Mexico Mandates Climate Reporting: What You Need to Know

Summary Mexico’s CNBV now requires all securities issuers on the Mexican Stock Exchange to report under IFRS S1 (general sustainability disclosures) and S2 (climate disclosures), with the GHG Protocol explicitly mandated as the measurement standard. The first reports covering FY2025 data are due in 2026, with Scope 3 reporting required for large issuers from 2027 and medium issuers from 2028. The regulation covers approximately 86% of Mexico’s equity market capitalisation, and its supply chain ripple effects will reach suppliers across the US, Canada, and Latin America through Scope 3 data requests. Companies that already report under the GHG Protocol, TCFD, CDP, or CSRD have a head start — the ISSB standards are designed to build on these frameworks, reducing the burden of duplicative reporting.