Author picture

Leaders and Laggards in ESG Development in Mexico

This week we are sharing the leaders and laggards for ESG development by sector using the data we collected for our ESG Development Heatmaps.

Before we get into it, a quick reminder on how we envisioned our ESG Development Heatmaps. Measuring and comparing ESG performance in companies in different industries (or even within the same industry but with different business structures) is no easy task. Ideally companies must focus on their material topics (i.e., the sustainability topics that matter the most to that particular company in that particular industry). Therefore, it is only natural some industries will have made more progress in some ESG topics than others. So, if you try to compare them all with the same ESG topics, you will have a bias towards the industries that are more exposed to the topics you chose as the relevant ones. In our heatmaps we tried to avoid this by focusing more on the process of developing an ESG strategy and the communication efforts of ESG initiatives.

Having said that, by only focusing on the process, we understand that companies that tick a lot of ESG boxes are not necessarily truly implementing ESG in day-to-day operations. Also, companies that do not tick such boxes, may in fact be doing great ESG things. But as we have said in the past, we are strong believers in making ESG policies and practices as transparent and measurable as possible.

So, without further ado, congratulations are in order to all the leaders in our tables below!


Mexico – ESG Strategy Development Leaders and Laggards by Industry

Mexico – ESG Communication Leaders and Laggards by Industry


We look forward to seeing what progress 2021 will bring in the different industries. We see how many companies are making an effort and heading in the right direction, and we also see how some initiatives (like cuasi-mandatory ESG disclosure in the stock exchange or AFOREs ESG integration processes) will probably create an additional wave for those who are still undecided.

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