Joint effort
At the company level, “the problem of greenwashing it occurs when ESG initiatives are seen as an image measure and not as a fundamental change, ”says Pablo Jiménez, partner and leader of the ESG Von Wobeser y Sierra Practice Group.
To avoid this, at the company level it is important to demystify some issues, such as that there is no one-size-fits-all solution; it cannot be an isolated process, but must be linked to strategy; It is not an effort of philanthropy, it is an effort to identify material risks in the business.
“Greenwashing will exist, there will be many companies that say: look, there is a great opportunity, there is a great appetite for these instruments, we are going for them,” says Ortega. However, to the extent that rating agencies unify their criteria and that companies use third-party certification in all aspects of their activities, it will give greater credibility, and if standardized and customized methodologies are added by sector, I think there will be a higher quality of information to make a better performance evaluation ”, adds Saisó.
The ESG issue in Mexico is relatively recent, according to Ariza, in 2017 there were few investors, few investment instruments and less interest from companies, but things have taken a turn and both Ariza and Jiménez agree that all the Market participants have a fiduciary responsibility to have a better world.
“In Mexico, we have a legal framework that is not fully developed or systematic in ESG matters. We are at an early stage, but I have no doubt that evolution is going to be inevitable. And the companies that do so with commitment and conviction will be rewarded by their investors, their employees and their consumers, ”Jiménez confides.
To achieve a market immersed in ESG, the link between all participants is essential, experts agree. “Mexico has to make an important change, we must be able to work between the private initiative and the public sector to improve the country’s environmental conditions, to have investment opportunities open with public policies that are aligned with sustainable development strategies,” he concludes Ariza.