In Mexico, the launch of the Working Group on Climate-Related Financial Disclosures (TCFD), which seeks to promote recommendations to address the financial risks involved in climate change, as well as the integration of ESG aspects ( environmental, social and good governance), advanced Alan Gómez, its promoter.
“The consortium is going to be launched within the framework of the Green Finance Advisory Council event (on December 7 and 8). These are recommendations that are primarily going to be implemented within all public companies, ”said Alan Gómez, also Citibanamex’s deputy director of sustainability.
He said that representatives of government agencies, the financial sector, independent experts, consultants, rating agencies participate in the Mexican consortium. In addition, companies such as Cementos Mexicano, Fibra Uno, Grupo Aeroportuario del Pacífico, Grupo Televisa, Orbia and Walmart de México y Centroamérica.
Alan Gómez explained that in Mexico the culture for the integration of ESG information and the risks that climate change means for the future and viability of companies is just developing.
Therefore, he called for more Mexican companies to join the TCFD’s recommendations and reveal their actions to mitigate this effect.
The disclosure of information on the risks of climate change, the interviewee stressed, also becomes a matter of competitiveness in investment matters, since more and more investors request this type of reports to decide where they will invest.
The TCFD’s recommendations have to do with corporate governance to address the issue to the highest level of the organization, as well as the company’s strategy, how to manage risks, how to follow up and how to meet the goals around the issue.
Globally, there are 2,400 organizations that have joined the recommendations of the Climate-Related Financial Disclosure Working Group, which is based on four pillars to inform investors how climate change will affect companies and what they are doing to mitigate the impact.