Mexico is Driving, Implementing Sustainable Financing: SHCP

Mexico has been implementing sustainable financing strategies to support the global fight against climate change, said the country’s Deputy Minister of Finance, who urged for other countries to follow its strategy. 

Ready? This is the week in finance:

Mexico Highlights the Importance of Sustainable Bonds

During the COP 27 meeting, which took place in Sharm el Sheikh, Egypt, Mexico’s Deputy Minister of Finance Gabriel Yorio explained the country’s strategy and experience when creating sustainability financing to tackle climate change. 

“Mexico is a pioneer and leader in regulation and sustainable financing worldwide, promoting the development of sustainable bonds, taxonomies and financing for local markets,” said Yorio according to a SHCP press release.

Technology Implementation is Vital for Businesses

Alejandro Zecler, Co-CEO and Co-Founder, Mendel, discussed the importance of promoting technology for businesses, which has helped companies to enhance teams and options. 

“Today’s fast-paced technological solutions have transformed the business and financial ecosystems forever. While many new industries have emerged, others have disappeared, but change is the only thing that does not change. Any organization wishing to navigate this scenario successfully must adopt a digitalization-based approach, since failing to do so could delay its business strategy or even cause it to fail,” said Zecler. 

Financing will be Complex in 2023 for Limited Companies

Daniel Llano, Commercial Director, Atradius, explained that an economic deceleration will complicate the 2023 outlook for thousands of businesses. 

“All analysts at Atradius have confirmed the likelihood of a global deceleration, which will be most visible in early 2023. The signs pointing to this deceleration are many and include high interest rates in the US, which have clear implications for the Mexican economy; the ongoing Russia-Ukraine war, which is causing continued supply chain disruptions; other logistical challenges caused by talent scarcity; lockdowns in China; and the looming antagonism between China and Taiwan,” said Llano. 

Google Introduces the Google Wallet

With the introduction of its Google Wallet, the company continues to expand its presence in Mexico after reaching nearly 10 million users in the past three years. 

“The ease of payment execution is going to increase spending. Many offers and promotions are lost because customers do not know about them. Having these offers in the wallet could help economize in a more complicated scenario,” Armando Betancourt, Financial Technology Advisor at Google, told MBN.