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 active 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, albeit with some exceptions. In a November 2021 press release, the former President Juan Manuel Delgado supported reducing GHG emissions but did not specify a timeline for this, nor a clear target, while supporting new policies to combat climate change. He also advocated for government policy to set up market-based solutions on climate in a joint statement in November 2021. However, 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.
Engagement with Climate-Related Regulations : AMEXHI appears to have limited engagement with specific climate regulations. A joint statement signed by the AMEXHI 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. In 2018, the association opposed a regulation to eliminate methane emissions in the hydrocarbon sector in comments to policymakers, preferring that the legislation should look to ‘minimize’ emissions rather than eliminate them, and advocating for voluntary programs and opposing a 2025 methane reduction target of 80%.
Positioning on Energy Transition: AMEXHI appears to be strategically engaged in opposing the energy transition. The association has consistently directly advocated to policymakers to increase the role of oil and gas in the Mexican energy mix. In April 2021, [1126359 January 2022 and April 2022 in feedback on legislation, the association supported infrastructure and investments which will lock in unabated oil production. Furthermore, AMEXHI stated in a presentation to a Meeting of the Energy Commission of the Chamber of Deputies in December 2022 that the sector should increase production of fossil gas and policymakers should permit resuming bidding on contracts for oil to take advantage of the country’s resources.
In addition, the former President Juan Manual Delgado 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. On its website, accessed in August 2022, 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.