Sustainable Economic Transformation and Sustainable Finance Global Project: Mexico

Table of contents

Sustainable Finance in Mexico
Our Activities in Mexico
Products

Our activities in Mexico are part of the Global Project Sustainable Economic Transformation and Sustainable Finance

Sustainable Finance in Mexico

Mexico, like many other emerging economies, faces a dual challenge: addressing the adverse impacts of climate change while reducing the country’s social and economic gaps. Among Mexico’s environmental hazards, its high exposure and vulnerability to climate change stand out—driven by its geography, demographics, and productive structure. As a megadiverse country and given the direct link between climate variability and biodiversity loss, biodiversity finance plays a crucial role for the country. Mexico’s wealth of natural resources and ecosystems forms an essential component of its natural capital, and biodiversity loss poses considerable risks to both the economy and its population. The financial sector plays a key role in addressing social and environmental challenges by mobilising capital and transitioning towards more sustainable business models.

In recent years, several actions have helped position the country as a regional leader in sustainable finance. Notable measures include strengthening debt markets and promoting innovative financial instruments. However, to further scale up sustainable finance, policy, regulatory, monitoring, ESG reporting, and awareness-raising actions across relevant institutions are needed to support the transformation of the financial system.

Mexico’s Sustainable Finance Mobilization Strategy (EMFS), launched in 2023 by the Secretariat of Finance and Public Credit (SHCP), aims to direct public and private capital toward environmentally and socially sustainable projects. It focuses on creating an enabling environment for sustainable activities and projects to access low-cost financing, enhance ESG disclosure, promote the development of innovative financial instruments, and support the implementation of the Mexican Sustainable Taxonomy.

As of 2025, the strategy is in its early implementation phase, with progress on sustainable financing instruments and regulatory frameworks, while monitoring and full-scale adoption across the financial system is still progressing.

Our Activities in Mexico

Our work in Mexico is organised around four strategic lines that support the integration of sustainability and biodiversity considerations into the financial system.

1. Integrating biodiversity into Mexico’s Sustainable Taxonomy
To strengthen the role of biodiversity within Mexico’s Sustainable Finance Strategy, the project supports the integration of a Biodiversity Objective and Technical Screening Criteria (TSC) into the Mexican Sustainable Taxonomy. This includes the coordination of a Technical Expert Group (TEG), stakeholder consultations, technical validation and the update of the Taxonomy.

2. Mobilising private capital for nature through innovative financial instruments
The project supports the design and issuance of FIRA’s inaugural Biodiversity Bond (2026) and develops complementary tools and guidance to help financial institutions integrate biodiversity and natural capital considerations into their investment and lending decisions.

3. Strengthening sustainability disclosures and ESG practices
To improve data availability and risk management, the project supports capacity-building for banks and listed companies on the implementation of ISSB Standards, and provides tools for assessing GHG emissions (Scope 1, 2, 3), including financed emissions.

4. Building capacities for sustainable finance
The project supports the Mexican financial sector through training and advisory activities, including:

PRB Academy trainings (2023–2026)
Development of an e-learning course on sustainable finance in cooperation with the Mexican Banking Association and CMFS (2024),
Advisory for selected financial institutions to integrate sustainability into their operations, including E&S risk management and double materiality assessments (2025–2026).