Projects

The Financing for Climate Action in Mexico (FINACC) project aims to enhance Mexico’s regulatory and financial frameworks to mobilise climate finance. From 2022 to 2025, the primary goal of the project is to improve Mexico’s financial system by making it more conducive to investments in climate action.
Working closely with the Ministry of Finance, central bank, and Ministry of Environment and Natural Resources, the project seeks to align public-private investments with national climate goals. This includes introducing innovative financing mechanisms, digital tools, and capacity building with a focus on gender equity and just transition.
This initiative is crucial for Mexico to bridge the financing gap in its climate agenda, to meet its Paris Agreement commitments, and make a significant contribution to the global effort to combat climate change.

The project is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).

Decision-makers and public employees of financial regulators and supervisors and financial institutions.

Beneficiaries are final borrowers and investees (companies, public institutions, households) and savings and loan cooperatives.

The FINACC project, launched in September 2022 will continue until September 2025. It has had a significant impact through the following activities:

• Festival de Financiamiento Sostenible (26–29 June 2023): Organised with the Secretary of Finance and Public Credit (SHCP), this event attracted 1,296 participants and more than 10,000 live stream views, indicating strong interest and engagement in sustainable finance.
• CIIGEF (Interinstitutional Committee for Gender Equality in Financial Entities): The project’s support in establishing and shaping the CIIGEF has been vital to promoting opportunities for gender equality and financial inclusion in Mexico’s financial sector. This initiative represents a significant step towards equitable and inclusive financial practices.
• Evaluación de la Banca Múltiple: The project improved the evaluation system of the banking sector, integrating financial inclusion, gender, climate, and sustainability – all essential for the SHCP to analyse and optimise the financial system.
• Climate risk modelling: In collaboration with Banxico, FINACC supports the refinement of the CLIMRISK climate analysis model and initiated a pioneering climate scenario pilot project for 10 financial institutions.
• Taxonomy implementation: The project supports the SHCP in the practical application of financial taxonomy, crucial for regulation and implementation, in partnership with CONSAR.
• TCFD workshops: In 16 workshops with 77 participants, FINACC facilitated the adoption of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, broadening the understanding and implementation of climate-related financial disclosures.
• Financiamiento Cooperativo para la Sostenibilidad: In alliance with INAES, the project held eight workshops with 31 credit cooperatives on sustainable financial instruments and developed a guarantee fund for these cooperatives.