Hogan Lovells advises in first urban development, mobility and sustainable infrastructure program in Monterrey, Mexico, setting eyes in a new ESG horizon in LATAM
Monterrey, Mexico 13 June 2022 - Hogan Lovells has advised a multisector group promoting ESG commitments for the City of Monterrey, Nuevo Leon, Mexico under the leadership of Mayor Luis Donaldo Colosio Rojas and Secretary of Urban Sustainable Development, Laura Irais Ballesteros Mancilla. This committee has executed a cutting-edge agreement to formally set up a working group integrated by two of the most important construction and urban development chambers in the state of Nuevo León, the Cámara de Propietarios de Bienes Raíces del Estado de Nuevo León (CAPROBI) and the Cámara Nacional de la Industria de Desarrollo y Promoción de la Vivienda (CANADEVI). The group also include representatives of three of the most important universities in the state; Instituto Tecnológico de Estudios Superiores de Monterrey, Universidad Autónoma de Nuevo León, and Universidad Regiomontana.
In this novel structure, all parties have committed resources and capabilities to work in these objectives for the City of Monterrey.
Provide a more efficient and seamless regulatory process of constructors and developers to apply and conclude applications and permits.
Participate in a dynamic environment for the implementation of mobility, urban development and sustainable infrastructure works for the City where all parties will propose and be heard on concerted programs and public works.
Initial strategic projects for the City include: Central Corridor; Metropolitan Corridor; Northwest Corridor; Considerable green areas; Cycling Paths; Transportation Stations; and, other strategic projects approved by the working group.
This joint ESG Strategy is a first in Mexico and comes at a time that the country is passing through uncharted waters in several strategic sectors under the Federal Administration. The City’s Mayor Luis Donaldo Colosio Rojas, who is also considered a “sleeper” front runner for Mexico’s presidential elections in 2024, and Urban Sustainable Development Secretary, Laura Ballesteros, have been clear in stating that ESG is now a reality in the world, and Monterrey, Mexico’s industrial and corporate hub, will take a lead in this everchanging landscape. The program is set to include public works in excess of US$200 million during the course of his term as mayor.
Partner René Arce Lozano and associates Dinorah Pensado and Felipe García, all in the firm’s Monterrey office, advised on this matter.