Prevention of fatal accidents

Within a few years, there have been repeated serious industrial accidents at Petróleos Mexicanos (PEMEX). In the most serious accident in April 2016, an explosion at a petrochemical plant killed 32 workers and injured a further 130.

Financial risk: We estimate a medium financial risk for the company.

The goal of the engagement dialog was to encourage the company to take better safety measures in order to reduce the accident rate, clarify the cause of accidents and eliminate identified hazards.

Good progress was noted as a result of the numerous meetings held with the company and through its periodic reporting. The company conducted a root cause analysis for all relevant accidents and launched a broad-based and externally reviewed prevention campaign. These measures initiated a turnaround, and in 2018 the number of fatalities was more than halved. The company proved that it was addressing the problems. The dialog achieved impact and the goals were reached.