Our ESG Development Heatmaps leaders and laggards

As in previous years, we have finished updating our ESG Development Heatmaps to show the progress in Mexican sustainability strategies. As we look into broader conclusions for the market, this week we would like to share some insights on leaders and laggards per sector with you. You can find last year’s Leaders and Laggards here, and 2020’s here, to see the changes over recent years.

Before we get into it, a quick reminder on 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 the stakeholders of 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 to grade. In our heatmaps we tried to avoid this by focusing on the process of developing an ESG strategy and the communication efforts of ESG initiatives. And in this compilation, we just focused on simple averages of how many things companies had done right in each category.

By only focusing on the process, we understand that companies that tick a lot of ESG development 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

How does this compare to last year?

The line-up stayed the same for many sectors, with some notable exceptions:

• Rotoplas caught up with Orbia as a leader in the Capital Goods sector.
• Kimberly Clark joined Walmex as a leader in Consumer Staples.
• Fibra Upsite and Fibra SOMA are now the only companies in the sector who haven’t started developing a sustainability strategy (or at least haven’t publicly shared it).
• Arca caught up with Coca Cola Femsa and Bimbo as a leader of Food & Beverages.
• Alpek, GCC, and Tenaris joined Cemex as leaders in Materials.
• Grupo México became the leader of Metals & Mining.
• Gentera caught up with Qualitas as a leader in the Other Financials sector.
• G. México Transportes joined GAP in the front seat of Transportation.

Mexico, ESG Communication Leaders and Laggards by Industry 

How does this compare to last year?

•  Santander became a leader in Banks.

• Palacio de Hierro showed progress in its ESG communication leaving the Laggard group.

• Fibra Shop joined the leaders in FIBRAs.

• Herdez caught up with FEMSA as a leader in the Food & Beverages sector.

• CYDSA, GCC and Tenaris joined Cemex as leaders in the Materials sector.

• Axtel caught up with América Móvil as a leader in Telcos & Media.

• Traxión became a leader 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