The Importance of Social Aspects in the Mexican Taxonomy

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The Mexican taxonomy is different to other previous taxonomies, mainly because it was designed to incorporate not only environmental aspects, but also social aspects from the beginning. The EU had a very, very relevant influential role into how the Mexican taxonomy was designed. A lot of the structure and the highlights that are included in the taxonomy took a look at what was learned there, and perhaps also what was learned in other places like Colombia.

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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