Mexico's CINIF Sustainability Reporting Standards Become Mandatory for Financial Institutions from January 2025

On 1 January 2025, the Sustainability Information Standards (Normas de Información de Sostenibilidad, NIS) issued by the Consejo Mexicano de Normas de Información Financiera y de Sostenibilidad — known as CINIF — became mandatory for all entities preparing financial statements in accordance with Mexican Financial Reporting Standards. The new framework, referred to as the NIS, took effect on that date and applies immediately to the current financial reporting cycle.

The NIS require organisations covered by Mexican GAAP — including banks, insurers, securities firms and other financial institutions — to integrate environmental, social and governance factors directly into their financial reporting rather than treating sustainability as a separate, voluntary disclosure exercise.

SCOPE AND OBLIGATIONS FOR FINANCIAL INSTITUTIONS

The NIS requirements apply broadly to any entity preparing financial statements under Mexican Financial Reporting Standards. Entities must disclose a standard set of 30 basic sustainability indicators (IBSO) under NIS B-1, which for 2025 data may be presented in the notes to their financial statements.

CONTEXT AND TIMELINE

CINIF's approach follows the International Sustainability Standards Board's IFRS S1 and S2 standards.

The first disclosures, covering the 2025 financial year, are due in 2026.