Mexican Sustainability Reporting Standards
Mexican Sustainability Reporting Standards: cinif-issued ifrs s1/s2-aligned sustainability and climate disclosure mandatory for cnbv-registered issuers from fy 2025 with third-party assurance.
What it is
The Mexican Sustainability Reporting Standards, issued by CINIF (Consejo Mexicano para la Investigacion y Desarrollo de Normas de Informacion Financiera) and overseen by the CNBV, adopt the ISSB's IFRS S1 and S2 standards into Mexican law. They require registered corporate issuers to disclose sustainability and climate-related information alongside their financial reporting. The framework aligns Mexico's capital markets with global TCFD and ISSB-based disclosure practices.
Who must comply
All non-financial corporate issuers registered with the CNBV must comply, primarily listed firms. States, municipalities, and financial institutions are excluded from this scope.
What you must disclose
Issuers must follow IFRS S1 (ESG governance, strategy, and risk management) and IFRS S2 (climate risks, Scope 1, 2, and 3 emissions, the TCFD framework, and transition planning). Disclosures must be integrated into annual reports and backed by third-party assurance, beginning with limited assurance for FY 2025 and reasonable assurance from FY 2026.
Timeline
The standards were introduced by CINIF on January 29, 2025, effective for financial years beginning January 1, 2025. First disclosures cover FY 2025 and are filed in 2026. Limited assurance is required for FY 2025, moving to reasonable assurance starting FY 2026.