For this, the Ministry of Finance and Public Credit (SHCP) is already working on what types of projects can be considered as sustainable: “what we would like is to be certain about types of projects so that these criteria can then be translated into instruments that will mobilize capital and they will have an impact on the projects, ”said the official.
According to Yorio, Mexico has enough budget space tied to these financial instruments, even to make investment rounds with only this type of bonds, although the Treasury has not yet decided how these rounds can operate.
“We are working within the SHCP to modernize our budgeting approach with these criteria, but I believe that one of the great agendas we currently have is to promote a reform of the financial sector, we have talked a lot about it with the insurance market, which also has a The main role here is the banking sector, with Afores to start generating this ecosystem ”, commented the undersecretary.
He considered that the mobilization of capital towards a green growth path must be accelerated in the medium and long term.
“That banks disclose the risks associated with climate change, but at the same time assess the impacts on their projects and portfolios,” he added.
In emerging countries such as Mexico and others in Latin America, it is believed that the taxonomy should include not only the green sense of sustainability, but also the social sense, he said.