Mexico investment fund ESG and specialization regulations

The Mexican federal government and the National Banking and Securities Commission (CNBV) have introduced new regulations for investment funds to increase transparency and prevent greenwashing.

Initial resolutions published in the Diario Oficial de la Federación require any equity or debt fund using ESG-related terminology to allocate at least 80% of its portfolio to assets meeting Environmental, Social, and Governance criteria. The Secretaría de Hacienda y Crédito Público (SHCP) and the CNBV also mandate that these funds disclose how their objectives and investment regimes align with ESG factors.

Subsequent regulatory amendments expanded these requirements to include specialized funds. Under the new rules, funds using specific asset descriptors in their names, ticker symbols, or marketing materials—including those focused on government securities, private-sector assets, sector-specific assets, or regional assets—must maintain at least 80% of their net assets in those specific categories. These measures aim to ensure that financial products do not use sustainability or specialized labels that are inconsistent with their actual portfolio composition.