PEMEX Makes Progress in Sustainability Goals: CA100+

Investors involved with the Climate Action 100+ (CA100+) initiative have expressed optimism about PEMEX and its efforts to reduce greenhouse gas (GHG) emissions. The company’s first Sustainability Plan has made notable strides in improving climate-related disclosures and setting ambitious emissions reduction targets.

CA100+ is an investor-led initiative aimed at encouraging major GHG emitters to take the necessary steps to address climate change. It focuses on companies committed to achieving net-zero emissions. Since PEMEX's inclusion in CA100+’s focus list in 2020, the company has engaged with a diverse group of local and international bondholders, resulting in a significant improvement in communication and response from PEMEX.

This enhanced dialogue led to the formation of a Sustainability Committee in 2023 and the publication of PEMEX's first Sustainability Plan in 2024, which includes various decarbonization commitments. The plan outlines GHG emissions reduction targets and aims to achieve net-zero emissions by 2050. In addition, PEMEX has set a target to reduce methane emissions by 30% and eliminate routine gas flaring in E&P by 2030.

CA100+ conducts an annual evaluation of companies’ net-zero strategies through its Net Zero Company Benchmark, analyzing 10 key indicators. In 2024, PEMEX made significant progress, with seven indicators validated, up from just one in 2023. CA100+ has recognized this progress and urged the company to continue advancing toward its sustainability goals.

PEMEX's sustainability strategy is focused on aligning with global best practices, improving climate disclosures, overseeing climate risks at the board level, and mitigating methane emissions. The company has committed to a clear path toward decarbonization, and CA100+ remains hopeful that PEMEX will continue its efforts toward sustainability.