Mexico's Energy Sector Is a Major Challenge for Mexico

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Most of our emissions have to do with energy and as you know we're a non-country. The economy is very based on fossil fields both for generating electricity and also in the transport sector. We export a lot of oil to the US and then the whole is refined there and they send it back to Mexico as gasoline so we've been trying to address that through building refineries here. In the energy sector is changing the chip from fossil fields and bringing more investment into renewables and clean energy.

In this episode of the ESG Insider podcast we’re continuing our exploration of the sustainable taxonomies developing in countries around the world.

Today we’re turning to Mexico, which announced a new sustainable taxonomy in March 2023. According to the Mexican government, the taxonomy is the first in the world to consider social objectives. Achieving gender equality is one of its major goals.

To learn more, we speak to Carlos Vargas, Professor of Finance at EGADE Business School in Mexico who has published research on sustainable finance. We also hear from Enrique Lendo, who is project coordinator for sustainable finance at the UN Environment Programme in Mexico City and an adviser to the Mexican government on the taxonomy.

“The Mexican taxonomy is unique if you compare it with the other taxonomies because it balances the social aspects and the social goals that Mexico has...with environmental goals,” he tells us.

And we talk to Valeria Dagnino Contreras, who is Latin American sustainability manager for the nonprofit Climate Bonds Initiative and who advised on creation of Mexico’s taxonomy.

“We're seeing it as a reference for the whole region because there's a big challenge that we need to tackle in general in how we go about understanding the inclusion of women in the labor force,” Valeria tells us.

Listen to our episode on global taxonomies here: https://www.spglobal.com/esg/podcasts/how-sustainable-taxonomies-are-going-global

Listen to our episode on the EU taxonomy here: https://podcasts.apple.com/us/podcast/defining-green-what-investors-need-to-know-about-the/id1475521006?i=1000531954636

Photo source: Getty Images

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