Pemex’s Climate Commitment Marks a New Chapter in Sustainability

Mexico’s state-owned oil giant, Pemex, has taken a bold step with its first-ever Sustainability Plan, committing to net-zero by 2050 and a 30% methane reduction by 2030. This comes after years of investor pressure from Climate Action 100+, signaling a potential shift in the company's climate strategy.

Key Highlights:

• Governance Overhaul: A Sustainability Committee was established at the board level in 2023.
• Transparency Boost: Aligning disclosures with ISSB and TCFD standards.
• Capital Realignment: Ensuring investments match sustainability targets.
• Methane Reduction: Cutting emissions and eliminating routine gas flaring in E&P.

Investor Perspective: Progress is promising, but execution is key. Stakeholders remain cautious, emphasising ongoing scrutiny to ensure Pemex delivers on its pledges.

Is this a real transformation or a strategic play? Read the full analysis [here].