Reported 6 months ago
Bond investors, including Neuberger Berman, pressured Mexico's state-oil company, Pemex, to address its deteriorating ESG record marked by deadly accidents and environmental concerns. The intense 18-month campaign by creditors, like JPMorgan Chase & Co. and BlackRock Inc., led Pemex to unveil its first sustainability plan, committing to emission reductions and net-zero goals. The movement highlights the growing influence of ESG factors in finance, underscoring Pemex's reliance on creditors for survival amid market concerns and pending elections in Mexico.
Source: YAHOO