Mexico, France Unite for a Greener Financial Future

The Sustainable and Inclusive Finance colloquium organized by the Ministry of Finance and Public Credit (SHCP), in collaboration with the French Development Agency (AFD), brought together prominent leaders from the financial, academic and government sectors to discuss sustainable financial practices in Mexico.

Emmanuel Moulin, Director General, French Treasury, noted that Mexico has played a crucial role in promoting budgetary and fiscal policies that ensure financial sustainability. "France takes pride in contributing to these social impact programs to help Mexico fulfill its commitments under the Paris Agreement," stated Moulin.

Jean-Pierre Asvazadourian, French Ambassador to Mexico, highlighted the shared values of both countries, centered on a more sustainable future and a commitment to address climate change and reduce social inequalities. "This event symbolizes the link between our two countries and promotes the creation of robust strategies to build a more sustainable and inclusive economy that will help transform the financial system," he said.

The colloquium facilitated in-depth discussions among experts on a range of topics related to sustainable finance. Themes included the Sustainable Financing Mobilization Strategy, solar panels and decarbonization of the national electrical system, green mortgages and sustainable construction, gender equality in the financial sector and the market for thematic debt instruments.

Asvazadourian stressed that SHCP is a key partner for France to address the adverse effects of climate change and to work toward closing all social gaps. He highlighted that the French and European experiences in green taxonomy served as inspiration for the development of an ambitious sustainable taxonomy for Mexico. In this regard, Moulin described the Mexican sustainable taxonomy as "a central tool for identifying economic activities with a positive impact on the environment and social cohesion."

Moulin congratulated SHCP for its leadership in creating a sustainable and inclusive financial ecosystem. He underscored that Mexico had played a crucial role by joining France in launching the Paris Collaborative Green Budgeting initiative with the aim of promoting environmentally friendly budgetary policies. Likewise, Moulin emphasized that Banxico, as a founding member of the Network for Greening the Financial System, has demonstrated its commitment to financial sustainability.

María del Carmen Bonilla, Head of the Public Credit and International Affairs Unit, SHCP, emphasized the shared commitment of the Mexican and French governments to implement public policies that ensure social equality and sustainable financing. "Promoting innovation within the financial system is crucial to enable these alternatives and advance our national sustainable development agenda," she stated.