MX09 Accelerating Green Finance Flows Through the Strengthening of the Mexican National Banking and Securities Commission (CNBV)

At a Glance

Strategic Outcomes
Start Date Q1  February 15, 2021
End Date q1 February 15, 2022
Funding Source Earmarked
Actual Budget (USD) 563,325
Budget Percentage %
Actual Expenditure (USD) 0
Status Active
GGGI Share (USD)
Poverty and Gender Policy Markers gender
Name of Client (Lead/Prime implementer if GGGI is part of a consortium) CNBV
Participating Organization (Funding/donor) UKPACT
Name of consortium members, if any
Thematic Area
  • Cross Cutting
  • Gender and Inclusive Development
GGGI Project Code : MX09
Project Manager and Staff +
Pablo Martínez

Country Representative, Colombia

Diana Alejandra Quezada Avila

Analyst, Global Climate Action

Marina Leigh Brenden

Officer - Resource Mobilization and member relations

Private: Ferruccio Santetti

Green Investment Specialist (4/6)

José L. Amaya

Sr. Programme Officer & Subnational Coordinator

Project overview

The financial system is regulated by the National Banking and Securities Commission (CNBV), the Ministry of Finance and Public Credit (SHCP) and the Bank of Mexico (BANXICO). The CNBV has the power to authorize, regulate, supervise and sanction various sectors and entities, such as financial intermediaries (FI: commercial banks, national development banks, investment funds, cooperatives), which in turn are key investment mobilizers. green. To effectively require strict and soft regulation for FIs to incorporate ESG standards and climate-related risks in their credit and risk assessment of projects, the CNBV must first internalize these concepts.

This project aims to support the CNBV’s green financing commitments through various knowledge products, capacity development, improved communication and the strengthening of knowledge exchange. In particular, the project:

a) generate reports on best practices from regulators to promote the integration and disclosure of environmental, social and governance (ESG) standards, and the integration of climate-related risks into products / services financial with special emphasis on the specific needs of vulnerable groups and with a gender perspective;
b) support the institutionalization of capacity development to improve skills;
c) develop effective communication material and coordinate an internal campaign to raise awareness within the CNBV and convey a clear message of intention to the financial sector, and
d) facilitate the exchange of best practices with national and international stakeholders.
e) Finally, the project includes the development of a self-assessment tool, which will allow financial institutions to know where they are and what is needed to advance their ESG efforts.

This multi-dimensional approach is expected to increase awareness and capacities on ESG standards and climate-related risks within the CNBV, providing a framework to underpin capacity-building efforts on the subject, as well as developing relevant regulation. This regulation, in turn, will accelerate the integration of ESG and climate risks into FI operations and credit and risk analyzes, leading to increased financial flows for projects that support climate change and targets. sustainable development, in line with Mexico’s commitments.