We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
General Manager of Pemex Deer Park, a Pemex subsidiary, is on the board of AFPM (updated May 2023)
Guy Hackwell
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
General Manager of Pemex Deer Park, a Pemex subsidiary, is on the board of AFPM (updated May 2023)
Guy Hackwell
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Lobbying Overview: Pemex appears to have negatively and actively engaged on climate change policies in Mexico, with some engagement in the US. The company states high-level support for climate policy in its messaging, but takes more negative positions on policies such as the Mexican Emissions Trading System (ETS), at the same time advocates for increasing oil and gas production in the country.
Top-line Messaging on Climate Policy: Pemex has limited top-line messaging related to climate action. In its 2021 Sustainability Report, the company supported limiting global warming to 2°C or 1.5°C, and seemed to support the Mexican government’s commitment to the Global Methane Pledge at COP26. Pemex has not stated public positions on the need for climate change regulation. For example, in its 2021 Sustainability Report it disclosed it is engaging on Mexican climate policy but did not state a level of support. The company has consistently supported the UN Paris Agreement in its corporate communications, stating support for the 2°C target in its 2021 Sustainability Report.
Engagement with Climate-Related Regulations: Pemex appears to be mostly negatively engaging with key climate policies in Mexico. In a July 2022 social media post disclosing the CEO Octavio Romero’s meeting with the US State Department, Pemex disclosed that it had discussions to “address” issues related to methane emissions. However, the company provided no positions or additional information on this engagement. In November 2022, in a press release, Pemex stated support for Mexico’s methane reduction targets and the Global Methane Pledge. However, historically the company advocated to weaken methane regulation, in June 2020 in comments to policymakers, suggesting that only new facilities should be covered.
Pemex has predominantly engaged negatively on the Mexican Emissions Trading System (ETS). In its 2021 Sustainability Report, Pemex suggested that it should allow the use of compensation credits from natural carbon capture projects in its operational phase. This mirrors the arguments stated in direct comments to policymakers on the Mexican ETS in 2018-19, for example, the company advocated to increase the percentage of emissions which can be compensated with credits from 10% to 20% in September 2019. It also stated that the allocation of free emissions allowances should take into account the growth expectations of companies, although it did support including methane in the policy.
The company has taken mixed positions on the protection of carbon sinks and reservoirs. In its 2021 Sustainability Report, Pemex supported strengthening the Mexican government’s certification and management program for protecting ecosystems, but took a more nuanced position in June 2020 in comments to policymakers, not seeming to support the baseline and method used in the Program.
Positioning on Energy Transition: Pemex appears to support a continued role for fossil fuels in the future Mexican energy mix, emphasizing the need for energy sovereignty in support of the Mexican government’s strategy to become energy independent. This narrative, pushed repeatedly by the CEO Octavio Romero and in corporate communications in 2022-23, seems to focus mainly on scaling up fossil fuel production to ensure Mexico’s energy security. For example, in July 2022 La Jornada reported that the CEO supported new infrastructure and investment in fossil fuels, stating that Mexico can become an oil country. Furthermore, in comments to policymakers in March 2021, the company seemed to support increasing oil production in Mexico.
Industry Association Governance: Pemex has not disclosed a list of its industry association memberships and indirect climate-related lobbying activities, nor has it published a full audit disclosure of its industry links. Pemex is a member of the Asociación Mexicana de Empresas de Hidrocarburos (AMEXHI) and the American Fuel and Petrochemical Manufacturers Association which are engaging negatively with Mexican and US climate policy respectively.
In addition, Pemex is a listed company with more than 50% of its shares owned by the government of Mexico. State-owned enterprises likely retain channels of direct and private engagement with government officials that InfluenceMap is unable to assess, and therefore are not represented in Pemex's engagement intensity metric.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information, see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q1 2023.