IFRS S2 for Infrastructure in Mexico: 2026 Guide
IFRS S2 is the climate-specific standard adopted by CNBV as mandatory for all BMV and BIVA issuers starting January 2025, making Mexico the first country in North America to implement IASB's ISSB standards. Companies must report GHG emissions across all three scopes, conduct climate scenario analysis, and disclose how climate change impacts their strategy and financial model. Limited assurance of the report by an external auditor will be required starting with the 2027 reporting cycle.
Infrastructure concessionaires face the longest-term physical climate risk among BMV issuers — their assets have a 30-50 year horizon and are exposed to intensification of extreme events (hurricanes, floods, droughts). IFRS S2 requires 1.5°C/2°C/4°C scenario analysis for infrastructure assets, including adaptation and resilience costs that PINFRA and OHL must incorporate in their disclosed business plans.
Why IFRS S2 Applies Differently in Infrastructure
CFO and Sustainability Director of BMV-listed infrastructure concessionaires (roads, bridges, tunnels)
Vehicle emissions on toll highways (Scope 3 Cat 13 — use of leased/concession assets) — calculation method based on vehicle count and fuel mix that varies by corridor
Diesel consumption in construction and maintenance machinery distributed across 50+ simultaneous work fronts without sub-metering per project
Physical climate risks in long-term assets (50-year concession) — climate scenario analysis for critical infrastructure required by IFRS S2
Emissions from civil construction subcontractors (Scope 3 Cat 1 and Cat 2) — >60% of work executed by third parties without emissions data
Critical IFRS S2 KPIs for Infrastructure
| Required KPI | Data Source | Difficulty |
|---|---|---|
| tCO2e per km of managed highway | Direct combustion (Scope 1) | High 🔴 |
| Diesel consumption in maintenance per km (liters/km/year) | Electricity bills (Scope 2) | High 🔴 |
| Percentage of projects with subcontractors reporting emissions (%) | Cat 13 - Vehículos en autopistas concesionadas | High 🔴 |
| Environmental incidents in construction zones (# per year) | HR / payroll system | Medium 🟡 |
| Energy intensity at toll booths and equipment (kWh/vehicle-equivalent) | ERP / accounting system | Medium 🟡 |
Hard-to-Collect Data in Infrastructure
Vehicle emissions by type (trucks, cars, motorcycles) at toll booths — requires emission factor per vehicle category and differentiated count
Diesel consumption of subcontractors at remote work fronts without standardized timesheets
Land use change data for biodiversity analysis in rights-of-way
That is why manual Excel-based processes will not pass the 2027 assurance. Without automated traceability, an external auditor cannot verify the completeness or accuracy of emissions data.
Checklist: 8 Steps to Comply with IFRS S2 in Infrastructure
- 1
Reporting of GHG emissions Scope 1, 2, and 3 (full value chain) in metric tons of CO₂ equivalent
- 2
Climate scenario analysis aligned to TCFD using at least 1.5°C and 2°C as reference pathways
- 3
Identification and quantification of physical risks (chronic and acute) and transition risks
- 4
Disclosure of emissions reduction targets, including net-zero goals with interim milestones
- 5
Description of how climate risks and opportunities affect business model, strategy, and cash flows
- 6
Connect data sources (ERP, meters, suppliers) to a centralized platform
- 7
Review with internal audit team and adjust consolidation perimeter
- 8
Generate report in CNBV/CINIF format ready for external assurance
How Climatta Automates IFRS S2 for Infrastructure
Automated Collection
Eliminate spreadsheets in Infrastructure. Climatta connects your systems and automatically collects tCO2e per km of managed highway and other critical KPIs.
Auditor-Grade Traceability
Every data point has source, date, and owner documented. The 2027 assurance auditor can trace every figure to its origin in your systems.
IFRS S2 Report Ready
Generates the report in the exact CNBV format — tables, metrics, and narrative. No last-minute manual reformatting.
Onboarding in 4 Weeks
Climatta connects to Infrastructure systems in 4 weeks. No months-long IT project or external implementation consultant.
FAQ: IFRS S2 in Infrastructure
Ready to comply with IFRS S2 in Infrastructure?
Climatta centralizes all data collection, generates the report in regulatory format, and leaves it ready for 2027 external assurance. No spreadsheets.