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Sustainability Report 2022

Grupo BAL is a cluster of state-of-the-art companies that incorporates a diversified group of businesses: Profuturo (pension funds), Grupo Nacional Provincial (insurance), Peñoles (mining, metallurgical, and chemical industries), Fresnillo (mining), Grupo Palacio de Hierro (department stores), TANE (jewelry), Valmex Soluciones Financieras (financial services), Valores Mexicanos (brokerage house), Crédito Afianzador (bonds), Compañía Agropecuaria Internacional (agricultural businesses), Médica Móvil (pre-hospital care), Instituto Tecnológico Autónomo de México (education), PetroBal (exploration and hydrocarbons production), and Energía Eléctrica BAL (power generation). In each of these companies, we strive to reach the higher percentile in our industry regarding profitability, and to create value to all stakeholders, offering our customers exceptional products and services, supporting the personal and professional advancement of our employees and contributing to the progress of Mexico.

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This 22nd Sustainability Report describes our approach and results in environmental, social and governance (ESG) issues for the fiscal year from January 1 to December 31, 2022.

We developed our Cultural Evolution strategy with the aim of caring for our people and being more efficient, fully committed to results, co-creation and work in ecosystems.

The following symbols will be used throughout the report:

IP = Industrias Peñoles
t = metric tons
Mt = million metric tons
tCO2 = metric tons of carbon dioxide
tCO2e = metric tons of carbon dioxide equivalent
MtCO2e = million metric tons of carbon dioxide equivalent
tCH4 = metric ton of methane
tN2O = metric ton of nitrogen oxide
m = meters
ha = hectares
m3 = cubic meters
Mm3 = million cubic meters
l = liters
Ml = megaliters
Mwhe = megawatt hour equivalent
Gwhe = gigawatt hour equivalent
US$ M = million dollars

ESG Disclosure