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.
Climate Lobbying Overview: AMEXHI appears to have limited engagement with climate policy, taking predominantly negative positions on the energy transition away from fossil fuels. However, it seems to take more mixed positions in its top-line messaging on emissions reductions and the need for climate policy.
Top-line Messaging on Climate Policy: AMEXHI seems to broadly support action on climate change in its top-line messaging but does not clarify elements of this action such as timelines. In a November 2021 press release, the President Juan Manuel Delgado supported reducing GHG emissions but did not specify a timeline for this, nor a clear target. The President further stated support for new policies to combat climate change in the press release. He also advocated for government policy to set up market-based solutions on climate in a joint statement in November 2021, but did not clarify a position on other forms of policy. In another November 2021 press release, AMEXHI suggested that current climate and energy policies are poorly designed and lead to energy insecurity. In a November 2021 joint statement, the President supported the UN Paris Agreement and the finalization of Article 6.
Engagement with Climate-Related Regulations : The association appears to have limited engagement with specific climate regulations. A joint statement signed by the President in November 2021 stated broad support for carbon border adjustment mechanisms as an important component to level the playing field between imports and exports.
Positioning on Energy Transition: AMEXHI appears to oppose the energy transition. The association stated support for transitioning from other fossil fuels to fossil gas on the basis that it is low-carbon, without placing conditions on carbon, capture and storage or methane mitigation measures. The President strongly supported increasing oil and gas production in Mexico in June 2022, and advocated for the development of infrastructure and investment which would lock in unabated fossil fuels. The Director General Merlin Cochran supported new deepwater gas infrastructure in Mexico in July 2022. Furthermore, the President signed a joint statement in November 2021 advocating to policymakers to recognize the role for oil and gas in meeting the UN Paris Agreement goals, including supporting new fossil gas infrastructure.