Mexico City, July 11th, 2022 – Terrafina (”TERRA”) (BMV: TERRA13), a leading Mexican industrial real estate investment trust (“FIBRA”), externally advised by PGIM Real Estate and dedicated to the acquisition, development, lease and management of industrial real estate properties in Mexico, announced today its inclusion in the S&P/BMV Total Mexico ESG Index and the publication of its 2021 Integrated Annual Report.
The S&P/BMV Total Mexico ESG Index aims to provide exposure to the Mexican market through a set of companies that meet strict sustainability criteria and ESG best practices. As of this year, Terrafina is included as part of the index, which is comprised of 30 companies listed on the Mexican Stock Exchange.
Terrafina also announced that it has published its 2021 Integrated Annual Report: Consistency in action, creating sustainable value.
The full report can be found here.
Some of the key highlights for the 2021 integrated report include the following:
- Three-year growth plan. During 2021 the three-year growth plan was developed and execution started. This plan is focused on creating value through the development of new properties located in strategic markets. As part of this plan, Terrafina is committed to certifying 100% of new developments under sustainable criteria.
- Market dynamics. There was productive leasing activity in key regions and sectors, including the signing of a contract for e-commerce and logistics services in Tijuana, and strategic asset sales in other northern cities. These and other distribution activities partially resulting from nearshoring trends played a key role in Terrafina’s results.
- ESG scores. We were recognized for the first time as an Industry Mover by S&P, and included in the S&P Sustainability Yearbook as we scored in the top 15% on their Corporate Sustainability Assessment (CSA), and achieved the most significant progress in the Real Estate industry in 2021.
- Human rights. There was also progress in our human rights efforts as we completed risk analyses and developed an action plan to manage these risks. With this, a due diligence process was defined and implemented in accordance with international recommendations.
- Supply chain sustainability. An ESG evaluation was carried out for a pilot sample of suppliers considering environmental, social and corporate governance issues. The aim was to identify areas of opportunity to establish supply strategies and guidelines aligned with the company’s sustainability vision.
- Internationally-recognized initiatives and standards. We continued to be a UN Global Compact signatory, participated in S&P’s CSA for the third year in a row, and once again participated in GRESB’s real estate questionnaire for the fifth year in a row. Our new integrated report is aligned with GRI and SASB reporting standards, and includes TCFD analyses and recommendations.
Alberto Chretin, CEO and Chairman of Terrafina’s Technical Committee, commented: “Our focus during 2021 was on the continued execution of our three-year growth plan to meet the ESG goals to which we are committed. We understand the relevance of our connections to stakeholders, and will continue to grow those networks. Furthermore, for the first time we have adopted an integrated reporting format for our annual report. In it, we recognize the opportunities that climate change and the latest market dynamics may represent for Terrafina. We are pleased to share this with our stakeholders, and want to continue thanking them for their interest and support. Finally, I am proud to share our integration into the S&P/BMV Total Mexico ESG Index, which acknowledges our dedication to sustainability which we will continue to strengthen with best practices.”
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Investor Relations Contact Details
Francisco Martinez
Investor Relations Officer
Tel: +52 (55) 5279-8107
E-mail: francisco.martinez@terrafina.mx
Marimar Torreblanca
Miranda IR
Tel: +52 (55) 5282-2992
E-mail: marimar.torreblanca@miranda-newswire.com