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Perspectives: Decarbonising in action with Heineken Mexico
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Inti Pérez, Director of Corporate Social Responsibility and Sustainability, Heineken Mexico, joins Natalie Blyth, Global Head of Sustainable Finance & Transition, HSBC, and Jose Carlos Sanchez, Mexico Chief Economist, HSBC Global Investment Research to provide an in-depth look at Heineken’s sustainability journey. The discussion highlights the pivotal role collaboration plays in helping companies achieve their decarbonisation goals.
This episode was recorded on 16 October 2025.
Disclaimer: Views of external guest speakers do not represent those of HSBC.
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Transcript
Introduction to HSBC Global Viewpoint
00:00:00
Speaker
Welcome to HSBC Global Viewpoint, the podcast series that brings together business leaders and industry experts to explore the latest global insights, trends, and opportunities.
00:00:12
Speaker
Make sure you're subscribed to stay up to date with new episodes. Thanks for listening, and now onto today's show.
Meet the Experts: Jose Carlos Sánchez and Inti Perez
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Hi, everyone. i am Jose Carlos Sánchez, Mexico Chief Economist at HSBC.
00:00:25
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ah We are delighted to have a conversation with Heineken Mexico. And we are also delighted to have nail Natalie Blythe from HSBC. ah So, probably a way of introduction, Inti Perez from Heineken, Mexico, can you please introduce yourself and tell us a bit what your role within the company Yeah, totally. So and nice to meet you. Happy to be here. Thank you for the invitation. So I'm Inti Perez.
Heineken Mexico's Sustainability Strategy: Brew A Better World
00:00:58
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I'm sustainable Corporate Sustainable Director at Heineken Mexico. And I have been working on this topic, I think, the last eight years.
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Also, in other companies as a leader in food and beverage industry. topic so I'm very proud and excited to have this a new chapter in my life in Heineken Mexico leading the sustainability agenda here.
00:01:23
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Amazing. Naladi, would you like to make a brief introduction of yourself at HSBC? Yeah. Natalie Blythe, Global Head of Sustainable Finance and Transition. I've been a banker for nearly 32 years and the last five or six of those have been dedicated to sustainability.
00:01:40
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Amazing. Thank you, both of you. We are delighted to have you here. So, Indy, we are in this context of the 2025 Sustainable Innovation Awards, and you are participating in them on the environmental category.
00:01:57
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Can you please guide us what's behind the application you made and what's the and the project that you are
Heineken's Environmental Ambitions
00:02:05
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presenting? This is the second time we are participating in these awards, in this case in the environmental chapter, where we found the opportunity to share what a Heineken sustainability strategy is. Heineken Mexico and the Heineken company we have This sustainability strategy called a Brew A Better World that has ah three pillars, the environmental, the social, and the responsible consumption for the environmental one. And also considering that we in Mexico imagine that we have ah we operate in seven breweries, one malt plant. We have more than 170 distribution centers, more than brands. so
00:02:50
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Our footprint is important, so we need to act with determination and responsibility. That's why within the environmental pillar, we have three key ambitions that were the ones that we submitted in the awards. One is the journey we are starting to decarbonize our operations by 2040. We aim to achieve the net zero emissions in our operations in 2040. Then we have a second ambition that is regarding maximizing their circularity within our processes, but also within our packaging. And the third one that I think is the most important because Mexico context, and as you can imagine, if there's no water, there's no beer.
Commercial Opportunities in Climate Transition
00:03:36
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So we have this ambition towards healthy watersheds. And in this case, as Heineken Mexico, we are the number one within Heineken Company as the most efficient or water efficient operation in general in Mexico. Because it seems or it has been reviewed that to produce one liter of beer, it's required from four to six liter of water. So here in Heineken Mexico, we have the average by 10. 2024 versus our was our were baseline, that we are using 2.4 liters of water per liter of beer produced. So that's why we are leading that water efficiency in general within Heineken Company.
00:04:23
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Oh, that's amazing. I mean, first of all, congratulations because of, I mean, for all the steps you're taking on that. And probably it would be great if you can share with us, for example, how you are transforming all these um climate transition steps into commercial opportunities for Heineken in Mexico. Yes, totally. Also, that is ah part, I think, of our determination and responsibility and is embedded also in now in the purpose of our company that is to brew the joy of the true togetherness to inspire a better world. That is our purpose. So within that and within our a business model that drives us to grow and to ensure profitability, Also, the sustainability and the responsibilities within within it, like at at the at the center of the business model. In this case, for us, it's not a trend. We have seen that could be a competitive advantage or, in this case, also a commercial opportunity because, first of all, it will guarantee us the business continuity, the license to operate. the The transparency that probably investors could also see on us to say these guys or this company is responsible and are really committed to to progress and to to accomplish the the public ah goals that we have set, acting today for the future generations.
HSBC's Strategy for Sustainable Finance
00:05:51
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Got it. Yeah, I will get back to a couple of things that you mentioned that I found very interesting to follow up on them.
00:05:58
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But I would like to take advantage on what you just shared to probably ask Natalie, ah given your global role, and you talk every day with clients.
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What is HSBC's angle and what is your take and what is your view on the things that can be done to get to commercial opportunities in this climate transition phase that we are seeing worldwide? Yeah, we're seeing it worldwide. But first of all, I love your answers to the questions there. I was wanting to jump in saying yes, but because we are it's it's it's a real evolution and a step change that we're at now. um The commercial opportunity is is huge for our industry as it is for for your industry. And we had some really significant milestones recently. So last year, we were 99 billion of sustainable finance.
00:06:54
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First half this year, 54.1. So you can see it's sort of growing. We have a brand new strategy that we've launched internally and we'll be launching soon externally. It's it's bold, it's ambitious. um Part of that strategy is, ah well, ill I'll share the strategy, actually.
00:07:12
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I think we can. um So the the first driver is really to make sure that as a bank, we are supporting our clients at the center across those fast growing transition ecosystems.
00:07:24
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So clean power, electrification of transport and um data centers an ai and AI. that is huge. So the whole ecosystem, not just a vertical within it, The second driver is to make sure that we are really a trusted strategic partner in transition for all our existing clients. And those include hard to abate sectors.
00:07:48
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And then the third one, which people get very excited about, is the climate tech. And another milestone that we had, so the bank of choice for the nascent climate check tech, wind, solar, batteries, a lot of that technology is now mature.
00:08:02
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So that'll be in driver one. um But all of the the new nascent tech that can actually still go into batteries and so on is is really the the hard stuff that banks traditionally have not been comfortable
Decarbonizing Supply Chains at Heineken
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doing. Got it. No, right right great. Very great to learn that, yeah.
00:08:20
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Yeah, so um going a bit back to to what you said that I found really interesting was about decarbonizing of supply chains.
00:08:31
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So probably if you can elaborate a bit more on what steps you are taking on making this happen and also how are these steps fitting into the commercial opportunities you were discussing previously?
00:08:48
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Yes, for sure. So, ah first of all, well, we recognize ah climate change ah in the way we operate. So, the the carbonization ambition and the targets we have are key for us.
00:09:02
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And we have been working on defining a clear roadmap. with specific steps and and timelines to understand where we are at, where the investments will be and needed, and our principal bets. In this case, as I mentioned to you both, By 2040, the ambition is to achieve net zero emissions in our operations. But for for do so, we have defined for by 2030, first of all, to achieve net zero emissions in scope one and two by 2030.
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And then for is scope 3 to achieve or the reduction at least in 30% of our greenhouse gas emission in the FLAAH category, you know, the forestry, agriculture, etc., by 30% reduced in 2030.
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And then for the non-FLAAH emissions in scope 3, reduced in 25%.
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Then what we have been done so far in this case, like starting or doing the things at home, I mean in the breweries, for example, we have been implementing a renewable energy to at least achieve or ah or cover the 100% of electric energy that we need. provided by every renewable energy. So that for sure is helping us to reduce the emissions that we need to to achieve by 2030. So in this case, for example, it's like like at looking with who or which type of organizations and other like ah companies or participants we can identify the same challenge and then to go and pilot and measure and document what will be needed, for example, in in this case, for the logistics to reduce emissions, like to create a like hubs, shared hubs of electricity that we can prove either they are sustainable and cost efficient and then and then invite orders.
00:11:18
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to increase also the infrastructure that we know is needed in our country or in the cities and also who is going to take the lead like by the government or and by the industry and by the organizations, for example. And then how we can communicate it through our brands to our consumers to see that as a competitive advantage, for ah as an example. no And then another example that I can share to you Also in the net zero emissions by 2030 is, for example, as the approach of our company, because beas we are a beer industry, we start from from the farm to the bar.
00:11:56
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So in in the farm piece, with the barley. We are also have ah looking at fertilizers of a high technology that are also also low in a carbon footprint. So we are working applying this with our suppli and suppliers, along with our suppliers.
00:12:18
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And for example, in in in other cases also, we are looking at with the farmers to ensure they have the capabilities and the knowledge in order to change their practices of general agriculture to regenerative agriculture.
Future Goals: Circularity and Recycled Content
00:12:34
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So also we are doing so in order to achieve this type of challenges on the ne and on our decarbonization journey.
00:12:43
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Got it. Oh, I mean, Natalie, let me ask you this, given what Inti has just shared with us, I think these are clear examples of ah what kind of ah role model decisions look like.
00:12:58
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And given your scope, why is so important to think about decarbonizing supply chains, for example, such as the examples we heard? I mean,
00:13:09
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Supply chains, we did some research with BCG, CDP, et cetera, on the whole account for 80% corporate's emissions. And that's quite a big number. I think more recent research from CDP is it's a 26X in scope three than it is in scope one and two. So you're just not going to get to net zero. We humanity is not going to solve this problem without addressing supply chains.
00:13:38
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um And supply chains are frequently made up of SMEs, so much smaller companies as you go down. Understood. Got it. um Inti, I mean, from what you have shared with us, I mean, you are actively working on these themes, but it seems that it's ah something that will be present going forward. So from Heineken's perspective, what could be the ambitions in terms of sustainability and how to achieve them, let's say, in the next three to five years? How do you envision this team evolving in the next few years? Yes, for sure. So I think ah our vision of the future remains ambitions and purpose driven. At the Heineken company, we used to have a process in order to review every year what we have achieved at a global level.
00:14:37
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and then to identify what new challenges are coming or will come to address them and integrate in our sustainability strategy in order to prioritize, as I mentioned, the actions that we are going to take. And in this case, Hynek and Mexico, for it for example, is the number one a operation at at global level of Hynek and company. For example, in circularity, I didn't mention to you, But there is a goal by 2030, and also because of benefits on on the carbon footprint, to increase or at least achieve ah at at least 43% of our business model in returnable bottles.
00:15:21
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In Mexico, we have achieved 22% of those. But the rest, what we are going to do, the one-way bottle. So there is another ambition or objective goal.
00:15:34
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That is, to ensure then at least 50% of recycled content within our bottles and cans, but from post-consumption waste.
00:15:45
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So then, we need to start acting to, for example, in Mexico, increase or to liais with others to help or contribute to increase the infrastructure for collection and recycling of glass. Because I don't know if you know it, but in Mexico, the recycling rate of PET plastic is around 64%. laminated a cardboard is around Of glass is so we have acute challenge
00:16:16
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And we also understand that we will not achieve it
The Power of Collaboration in Climate Transition
00:16:20
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alone. We will need to connect with investors, with funds, with innovators, with startups, with consumers, with government, etc. Before we go, i would like to hear from both of you, given the actions you are sharing with us, the plans you have, and also, Natalie, your ah knowledge about this team. I would like to ask each of you if you could give some piece of advice to companies that are in the process of making further steps in this climate transition process.
00:16:58
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from your perspective, what would be a bad advice? So it's really simple, actually. We have this bold, ambitious strategy, but we exist to serve you as our clients and we can help you.
00:17:14
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um So please come and take our help. You are not alone in this. You've talked about that. We've talked about it. We can only solve this by collaboration, coming together. And we have some really cool propositions to enable you to achieve your objectives here. So we exist to support you.
00:17:32
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We want to support you. Amazing. Amazing. And in your case, Cindy? Yes. I mean, given all you shared with us, yeah what piece of advice would you give to companies? think we are totally aligned on this because I had ah that the that the idea that no company can transition alone. So we need to build partnerships for many reasons and objectives. no Like I put here, like first of all, to share knowledge, but also to move forward together. Otherwise,
00:18:05
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it's not going to be possible. agree I agree. agree. No, thank you so much, both of you, Inti, Natalie. It was a very fruitful fruitful conversation. Thank you everyone for joining us in this session. Thank you for joining us at HSBC Global Viewpoint.
00:18:21
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