Fibra Uno (Funo) updated its environmental, social and governance strategy by 2030, which will lead the company to invest 160 million pesos over the next eight years in social projects that impact the lives of at least 300 communities in where they have their operations.

By presenting its new environmental, social and governance (ESG) strategy for 2030, the real estate investment trust (fibra) has set out to generate profits in the surrounding towns where its shopping centers, industrial warehouses and warehouses are located. office buildings, among others.

In environmental matters, it indicated that it will adopt new objectives based on climate science to reduce carbon dioxide emissions in its buildings, as well as to contribute to the objective of reducing global warming, in line with the Paris Agreement.

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“Funo has met and exceeded the energy, water and emissions intensity reduction targets for 2030; In addition to these objectives, an objective based on climate science will be adopted”, stated the issuer in a statement sent to the Mexican Stock Exchange (BMV).

Therefore, it will seek that the new debt it contracts is sustainable or linked to sustainability.

According to Carlos Gómez, an analyst at Intercam Banco, Fibra Uno is one of the most advanced companies in the real estate sector in terms of social and environmental commitments, in terms of international LEED certifications in some of its properties. It maintains an ESG rating of 88.8 points, according to Refinitiv.

However, he considered that "the weak link is its corporate factor", but with the update it will move towards "an inclusive, diverse government that inspires confidence".

In this sense, it has been proposed to position a woman in the Technical Committee and add another independent member.

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“This would be a good step since, currently, the Fibra's committee is one of the most concentrated in the sector, which limits flexibility and diversity of ideas. Similarly, Fibra's management is going through a turbulent moment of criticism and negative perceptions, so opening the committee to a more inclusive and independent space is a good sign of commitment to the company, shareholders and creditors”, Carlos Gomez added.

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