Mexican Pension Regulator Consar Prioritizes ESG with CESGA Certification.
In a landmark decision highlighting the rising emphasis on Environmental, Social, and Governance (ESG) factors, the National Commission for the Retirement Savings System (CONSAR), Mexico’s overseeing body for pension funds, has recognized the Certified Environmental Social and Governance Analyst (CESGA) certification. Among a concise list of just three programs endorsed by CONSAR for their emphasis on ESG considerations.
While this mandatory requirement is only obligatory for investment and risk management officials, the recognition is a clear nod towards the pressing need for sustainable and responsible investing in Mexico’s pension sector.
With only two additional programs receiving similar acknowledgment, the CESGA’s prominence is underscored. Industry observers anticipate that such a move will not only elevate the importance of ESG considerations in investment choices and risk management within the pension domain but will also set a precedent for other financial sectors in Mexico.
In light of this development, Jesús López Zaballos, Chair of EFFAS expressed gratitude, stating, “We deeply appreciate the recognition from the local authorities. Such acknowledgments strengthen our mission to champion ESG considerations globally.”
Further amplifying the endorsement’s significance, gratitude was also extended to the Consejo Mexicano de Finanzas Sostenibles, EFFAS’s Value Added Partner in Mexico. As promoters of CESGA in the country, their instrumental role was paramount in this achievement. The Chair remarked, “The tireless efforts of the Consejo Mexicano de Finanzas Sostenibles in advocating for CESGA in Mexico have been invaluable. Collaborative partnerships like these pave the way for a sustainable financial future.”
