Mexican industry shifts sustainability focus toward profitability

The chemical industry is shifting its approach to sustainability, moving toward models that prioritize economic profitability alongside environmental goals. During the LVIII National Forum of the Chemical Industry, McKinsey Mexico partner Rafael Scott noted that while the period between 2015 and 2021 saw high enthusiasm for decarbonization and green investments, rising interest rates and inflation since 2022 have forced companies to reassess the economic viability of many environmental initiatives.

In a related development regarding corporate responsibility in Mexico, HSBC México and EY held the 5th edition of the Sustainable Innovation Leaders Awards (ELIS) 2026. The awards recognized companies for their Environmental, Social, and Governance (ESG) strategies. Winners included Siemens, Alpek, Bocar, Eni México, Ingenios Santos, Grupo Frisa, Cesantoni, and Coca-Cola FEMSA. Solfium received the Climate Tech award. The 2026 awards utilized updated frameworks to align with International Financial Reporting Standards (IFRS S1 and S2) regarding sustainability information.