industry
Not specified
Location
Mexico
Status
In effect
Overview
In January 2025, Mexico became the first country in North America to adopt mandatory sustainability reporting standards. The Consejo Mexicano para la Investigación y Desarrollo de Normas de Información Financiera (CINIF, the Mexican Council for Financial Information Standards and Sustainability) published the Normas de Información de Sostenibilidad (NIS), which introduces mandatory sustainability reporting standards, aligned with the IFRS Foundation’s Sustainability Disclosure Standards S1 and S2. Beginning in 2026, domestic and foreign securities issuers that submit financial statements to the Comisión Nacional Bancaria y de Valores (CNBV, the National Banking and Securities Commission) must prepare a report disclosing the reporting entity’s sustainability information, including scope 1-3 GHG emissions, based on data from the previous fiscal year.
Requirements
Among the reporting requirements, the NIS requires securities issuers to prepare a report that includes the following climate and environmental disclosures:
Disclosure Requirements
Scope 1-3 of the entity’s GHG emissions (exemption may apply for scope 3 emissions data during the 2026 reporting cycle)
Total energy consumption, including renewable energy consumption
Sustainable investments
Water use and management (i.e. use, reuse, and wastewater discharge)
Biodiversity within or near irrigated land
Dependence on ozone depleting substances or products
Waste (i.e. generated by the entity, reused, and hazardous)
Target Setting Requirements
Risk management policy
Sustainability strategy
Affected Companies
Revenue thresholds
NIS compliance is required for entities whose securities are registered with the Registro Nacional de Valores (RNV, Mexico's National Securities Registry), which is overseen by the CNBV.
This policy does not apply to:
Federal entities and municipalities are currently exempt from NIS compliance.
Company size
Not defined
Company Type
Not defined
Geography
Domestic and international
industry
Not specified
Status:
timeline for compliance
This policy went into effect on January 1, 2025.
Upcoming Dates
Mandatory submission of a sustainability report begins in 2026, based on 2025 data. In the 2026 reporting cycle, external auditor assurance of the NIS requirements will not be required.
Beginning in 2027, external auditor assurance of the NIS requirements will be required.
Timeline for Compliance
Sustainability reports are required to be submitted annually to the CNBV.
Penalties
Currently, securities issuers face no fiscal penalties associated with noncompliance with Mexico’s sustainability reporting requirements. However, this may be subject to change in the future. Entities regulated by the CNBV can face administrative fines, public notices of noncompliance, restricted access to capital markets, or registration limitations for new securities.
Implications
Mexico’s NIS has significant implications for the business environment, regulatory oversight, and access to finance. They shift both private and public companies toward greater ESG transparency, aligning Mexico with global reporting frameworks. While entities registered with RNV do not currently face financial penalties for noncompliance with NIS, companies must consider both the financial and reputational risk for noncompliance, as well as opportunity costs, if the CNBV sets restrictions on noncompliant entities.
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