Mexico’s Ministry of Finance and Public Credit published a Report of Results and Recommendations from the pilot programme for the Mexico Sustainable Taxonomy on its Sustainable Finance Platform, summarising how participating institutions applied the taxonomy to a representative sample of financial operations and setting out barriers, opportunities and recommendations for both authorities and market participants. The pilot, supported by the Global Green Growth Institute through the UK PACT programme, involved ten key financial institutions spanning commercial and development banks, pension funds (Afores), insurers, issuers and investment funds, whose associations represent 94 percent of total national financial system assets. Of 96 operations assessed, 3 percent met the full requirements to align with the taxonomy and 13 percent were mostly aligned but required verification in key areas, particularly the Do No Significant Harm principles and Minimum Safeguards. Recommendations were grouped across five strategic areas covering origination processes, reporting, monitoring, capacity building and regulatory changes.
Ministry of Finance & Public Credit (Mexico) 2025-01-15
Mexico's Ministry of Finance and Public Credit publishes Mexico Sustainable Taxonomy pilot results with only 3 percent of reviewed operations fully aligned
Mexico’s Ministry of Finance and Public Credit released a report on the pilot programme for the Mexico Sustainable Taxonomy, highlighting results and recommendations. The pilot, involving ten major financial institutions, found only 3% of assessed operations fully met taxonomy requirements, with 13% mostly aligned but needing further verification. Recommendations focus on origination, reporting, monitoring, capacity building, and regulatory changes.