Over the past year, the Mexican state-owned development bank has integrated Mexico's Sustainable Taxonomy into both its internal financing processes and its sustainable bond framework, including gender-focused criteria.

The effort addresses a challenge facing many emerging sustainable finance markets: translating complex taxonomy rules into practical lending and investment decisions.

BANOBRAS occupies a significant position within Mexico's financial system, with a loan portfolio equivalent to roughly 2% of national GDP and representing more than half of the country's development banking sector. Its approach therefore carries influence beyond a single institution.

The initiative culminated in the bank's largest sustainable bond issuance to date, raising approximately $943 million through taxonomy-aligned bonds with a gender perspective.

Proceeds have supported infrastructure projects including the Metrorrey Lines 4 and 6 and Guadalajara Metro Line 4, which aim to reduce transport emissions while improving accessibility and safety.

The bank has also emphasised transparency through "Banobras Hoy", a public platform allowing users to track financed projects and their environmental and social impacts geographically.

More broadly, the initiative reflects a growing effort across Latin America to operationalise sustainable finance frameworks in ways that are commercially viable, scalable and relevant to local development priorities, particularly in infrastructure, urban mobility and climate resilience.