Financiando la construcción sustentable en México

This report by the Climate Bonds Initiative (CBI) examines the opportunities for using green bonds to finance sustainable construction in Mexico. It details the current state of the market, national climate commitments, specific financial instruments like CKDs and FIBRAS, and the certification proxies accepted under the Climate Bonds Standard for residential and commercial buildings.

• Mexico has established specific national targets for greenhouse gas (GHG) emission reductions: an unconditional commitment to reduce emissions by 22% by 2030, with a potential further reduction up to 36% by 2030 through sustainable building and residential solar energy. Additionally, the General Law on Climate Change sets a goal to cut GHG emissions by 50% by 2050.
• The construction sector in Mexico represents nearly 7% of the GDP as of 2019. There is a significant investment opportunity in green construction, specifically in Mexico City, where over 50,000 new houses are expected to be built annually until 2030, contributing to a total green construction investment opportunity of 18 billion dollars.
• As of September 30, 2020, only 10.6% of green and sustainable bond funds in Mexico were allocated to sustainable buildings. The largest share of these funds went to energy (43.2%), followed by water (22.1%) and waste (12.7%).
• Several entities have issued green or sustainable bonds in Mexico. The Mexico City government issued its first green bond in 2016 and a second in 2018 (1.1 billion pesos/54 million dollars), with 25% for sustainable construction. Vinte issued sustainable bonds in 2018 (800 million pesos) and 2020 (460 million pesos), and a first corporate SDG bond (400 million pesos). BBVA issued a green bond of 3.5 billion pesos, with 54% dedicated to low-carbon buildings.
• Alternative financial instruments in Mexico, such as CKDs (Certificados de Capital de Desarrollo), CERPIS (certificados de proyectos de inversión), and FIBRAS (real estate investment trusts), offer opportunities for green labeling. For example, FIBRA Prologis announced a green bond issuance, and others like FIBRA UNO and FIBRA DANHOS hold LEED-certified properties.
• The Climate Bonds Standard accepts specific proxies for identifying green buildings in Mexico. For commercial buildings, these include LEED Gold or Platinum (with 30% improvement over ASHRAE 90.1), EDGE certification, and Living Building Challenge (LBC). For residential buildings, the EcoCasa certification is accepted if it achieves a minimum 20% reduction in CO2e emissions compared to its baseline measured with the DEEVi tool.

APA

Climate Bonds Initiative (2020). Financiando la construcción sustentable en México. https://www.climatebonds.net/files/documents/publications/Financiando-la-construcci%C3%B3n-sustentable-en-M%C3%A9xico_2025-01-07-172435_sbgz.pdf

Chicago

Climate Bonds Initiative. Financiando la construcción sustentable en México. 2020. https://www.climatebonds.net/files/documents/publications/Financiando-la-construcci%C3%B3n-sustentable-en-M%C3%A9xico_2025-01-07-172435_sbgz.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Financiando la construcción sustentable en México |date=November 2020 |url=https://www.climatebonds.net/files/documents/publications/Financiando-la-construcci%C3%B3n-sustentable-en-M%C3%A9xico_2025-01-07-172435_sbgz.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2020financiando, author = {{Climate Bonds Initiative}}, title = {{Financiando la construcción sustentable en México}}, institution = {Climate Bonds Initiative}, year = {2020}, month = nov, url = {https://www.climatebonds.net/files/documents/publications/Financiando-la-construcci%C3%B3n-sustentable-en-M%C3%A9xico_2025-01-07-172435_sbgz.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }