Mexico's National Banking and Securities Commission releases tools to help issuers meet sustainability disclosure obligations aligned with IFRS S1 and IFRS S2

Mexico's National Banking and Securities Commission (CNBV) presented a set of support tools intended to help issuers comply with sustainability disclosure obligations under the General Provisions applicable to issuers of securities and other securities market participants (Circular Única de Emisoras). The materials are designed to support disclosure aligned with the IFRS Sustainability Disclosure Standards IFRS S1 and IFRS S2 issued by the International Sustainability Standards Board (ISSB) of the IFRS Foundation. The package includes a guidance document for preparing a sustainability report that explains core concepts and the four pillars of the IFRS Sustainability standards (governance, strategy, risk management, and metrics and targets), incorporating ISSB references and educational materials. It also includes a self-assessment tool to evaluate how sustainability and climate risks and opportunities are integrated into business management under IFRS S1 and S2, and a digital platform, “Sustainability Route”, which aggregates resources to promote the incorporation of environmental, social and governance criteria across Mexican financial system participants. CNBV developed the tools with support from the UK PACT programme of the UK Embassy in Mexico and the Global Green Growth Institute (GGGI).