Pemex Approves Emissions Plan, Opening Door to ESG Investors (1)

Petroleos Mexicanos approved a sustainability plan through 2030 that includes reducing methane emissions by 30%, a move that may pave the way for ESG investors to return to the world’s most indebted oil producer.

Pemex’s board of directors approved an environmental, social & governance plan after a meeting on Friday to review the proposal, according to two people with direct knowledge of the matter.

Among the series of targets established, the Mexican state-owned company aims to spend from 14% to 18% of capital expenditures in 2024 on the wider plan, according to a document seen by Bloomberg News.

A representative ...