Mexico publishes results and recommendations of its Sustainable Taxonomy Pilot Program

The Ministry of Finance and Public Credit (SHCP) from Mexico has published on its Sustainable Finance Platform a Report on the Results and Recommendations of the Pilot Program of the Sustainable Taxonomy of Mexico (TSM, published in March 2023), with the support of the Global Green Growth Institute (GGGI), financed through the UK PACT Program (Partnering for Accelerated Climate Transitions of the United Kingdom). This document aims to identify the main challenges and areas of opportunity faced by institutions of the financial system and issuers to adopt this financial policy instrument (based on the experience of 10 institutions of the Mexican financial system).

The document also includes recommendations addressed to the authorities and institutions of the financial system to promote the adoption of the TSM and boost resource allocation towards projects and activities classified as sustainable.

The gaps, opportunities and recommendations identified are categorized into five main areas: i) strategic, ii) origination process, iii) reporting and monitoring, iv) capabilities and v) regulatory.