Sustainability Reporting in Mexico
Mexican society is pushing companies towards a more sustainable economy, via several distintives. Although there is no law yet that compels enterprises to become Socially Responsible.
What is happening in Mexico?
Currently there are several institutions that are aiming towards a more sustainable economies. They have different initiatives that compels companies to report their sustainable efforts in order to become role models in mexican society.
For example CEMEFI (Mexican Center for Philanthropy) offers a badge that recognizes Socially Responsible Companies (ESR), this is badge is for one year which means every organization commited to this, must share his Sustainable efforts every year to the community.
Mexican Stock Market also has an Sustainable Index, which groups all of those companies that are devoted to their Social and Sustainable actions, this brings long term value and good reputation among your stakeholders.
Over the years, sustainability reporting has become a major player towards achieving a more sustainable global economy. On the same side reporting increases companies’ accountability for their impacts and therefore enhances trust.
Sustainability information can also be used by governments to assess the impact and contribution of businesses to the economy and to understand how each player is tackling those topics that matter the most for them.
Those best practices keep creating transparency and help markets function more efficiently creating a healthier economy by:
- Building trust among your stakeholders
- Improve processes and systems
- Progressing vision and strategy inside organizations
- Reducing compliance costs
- Creating competitive advantages against those companies with no social commitment.
What must contain?
1. A brief description of the business model;
2. Description of the policies followed by the company regarding these issues, among others:
- Human rights.
- Environmental, social and HR.
- Anti-corruption and anti-bribery policies.
- Equality policies between men and women.
- Non-discrimination policies for people with disabilities and universal accessibility.
3. The results of these policies;
4. The main associated risks, linked to the company’s activities (including business relationships, products or services that may have negative impacts on these domains, and how those risks are managed by the company);
5. Key performance indicators relevant to your specific activity.
Sandards created by Global Organizations
There are several standards, guidelines and frameworks that have been created by global entities to help companies report their non financial information, including:
Global Reportive Initiative
Sustainability Accounting Standards Board
At Aplanet, we are commited to help and through our tools we are boosting organization´s social and enviromental impact with our 360º tech solutions.
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