The Association of Banks of Mexico and the Secretariat of Finance of Mexico City have signed a collaboration agreement to promote sustainable finance. The main objective of this agreement is to make the capital a national and international benchmark in this area during the current year. Part of this initiative includes the issuance of green bonds amounting to up to 3.5 billion pesos.
According to Julio Carranza, president of the ABM, the most recent ESG report from banking indicates that annual sustainable financing reached 686 billion pesos, representing an 8 percent increase compared to the previous year. The collaboration between both entities will focus on promoting the Sustainable Taxonomy of Mexico, encouraging sustainable mobility, and facilitating access for households and businesses to clear information about the environmental, social, and fiscal benefits of sustainable practices.
In this context, it is noteworthy that in the first quarter of 2025, the finances of Mexico City obtained positive results, with an 11.4 percent increase in total revenues of the capital, representing a preliminary collected amount of 97 billion 764 million pesos. The strengthening of local revenues has been one of the key factors in this growth.
Juan Pablo de Botton Falcón, secretary of the Secretariat of Administration and Finance of Mexico City, emphasized the importance of collaboration between the Government of Mexico City and the business sector to achieve the sustainability objectives of the capital. In particular, he highlighted that the increase in property tax collection and payroll tax has significantly contributed to these positive results, showing an annual increase of 27.8 and 25.5 percent respectively in this first quarter.
