Sustainable transition in Mexico requires almost 12 billion pesos

Mexico City. Achieving the environmental and sustainability goals to which Mexico has committed requires almost 12 trillion pesos in financing between now and 2030. In this process, the market is changing and the bank ensures that more and more projects are being demanded than at some point. converge towards sustainability.

Alba Aguilar, general director of the Mexican Council of Sustainable Finance, explained that to accelerate the fulfillment of sustainable goals, an investment of 1.7 billion pesos annually is required until 2030.

The data that public officials replicate contrasts with the amount of financing that has been provided so far. The Mexican market has launched 935 billion pesos in thematic bonds linked to sustainability, 31 percent of them are government debt.

Within the framework of the 87th Banking Convention, the Undersecretary of the Treasury, Gabriel Yorio González, and the Regional Director of the French Development Agency, Juliette Grundman, signed a letter of intent that solidifies the binational commitment towards sustainable development.

“The signing of this agreement will allow us to take another step in the implementation of Mexico’s Sustainable Financing Mobilization Strategy, which is designed to mobilize financial resources of up to 15 trillion pesos in the coming years, with the purpose of financing the transition towards a sustainable economy,” the Treasury reported in a statement.

The agreement consists of sharing models and best practices around sustainable financing; facilitate the exchange of experiences in sustainable financing between actors in the Mexican financial system and reflect on the role and particularities of development banks in the implementation of the Sustainable Financing Mobilization Strategy.

At the bankers’ meeting, Julio Carranza, president of the Association of Banks of Mexico, highlighted that currently 35 financial institutions, which make up 90 percent of banking assets, are in the sustainability protocol promoted by the sector.

The participation of the bank in the promotion of sustainability is not minor, he assured. This represents 45 percent of the assets of the financial system, hence its role in moving the sector towards more sustainable practices.