In October of last year, the real estate investment trust debuted in the local sustainable bond market, obtaining 8.1 billion pesos.

In environmental, social and corporate governance (ESG) matters, one of the new objectives of Fibra Uno (Funo) is that 100% of the new debt, both stock market and bank, that it issues or contracts is linked to sustainability issues.

“You can expect all of our new issuances and purchased credits to come with ESG indicators”; assured Karen Mora, Director of Sustainability and Foundation of Fibra Uno, the first Mexican real estate investment trust.

In October of last year, Fibra Uno, the largest real estate investment trust in Mexico, debuted in the local sustainable bond market, obtaining 8.1 billion pesos and in April 2022 it obtained a green line of credit for 300 million. of dollars by a syndicate of banks.

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The director of Sustainability explained that due to the size of the company and the profile of the investors, ESG strategies and initiatives are essential for its operations.

About 40% of Funo's investments come from local investors, of which 17% are Retirement Fund Administrators (Afores). While approximately 60% comes from foreign investors.

"In Mexico, whoever does not have a well-implemented ESG strategy and initiative would be out of the game of public companies," added the directive.

Karen Mora explained that Mexican investors place greater emphasis on requesting information related to corporate governance and environmental issues, such as reducing the carbon footprint.

Meanwhile, foreigners focus primarily on human rights issues, diversity and inclusion, beyond how many women make up the Board of Directors, but rather cover the composition and origin of the workforce.

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In addition, they focus on aligning the financial model with the risks that climate change poses for the real estate business. “It is putting a price on the risks of climate change and embarking on a strategy to deal with it,” he said.

The Director of Sustainability and Foundation of Fibra Uno spoke about the challenges in ESG matters in the fiber sector. He stressed that one of the main ones is "generating community" or rebuilding the social fabric when a project is undertaken, since all development comes to change the existing social fabric in the area in which it is executed.

He stressed that becoming a 'zero emissions' company, which is a global trend, also represents an important challenge for real estate companies, however, for Fibra Uno, until there is visibility on the issue of renewable energies, it will be difficult to undertake this road with clear and real goals.

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Original note