (and whether they have communicated it appropriately).

Without further delay, we extend our congratulations to all the companies listed as leaders in the tables below!

Mexico – ESG Strategy Development Leaders and Laggards by Industry

Source: Miranda ESG

How does this compare to last year?

While the line-up stayed unchanged for many sectors, there were some notable exceptions: 

• Orbia joined Rotoplas as a leader in the Capital Goods sector.   
• Cemex continues as leaders in Materials.  
• Fresnillo caught up to the leaders in Metals & Mining with Grupo México and Peñoles.  

Mexico – ESG Communication Leaders and Laggards by Industry

Source: Miranda ESG

How does this compare to last year?

• Grupo Carso joined the leaders in the Capital Goods sector.  
• Planigrupo joined Vesta and Vinte as leaders of the Commercial Services Suppliers.
• Macquire, Fibra Nova, and Fibra Prologis improved their ESG communication efforts.
• Bafar, Coca-Cola Femsa, and Herdez caught up as leaders in the Food & Beverages sector.
• CYDSA, GCC, and Tenaris joined Cemex as leaders in the Materials sector.
• Aeroméxico and Volaris joined the leaders in the Transportation sector.

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