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Mexico’s New Sustainable Taxonomy — Voluntary for Now, but Designed to Expand

Posted on April 4, 2023
Posted in Environmental, Social, and Governance

The country’s financial authorities may evaluate potential regulatory efforts in conjunction with the Taxonomy following its rollout.

By Austin J. Pierce

In March 2023, Mexico published a finalized version of the country’s Sustainable Taxonomy (the Taxonomy), growing the increasing number of jurisdictions that have developed such a framework. At their core, these frameworks aim to provide parameters for what is considered “sustainable,” thereby combating greenwashing and providing clarity to markets for discussing sustainability in terms of investment products and economic activities. However, these taxonomies are not uniform; instead, they adapt to the distinct considerations and priorities of their respective jurisdictions. Mexico similarly takes a distinct approach with the Taxonomy, incorporating a substantial focus on social as well as environmental parameters.

This blog post discusses the general structure of the Taxonomy and how it may impact sustainability claims and offerings for companies doing business in or with the country.

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