ESG in New Mexico: A Comprehensive Overview

This report provides a detailed overview of Environmental, Social, and Governance (ESG) factors in New Mexico, covering various aspects such as organizations, companies, projects, influential voices, government initiatives, and specific information about Albuquerque and Santa Fe. It also explores other locations within the state with notable ESG-related activities. As ESG takes center stage in national discussions, with states like California and New York promoting ESG-focused investment frameworks, and others like Florida and Texas campaigning against ESG considerations in funds and policies, it's crucial to understand New Mexico's unique position in this evolving landscape¹.

This report is based on a comprehensive review of publicly available information, including reports from government agencies, academic institutions, non-profit organizations, and company websites.

Organizations Championing ESG in New Mexico

New Mexico has a diverse range of organizations dedicated to promoting ESG principles and driving sustainability initiatives. These organizations play a crucial role in raising awareness, advocating for change, and implementing projects that benefit the environment and communities.

Environmental Advocacy Groups

Several organizations in New Mexico focus on environmental conservation and sustainability. These include:

• Bird Alliance of Central New Mexico: Formerly the Central New Mexico Audubon Society, this organization is dedicated to bird conservation and environmental education. They conduct bird surveys, habitat restoration projects, and educational programs to promote awareness about the importance of avian biodiversity².
• Environmental Education Association of New Mexico: This association provides resources and support for environmental educators throughout the state. They offer workshops, conferences, and networking opportunities to enhance environmental literacy and promote sustainable practices².
• Friends of the Bosque del Apache: This organization supports the conservation of the Bosque del Apache National Wildlife Refuge, a critical habitat for migratory birds and other wildlife. They organize volunteer events, educational programs, and fundraising efforts to protect this vital ecosystem².
• Friends of Valle De Oro National Wildlife Refuge: This group supports the Valle De Oro National Wildlife Refuge, a former dairy farm south of Albuquerque that is being restored to its natural state. They engage in habitat restoration, community outreach, and environmental education programs².
• Gila Conservation Coalition: This coalition works to protect the Gila River, one of the last free-flowing rivers in New Mexico. They advocate for policies that protect the river's ecological integrity and oppose projects that threaten its health².
• Mesilla Valley Audubon Society: Based in southern New Mexico, this chapter of the National Audubon Society advocates for bird conservation and habitat protection. They conduct bird counts, organize educational programs, and engage in advocacy efforts to protect bird populations and their habitats².
• Native Plant Society of New Mexico: This society promotes the conservation and appreciation of native plants in New Mexico. They organize plant walks, workshops, and seed exchanges to educate the public about the importance of native flora and encourage their use in landscaping and restoration projects².
• Sierra Club - Rio Grande Chapter: This chapter of the Sierra Club focuses on environmental conservation and advocacy in New Mexico and West Texas. They organize hikes, outings, and educational events to connect people with nature and advocate for policies that protect the environment².
• Southwestern New Mexico Audubon Society: Based in Silver City, this chapter of the National Audubon Society promotes bird conservation and environmental awareness. They conduct bird surveys, organize educational programs, and engage in advocacy efforts to protect bird populations and their habitats².
• Taos Land Trust: This land trust works to conserve land and natural resources in the Taos area. They acquire and manage land for conservation purposes, promote sustainable land use practices, and provide educational opportunities for the community².
• Upper Gila Watershed Alliance: This alliance is dedicated to protecting the health of the Upper Gila Watershed. They monitor water quality, advocate for responsible water management, and engage in restoration projects to improve the watershed's health².
• Wildlife for All: This organization campaigns for wildlife management reforms that prioritize ecological health and ethical treatment of animals. They advocate for policies that protect wildlife populations, promote biodiversity, and ensure humane treatment of animals².

Community Development and Education Initiatives

• Coalition of Sustainable Communities NM (CSCNM): This coalition works on community-level sustainability initiatives, focusing on areas such as water conservation, energy efficiency, and sustainable transportation. They collaborate with local governments, businesses, and residents to promote sustainable practices and create more resilient communities³.
• Four Corners College and Career Pathways Partnership: This partnership focuses on educational programs that promote green energy and sustainable economic development in the Four Corners region. They provide students with opportunities to earn college credit while in high school and prepare them for careers in renewable energy and related fields⁴.

Industry Associations

• Enstor: Enstor, an energy storage company, actively participates in organizations like the National Fire Protection Association (NFPA), American Society of Safety Professionals (ASSP), Southern Gas Association (SGA), New Mexico Oil & Gas Association (NMOGA), and Texas Gas Association (TGA) to stay informed about industry standards and contribute to their development. This engagement demonstrates their commitment to safety, environmental responsibility, and best practices in the energy sector⁵.

Companies with Strong ESG Initiatives in New Mexico

Several companies in New Mexico demonstrate a strong commitment to ESG principles, integrating sustainability into their operations and contributing to a more responsible and ethical business environment.

Renewable Energy Leaders

• Array Technologies: A leading solar tracking system manufacturer based in Albuquerque, Array Technologies is committed to sustainability through its use of a traceable American supply chain and low-carbon American steel. Their solar tracking systems help maximize the efficiency of solar energy production, contributing to the growth of renewable energy in New Mexico and beyond⁶.
• AES: An energy company with a significant presence in New Mexico, AES is developing renewable energy projects, including the Rancho Viejo Solar project in Santa Fe County and a community solar portfolio with a combined capacity of over 400 MW for the solar and storage projects. These projects contribute to the state's renewable energy goals and provide clean energy to communities⁷.
• TEP (Tucson Electric Power): While headquartered in Arizona, TEP operates renewable energy projects in New Mexico, such as the Oso Grande Wind farm in southeast New Mexico, which generates enough power for nearly 100,000 homes. This wind farm is a significant source of clean energy in the state, reducing reliance on fossil fuels⁸.

Sustainable Investment and Consulting

• Rikoon Group: This investment firm is a pioneer in socially responsible and sustainable investing in New Mexico, specializing in identifying publicly traded companies with high ESG standards. They help clients align their investments with their values and contribute to a more sustainable economy⁹.
• Aftan Engineering: Aftan Engineering provides sustainability consulting services, including ISO 14001 certification and life cycle management, to businesses in New Mexico. They help companies improve their environmental performance, reduce their impact, and achieve sustainability goals¹⁰.

ESG Service Providers

• Sendero ESG Solutions: Sendero ESG Solutions offers a range of ESG services to the oil and gas industry, including emissions reduction, environmental compliance, and legacy asset management. They help companies in the energy sector improve their environmental performance, reduce their emissions, and manage their assets responsibly¹¹.

Notable ESG Projects in New Mexico

New Mexico is home to various ESG-related projects that address environmental challenges, promote social equity, and contribute to sustainable development.

Renewable Energy Projects

• Oso Grande Wind Farm: Located in southeast New Mexico, this 250 MW wind farm developed by TEP provides clean energy to nearly 100,000 homes⁸.
• Rancho Viejo Solar: A planned solar project in Santa Fe County by AES, contributing to the state's renewable energy capacity⁷.
• Community Solar Portfolio: AES is developing a community solar portfolio in multiple locations across New Mexico, with a planned capacity of over 400 MW, including storage projects⁷.
• Borderlands Wind Project: Located east of Springerville, this project by TEP includes 34 turbines with a combined capacity of 99 MW, providing clean energy to over 26,000 homes⁸.
• Raptor Ridge Solar System: This 12.5 MW solar system by TEP supports the company's TEP GoSolar Home program, providing clean energy to homeowners and renters⁸.

Energy Efficiency and Sustainability Initiatives

• State Buildings Green Energy Project: A $32 million project by the New Mexico General Services Department to improve energy efficiency in over 30 state buildings in Santa Fe. This project includes solar panel installations, water conservation measures, and upgrades to HVAC systems¹².
• Fort Bliss Resiliency Upgrades: A project to enhance energy efficiency and water conservation at Fort Bliss, implemented by New Mexico Gas Company and Energy Systems Group¹³.
• PNM Reduce Your Use Program: PNM Resources supports various non-profit organizations in New Mexico through its Reduce Your Use program, which aims to promote energy efficiency and community development¹⁴.

Influential Voices in the New Mexico ESG Landscape

Several individuals and groups advocate for ESG principles and contribute to the state's sustainability efforts.

Researchers and Academics

• University of New Mexico (UNM): UNM researchers are involved in various ESG-related studies, including the Just Transition Grand Challenge initiative, which focuses on the social and economic implications of transitioning to a clean energy economy. This initiative explores ways to ensure a fair and equitable transition for workers and communities affected by the shift away from fossil fuels¹⁵.

Advocacy Groups

• 350 New Mexico: An organization focused on climate action and advocacy, working to reduce reliance on fossil fuels and promote clean energy solutions. They organize rallies, protests, and educational events to raise awareness about climate change and advocate for policies that support a transition to renewable energy¹⁵.
• New Mexico Climate Justice: This group advocates for environmental justice and climate action, amplifying the voices of communities impacted by pollution and climate change. They work to ensure that the transition to a clean energy economy is equitable and benefits all communities, particularly those that have been disproportionately affected by environmental pollution¹⁶.

Community Leaders

• CSCNM Team: The Coalition of Sustainable Communities NM has a team of experts and community leaders dedicated to advancing sustainability in New Mexico. They bring diverse perspectives and expertise to address sustainability challenges and promote community-level solutions¹⁷.

Educational Initiatives

• Four Corners College and Career Pathways Partnership: This initiative emphasizes student voices and community engagement in promoting sustainable economic development in the Four Corners region. They work with students, educators, and community members to develop educational programs that prepare the next generation for a sustainable future⁴.

New Mexico State Government's ESG Policies and Initiatives

The New Mexico state government has implemented various policies and initiatives to promote ESG principles and address environmental challenges.

Investment Policies

• New Mexico Permanent Funds Environmental, Social, and Governance Policy: This policy, adopted in August 2021, provides guidelines for incorporating ESG considerations into the management of the New Mexico Permanent Funds. The policy aims to ensure that investment decisions consider environmental, social, and governance factors, contributing to long-term sustainability and responsible investing¹⁸.

• These ESG considerations encompass a wide range of factors, including:

• Environmental considerations: How a fund or its investments perform as environmental stewards, considering factors such as energy efficiency, waste management, pollution, natural resource conservation, climate change, sustainability, water usage, consumer protection, biodiversity, deforestation, environmental risks, and treatment of animals.
• Social criteria: How a fund or its investments manage relationships with employees, vendors, stakeholders, and the communities in which they operate, considering factors such as business relationships, vendors' values, ethics, philanthropy, employee engagement, community relations, volunteerism, labor standards/working conditions, employee health & safety, gender, diversity, equity & inclusion, human rights, customer satisfaction, data protection & privacy.
• Governance matters: How a fund and the entities in which it invests handle leadership, compensation, audits/audit committee structure, internal controls, and investor rights, considering factors such as accurate and transparent accounting techniques and shareholder rights¹⁹.

Environmental Legislation

• Energy Transition Act: Sets renewable energy targets for the power sector and establishes funds to support communities and workforces transitioning to clean energy. This act aims to accelerate the adoption of renewable energy sources and ensure a just transition for workers and communities affected by the shift away from fossil fuels²⁰.
• Healthy Soils Act: Promotes soil health improvement for farmers and ranchers, contributing to carbon sequestration. This act encourages sustainable agricultural practices that improve soil health, increase carbon storage in soils, and enhance the resilience of agricultural lands²⁰.
• Forest and Watershed Restoration Act: Provides funding for projects that support climate resilience. This act supports efforts to restore forests and watersheds, which are essential for mitigating climate change impacts, protecting water resources, and enhancing biodiversity²⁰.
• Sustainable Economy Task Force: This task force develops a strategic plan for a just transition to a sustainable economy, reducing reliance on natural resource extraction. The task force brings together experts and stakeholders to develop a roadmap for a more sustainable and diversified economy that reduces dependence on extractive industries²⁰.

Workforce Development

• Executive Order on Climate-Ready Workforce: This order focuses on expanding and investing in a climate-ready workforce, with a goal of training 2,000 workers in climate-ready professions by 2026. This initiative aims to prepare the workforce for jobs in the growing clean energy sector and ensure that New Mexico has the skilled labor needed to support a sustainable economy²¹.

Environmental Regulations

• Hazardous Waste Management: New Mexico has regulations in place for the management of hazardous waste, with 15 Superfund sites and 2,663 regulated hazardous waste facilities as of February 2023. These regulations aim to protect public health and the environment by ensuring the safe handling, treatment, and disposal of hazardous waste²².

ESG in Albuquerque

Albuquerque, the largest city in New Mexico, has several initiatives and organizations focused on ESG.

Sustainability Initiatives

• Climate Action Plan: The City of Albuquerque has a Climate Action Plan that outlines strategies to reduce greenhouse gas emissions and promote sustainability. The plan includes goals for energy efficiency, renewable energy, sustainable transportation, and waste reduction²³.
• Solar Energy: Albuquerque encourages the use of solar energy through various programs and initiatives, including incentives for solar panel installations and community solar projects²³.
• Regional Climate Action Planning: The city is leading regional climate action planning efforts across the Albuquerque Metro Statistical Area, collaborating with neighboring communities to address climate change on a regional scale²³.

Organizations and Projects

• Bezos Earth Fund Greening America's Cities: This initiative supports equitable greening projects in Albuquerque, focusing on community gardens, native trees, and parks. The project aims to increase access to green spaces, improve air quality, and enhance the quality of life in underserved communities²⁴.
• Array Technologies: Headquartered in Albuquerque, Array Technologies is a leading manufacturer of solar tracking systems, contributing to the growth of the renewable energy sector in the city and the state⁶.

Workforce Development

• Jobs Training Albuquerque (JTA): This program prioritizes companies in the renewable and alternative energy product manufacturing industry, providing training and support for workers in this growing sector²⁵.

Social Responsibility

• Employer Support of the Guard and Reserve (ESGR): The New Mexico ESGR, a Department of Defense office, promotes employer support for National Guard and Reserve service members. This initiative aligns with the "Social" aspect of ESG by recognizing the importance of supporting employees who serve in the military and ensuring their rights and responsibilities are protected²⁶.

ESG in Santa Fe

While Albuquerque focuses on regional climate action and workforce development in the renewable energy sector, Santa Fe prioritizes long-term sustainability planning and social equity in its ESG initiatives.

Sustainability Initiatives

• Sustainable Santa Fe 25-Year Plan: This plan outlines strategies to achieve carbon neutrality, improve quality of life and social equity, enhance ecological resilience, and strengthen the economy. The plan provides a comprehensive framework for long-term sustainability in Santa Fe, addressing various aspects of environmental, social, and economic development²⁷.
• Carbon Neutrality: Santa Fe aims to achieve carbon neutrality through various initiatives and programs, such as promoting energy efficiency, investing in renewable energy, and reducing greenhouse gas emissions from transportation and buildings²⁷.
• Social Equity: The city prioritizes social equity in its sustainability efforts, ensuring that the benefits of sustainability are shared by all residents and that vulnerable communities are not disproportionately impacted by environmental challenges²⁷.

Organizations and Projects

• Santa Fe Relo: A corporate relocation company with a comprehensive ESG strategy, focusing on reducing carbon emissions, using recycled materials, and promoting social responsibility. They are committed to minimizing their environmental impact and promoting sustainable practices in the relocation industry²⁹.
• Santa Fe County Sustainability Initiatives: Santa Fe County is actively involved in reducing greenhouse gas emissions, adapting to climate change, and protecting nature. They implement various programs and initiatives to promote sustainability at the county level, including energy efficiency programs, renewable energy projects, and water conservation efforts³¹.

Other ESG-Focused Locations in New Mexico

While Albuquerque and Santa Fe have prominent ESG initiatives, other locations in New Mexico also contribute to the state's sustainability efforts.

• Southeast New Mexico: Home to the Oso Grande Wind farm, a significant renewable energy project developed by TEP, southeast New Mexico plays a crucial role in the state's clean energy transition⁸.
• Areas Served by Sendero ESG Solutions: Sendero ESG Solutions provides services to various locations in New Mexico, particularly those with oil and gas operations. Their work in these areas helps reduce emissions, improve environmental compliance, and promote responsible resource management in the energy sector¹¹.

Research and Reports on ESG in New Mexico

Several research papers, reports, and articles provide insights into ESG in New Mexico.

• University of New Mexico Libraries: UNM Libraries provide access to various ESG-related resources, including rankings, news, and data sources. These resources are valuable for researchers, students, and the public to learn more about ESG trends and best practices³³.
• ResearchGate: This platform hosts research papers on ESG, including studies on ESG research progress and future prospects. One such study, "ESG Research Progress and Future Prospects," provides a comprehensive overview of ESG research trends, highlighting the growing importance of ESG considerations in business and investment decisions. The study emphasizes the need for further research on ESG measurement, the impact of ESG on financial performance, and the role of ESG in risk management. These findings have implications for New Mexico as it continues to develop its ESG framework and promote sustainable practices³⁴.
• RePEc: This research database includes papers on ESG, such as a study on the interaction between ESG dimensions and their impact on economic consequences. This research explores the complex relationships between environmental, social, and governance factors and their combined effects on economic outcomes³⁵.
• New Mexico State Investment Council: The council has published its ESG policy, which provides insights into the state's approach to ESG investing. The policy outlines the council's commitment to considering ESG factors in investment decisions and provides guidelines for integrating these considerations into the investment process¹⁹.
• PNM Resources Sustainability Report: This report provides data and information on PNM Resources' ESG performance, including its environmental impact, social responsibility initiatives, and governance practices³⁶.
• Harvard Law School Forum on Corporate Governance: This forum published an article on ESG battlegrounds and how states are shaping the regulatory landscape. The article provides an overview of the different approaches to ESG regulation across the United States, highlighting the ongoing debate and the varying levels of support for ESG considerations in different states¹⁸.
• ESG Dive: This publication covers ESG news and analysis, including articles on key states shaping ESG regulations and Ebon Solar's investment in a solar panel manufacturing plant in Albuquerque. These articles provide insights into the latest developments in the ESG landscape and how they are impacting businesses and investors¹.
• ESG News: This website provides news and information on ESG initiatives, including an article on P2 and its collaboration with New Mexico customers on an ESG initiative to capture and report venting and flaring data. This article highlights the importance of data transparency and collaboration in addressing environmental challenges in the energy sector³⁸.

Conclusion

New Mexico is actively engaged in promoting ESG principles and implementing sustainability initiatives across various sectors. The state has a diverse range of organizations, companies, and individuals dedicated to environmental conservation, social responsibility, and good governance. With supportive government policies and a growing awareness of ESG issues, New Mexico is well-positioned to continue its progress toward a more sustainable future.

Key ESG trends in New Mexico include a strong focus on renewable energy development, energy efficiency initiatives, and community-level sustainability programs. The state government has implemented policies that support ESG integration in investment decisions, promote sustainable economic development, and encourage workforce development in the clean energy sector.

Compared to national trends, New Mexico appears to be taking a more proactive and supportive approach to ESG. While some states are actively opposing ESG considerations, New Mexico is embracing these principles and integrating them into its policies and initiatives. This suggests that New Mexico is well-positioned to attract businesses and investors that prioritize sustainability and social responsibility.

However, potential challenges for ESG development in New Mexico include the need for continued investment in renewable energy infrastructure, ensuring a just transition for workers and communities affected by the shift away from fossil fuels, and addressing water scarcity issues in the context of climate change.

Despite these challenges, New Mexico has significant opportunities to further advance its ESG goals. The state's abundant sunshine and wind resources provide a strong foundation for renewable energy development. Its commitment to social equity can attract businesses and investors that prioritize diversity and inclusion. And its collaborative approach to sustainability can foster innovation and create a more resilient economy.

In conclusion, continued ESG efforts in New Mexico are essential for ensuring a sustainable and prosperous future for the state. By embracing ESG principles, New Mexico can create a more equitable and resilient economy, protect its natural resources, and enhance the well-being of its communities.

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