GAP Secures Independent Assurance for Sustainability-Linked Bond KPIs
Event summary
- GAP obtained independent assurance for its sustainability-linked bonds (GAP 22L, GAP 23L, GAP 23-2L, GAP 24L, GAP 24-2L) from KPMG Cárdenas Dosal, S.C.
- The assurance covers a 25% reduction in absolute Scope 1 and Scope 2 greenhouse gas emissions (CO2, CH4, NOx) across all operations as of December 31, 2025, compared to the 2019 baseline.
- KPMG concluded that the Key Performance Indicator (KPI) was achieved, based on procedures and evidence obtained, including the Ruby Canyon report.
- This follows GAP's February 2026 announcement of achieving its 2025 emissions reduction target.
The big picture
GAP's successful achievement and independent assurance of its sustainability KPIs underscore the growing importance of ESG metrics in the airport operations sector. As regulatory scrutiny on emissions intensifies, GAP's move positions it favorably among peers, potentially influencing future sustainability-linked financing deals in the industry. The company's operations across Mexico and Jamaica add scale to its emissions reduction efforts, making it a notable case study in sustainable infrastructure.
What we're watching
- ESG Credibility
- How GAP's independent assurance will impact investor confidence in its sustainability commitments.
- Regulatory Compliance
- Whether the achieved KPIs will set a precedent for other airport operators under similar sustainability-linked financing frameworks.
- Operational Efficiency
- The pace at which GAP can maintain or further reduce its greenhouse gas emissions while expanding its operations.
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