AMCHAM Explores Sustainable Financing Along Deputy Minister Yorio

The Financial Services and Sustainability and Social Responsibility committees of the American Chamber of Commerce in Mexico (AMCHAM) recently convened a joint session featuring Gabriel Yorio, Deputy Minister of Finance and Public Credit (SHCP), to delve into the future and prospects of Sustainable Finance in Mexico.

The conference, titled Just Energy Transition in Mexico, saw Deputy Minister Yorio discussing the formulation process of sustainable bonds and taxonomy in Mexico, as advocated by the Ministry of Finance (SHCP), alongside the conceptual and financial challenges encountered during their implementation.

Yorio noted that sustainable taxonomy serves as a strategic guide for companies in defining, measuring, and communicating their environmental and social impact, aiming to yield positive outcomes for both the economy and society. Moreover, he pointed out that taxonomy focuses on three main pillars: mitigation, adaptation, and gender equity, with the latter being a cross-cutting component of international significance.

During the meeting, AMCHAM members underscored the nearshoring opportunity in Mexico. They emphasized how new investments could synchronize with sustainable financing efforts amid the intensive phase of production chain relocation. This alignment would address crucial aspects such as infrastructure requirements (e.g., water or electricity) and social considerations like mobilization, ultimately stimulating housing demand. With advancements in sustainable financing, Mexico stands ready to incorporate similar elements across various infrastructural domains, including clean energy and water, thereby contributing to the establishment of financing criteria that account for associated environmental impacts, AMCHAM highlighted.