As of this year, the companies operating in Mexico shall integrate into their financial reporting information related to sustainabilityin accordance with the Sustainability Reporting Standards (NIS), issued by the Mexican Board for Research and Development of Financial Reporting Standards (CINIF).
This regulatory change seeks to align the corporate reporting with the environmental, social and governance criteria (ESG).
The new framework, which will be mandatory as of fiscal year 2025, provides for the presentation of comparative data with the previous year, except in its first year of implementation, and sets 30 Basic Sustainability Indicators (IBSO). Of these, 21 are quantitative and 9 are qualitative, covering key topics such as greenhouse gas emissions, use of resources, salary gap y corporate governance.
Environmental, social and governance indicators
The majority of the environmental indicators, 16 in total, are quantitative and include metrics such as carbon emissions (scope 1, 2 and 3), energy consumption, water management, waste handlings and exposure to chemicals. For Scope 3 emissions, related to the value chain, companies may postpone their inclusion until the end of 2026.
In terms of governance, eight indicators will be required to be reported, of which only one is quantitative (percentage of women on the Board of Directors). The remaining indicators include practices such as ethics policies, information security y risk management.
The social component includes both numerical metrics as well as the salary gap y occupational accidentsas qualitative aspects related to the equal opportunity and the occupational healthl.
An operational challenge for the private sector
The CINIF has emphasized that these standards are intended to standardize the presentation of ESG informationThe company also recognizes the operational challenges for companies, especially those with no previous experience in the field, facilitating decision making by investors, authorities and other key stakeholders. However, it also recognizes the operational challenges for companies, especially those without previous experience in sustainability.
To facilitate the transition, the agency will offer training and technical guides. For its part, consulting firms such as Deloitte y PwC already recommend organizations to assess their internal capabilities, detect gaps and build a roadmap to meet the new requirements.
With these actions, Mexico joins the global movement that promotes a more responsible and transparent economy, in line with the Sustainable Development Goals of the United Nations.
Source: Expansion
