The Ministry of Finance and Public Credit (SHCP) presented Mexico’s Sustainable Taxonomy during the 2023 Banking Convention. The taxonomy is a comprehensive compendium of sustainable economic activities that seek to address several social challenges with the support of financial investments. Mexico’s first sustainable taxonomy addresses three main problems: climate change, gender equality, and access to essential services related to sustainable cities.
The taxonomy is unique, as it is the first to consider social objectives in its design. It prioritizes gender equality as a primary objective. It complies with technical and international criteria, and its environmental and social dimensions allow for a comprehensive approach to sustainability and well-being. The taxonomy aims to direct investment that can reduce the socioeconomic gaps in the country and protect the environment. It has a reference framework with 124 activities distributed in six economic sectors and transversal guidelines to ensure compliance with gender equality.
The SHCP highlighted that it will conduct a test program to evaluate the plan’s effectiveness and identify opportunities and challenges during its implementation. SHCP will also update the taxonomy regularly to ensure its relevance and operability in the long term.
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