Mexico’s 2022 Sustainable Bonds Achieve UN SDG Goals

Mexico’s Superior Auditor of the Federation (ASF) has confirmed that the sustainable sovereign bonds (Bonos ODS) issued by the Ministry of Finance and Public Credit (SHCP) in 2022 achieved their intended objectives, verifying that proceeds were allocated to eligible programs aligned with the UN’s 17 Sustainable Development Goals (SDGs).

According to the ASF’s external review of the 2023 Report on Assignment and Impact of the Bonos ODS, all 44 eligible expenditures linked to nine SDGs received funding as promised. The bonds raised a total of US$6.5 billion, of which US$5.1 billion was directed toward nine SDGs, including zero hunger; quality education; clean water and sanitation; good health and well-being; affordable clean energy; decent work; industry, innovation and infrastructure; sustainable cities; and life on land.

The review highlighted specific allocations: US$936.4 million went to health and welfare programs, providing free medicines and equipment to 6.4 million people; US$524.7 million supported teacher training in public schools; US$293 million funded rural and secondary road construction or maintenance, covering 723 kilometers; US$459.3 million benefited 167,619 small and medium farmers under the “Sembrando Vida” program; and US$222.2 million aided 670,028 agricultural producers through the “Producción para el Bienestar” program.

The ASF concluded that the SHCP complied with all procedures under Mexico’s Sustainable Bond Reference Framework, ensuring that bond proceeds were properly matched to actual allocations and expenditures.