NIS

Who issues them

CINIF, the same board that issues the Mexican Financial Reporting Standards, the NIF. The first two were published on May 13, 2024 and apply from January 1, 2025.

They apply to entities that prepare their financial statements under NIF, regardless of size or whether they are listed.

NIS A-1 and NIS B-1

NIS A-1 is the conceptual framework: it defines what sustainability information is and how it relates to the NIF.

NIS B-1 sets 30 Basic Sustainability Indicators, 21 quantitative and 9 qualitative, all of which are disclosed. The environmental ones include greenhouse gas emissions by scope, with comparative figures for the previous period.

The first-year relief

Scope 3 can be omitted in the first year, and comparatives are not required that year.

NIS and IFRS S2

They are not the same. The NIS require a fixed list of indicators in the notes. Issuers listed in the National Securities Registry also file a sustainability report under IFRS S2, under a CNBV rule.

Source: Normas de Información de Sostenibilidad 2024, Greenberg Traurig.