Most of Mexico’s Top 100 Companies Issue Sustainability Reports

According to a study by Universidad Panamericana and Roland Berger, 84% of the top 100 companies in Mexico now issue formal sustainability reports, with 93% disclosing their reporting methodologies. The study, titled “Pulso Corporativo Sostenible 2025,” cites a desire to improve corporate reputation and preserve international market access as driving forces for this progress.

However, the report points to a lack of holistic reporting. The study found that only 25% of companies include Scope 3 emissions — those tied to their entire value chains — and just 5% provide logistics-related metrics. As such, these sustainability reports do not permit a complete assessment of full environmental impact.

This increase in adoption has been spurred by a strengthening domestic regulatory framework. On Jan. 1, the National Council for Financial and Sustainability Information (CINIF) rolled out the Sustainability Reporting Standards (NIS), which require companies to disclose environmental, social, and governance (ESG) performance. NIS A-1 details the required processes companies must follow to compile their reports, while NIS B-1 outlines 30 sustainability indicators that must be reported by all Mexican companies.

Further tightening reporting standards, the National Banking and Securities Commission (CNBV) will mandate adoption of the IFRS Sustainability Disclosure Standards (S1, S2) starting in 2026. These will apply to all listed companies — excluding financial institutions — representing 86% of Mexico’s market capitalization. Non-listed firms will report under the NIS.