Real estate investment trusts (Fibras) continue to make strong progress with the implementation of Environmental, Social and Governance (ASG) strategies in Mexico, concluded the study 'Mexico: ASG Development in the Public Stock Market 2022', prepared by consulting firm Miranda Partners.

Therefore, they considered that the sector is likely to become the most mature in terms of sustainability among all those that make up the Mexican stock market.

Regarding the progress made during the past year, the study highlighted that Fibra Educa, Fibra Plus and Fibra Uno were the stations that updated their materiality analysis in 2021.

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While four others published their first materiality analysis: Macquarie, Nova, Prologis and Storage. With this, only two real estate trusts have not yet carried out a materiality analysis and they are Upsite and Soma.

Other aspects of last year were that 81% of the Fibras prepared an annual or sustainability report, 5% less than in 2020.

Fibra Shop and Fibra Mty joined Fibra HD, Terrafina and Fibra Uno in sharing KPIs (Key Performance Indicators) for all their material topics. For its part, Fibra Shop established goals for all those KPIs for the first time.

It is worth highlighting the fact that now 75% of the 17 Fibras that make up the sector have an ESG committee or a team dedicated to monitoring environmental, social and governance issues.

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“There are now six signatories to the UN Global Compact (after FibraHotel and Fibra Storage joined). 88% of the sector reports Global Reporting Initiative (GRI) indicators compared to 73% in 2021 and 69% of the sector reports Sustainability Accounting Standards Board (SASB) indicators compared to 53% in 2021”, reads the study.

However, one point to highlight is that external verification is still rare, as only five Fibras externally verified their annual reports.

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