Who’s reporting what kind of emissions in Mexico today?

This week, we want to continue with the topic of Greenhouse Gas (GHG) inventories. After previously discussing how to identify emissions sources and convert them into standardized data formats, it’s time to take a look at how many companies are currently reporting GHG emissions in Mexico—and how.

This landscape is set to change significantly starting next year, when ISSB-aligned sustainability reporting becomes mandatory for many companies.

So, who’s reporting what kind of emissions in Mexico today?

• Scope 1 emissions have been reported by 82 companies to date—representing roughly two-thirds of the publicly traded universe. Remember this scope includes direct emissions from owned or controlled sources, such as fuel combustion in company facilities or vehicles.
• Scope 2 emissions, which cover indirect emissions from purchased electricity, are reported by nearly all companies that disclose Scope 1 data. This is expected, as Scope 2 reporting is pretty standard if you are already looking into your Scope 1 inventory.
• Scope 3 emissions—which account for indirect emissions across the value chain, from suppliers to end-users—are far less commonly disclosed. Only 51 companies have reported any Scope 3 data. This drop-off is not surprising given the complexity of Scope 3 estimation, the need for broader data collection, and the methodological challenges involved.
• Data generation and assurance practices are still evolving. Approximately 90% of Scope 1 and 2 emissions data is calculated in-house, with only 10% being produced with the support or verification of third-party advisors. For Scope 3 emissions, nearly all estimates appear to be internally developed. Even if companies do receive external support, this is not explicitly disclosed in most reports.

As companies in Mexico prepare to align with the ISSB’s climate disclosure standard (IFRS S2), we expect to see improvements in both the quality and completeness of emissions data, particularly for Scope 3. External assurance and methodological transparency will also become increasingly important, not just for compliance, but to build investor trust and demonstrate climate risk management maturity.

Stay tuned—we’ll continue tracking how these disclosures evolve and what companies can do to close the reporting gaps.

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