In a world where climate emergency redefines global economic priorities, capital markets are emerging as a decisive engine to accelerate the transition toward a low-carbon economy. At Grupo Bolsa Mexicana de Valores, also known as The Mexican Stock Exchange Group (BMV Group), our commitment to addressing climate change is solid and we deliver on it through two key roles: as a stock exchange and as a listed company. Our responsibility extends beyond facilitating investments. We are catalysts for change, offering a transparent, trustworthy and dynamic ecosystem that enables capital to be channelled toward projects and companies aligned with global sustainability goals.
BMV Leadership and Targets
At BMV Group, we recognise that to lead changes in financial markets, we must lead by example. As one of the six pioneer stock exchanges to join the Net Zero Financial Alliance, we have redoubled efforts in our climate strategy. We emphasise the necessity of setting science-based emission reduction targets that are aligned with the Paris Agreement.
Furthermore, with a focus on industry impact, we have collaborated with the Sustainable Stock Exchanges Initiative in developing a guide to help other stock exchanges chart their course toward Net Zero, both through their own operations and as an influence on the market. This guide also establishes clear short- and medium-term goals to translate proposals into an achievable action plan.
In 2025, our Climate Action Plan and efforts paid off when our mid-term and Net Zero emission reduction targets were set and validated by the Science Based Targets initiative (SBTi). This reinforces our commitment while providing a clear and traceable line in our decarbonisation strategy.
Standardised Reporting and Market Support
At BMV, we know that disclosure transparency is the foundation of a sustainable market and is crucial for companies to report on their environmental impacts in a standardised, clear, consistent and comparable manner over time. This facilitates investors' and stakeholders' understanding of climate risks and opportunities, thereby driving sustainable financing.
Acknowledging our role in the transition toward a sustainable economy, serving as a meeting point between companies and investors interested in financing responsible projects, it is our responsibility to foster spaces for dialogue and collective action. This facilitates the coordination of efforts by leveraging global and national disclosure initiatives, such as the IFRS S1 and S2 Standards.
In this regard, we have collaborated closely with the financial regulator to harmonise disclosure expectations with market needs, acting as a bridge between the regulator and listed companies. This involves building capabilities and knowledge for both Sustainability and Finance teams to enable them to identify the financial impact of ESG risks.
Given that reporting under the S1 and S2 Standards will be mandatory in Mexico starting January 2026 (with 2025 data), this year we are focused on capacity building and developing the digital tool that will house each company's indicators. This will facilitate the information-filling process and ensure a smooth and consistent transition toward a universally-recognised data foundation.
Driving Green Finance
We cannot discuss climate action without highlighting the transformative power of financial instruments in mobilising capital toward achieving Nationally Determined Contributions (NDCs) and developing adaptation and mitigation projects.
In 2025, through BMV, companies and governments issued more than 30 billion pesos dedicated to projects in energy efficiency, biodiversity conservation, water management and other initiatives. Since the launch of these instruments in 2015, more than 90 percent include an environmental impact component, totaling more than 390 billion pesos.
Furthermore, we feature ESG indices that recognise companies with the highest ESG standards and provide investors with tools to direct their capital toward more responsible and sustainable business models.
Finally, we highlight the Mexico Carbon Forum, an event promoted by the BMV Group's carbon platform (MéxiCO2). Its purpose is to advance the national climate agenda, foster the creation of a carbon market in Mexico and Latin America, and accelerate sustainable development through dialogue and the initiation of greenhouse gas (GHG) emission reduction initiatives. This event, held since 2021, gathers key public and private sector players to discuss carbon pricing instruments, such as emissions trading systems and carbon bonds and explore efficient routes for decarbonisation.
Through these and other initiatives, the Bolsa Mexicana de Valores Group will continue to strengthen Mexico’s financial resilience to successfully face the challenges posed by climate change.