Open Source Content Management

Introduction

In the second part of the document “ESG in the Mexican Mining Industry”, we addressed the first three indicators related to the best environmental practices for the mining industry in 2022, as provided in the Responsible Mining Index (RMI) and developed by the Responsible Mining Foundation (RMF). Specifically, we addressed the best environmental practices for the mining industry in terms of (i) environmental management, (ii) tailings management, and (iii) water management. In this third part, we will address the remaining four categories identified in the RMI.

Introduction

The demands of modern life require the mining industry. The materials extracted from the ground and subsoil are necessary for the building of roads, electronics, and vehicles, as well as for the generation of electricity. Without a doubt, the economic development of a society is linked to the development of this extractive industry.

The beginning of the year is full of resolutions and good wishes. For those of us who intend to fulfill them, resolutions must be translated into concrete goals and objectives, both for individuals and companies.

Dear clients and friends,

We are pleased to share our contribution to Latin Lawyer’s Guide to Corporate Crisis Management (4^th ed.), titled "Crisis Mode: Have Your ESG Team on Speed Dial", co-authored by Pablo Jiménez and Luis Burgueño, co-heads of our Corporate and M&A practice and members of our ESG group.

Fort Dearborn Company and Multi-Color Corporation have merged, creating the world’s largest prime label supplier by revenues.

This year, a Mexican federal court issued a set of controversial precedents regarding the rights of legal entities. These precedents are not generally binding, but they represent a setback in the protection of fundamental rights and, specifically, with respect to social corporate responsibility.

One of the main objectives of Mexico’s current Federal Administration is to strengthen the energy sector, with particular emphasis on the State’s power and oil companies: Comisión Federal de Electricidad (CFE) and Petróleos Mexicanos (Pemex). In line with this objective, on March 10, 2021, a substantial reform to the Electricity Industry Law went into effect, which purports to provide security and reliability to the electricity system, as well as to foster the country’s energy autonomy.

For anyone who had any doubts, the recent COP26 climate change conference made it clear that the biggest and most complex challenge facing humanity requires collaboration. No institution or organization is capable of making a significant impact acting in isolation.

Investment decisions taken by companies worldwide are increasingly based on (if not driven by) Environmental, Social and Governance (ESG) criteria. Even though these criteria are a tool to evaluate the sustainability of companies, they are not comprehensively supported by Mexican legal provisions and therefore, are not linked to legal compliance.