Integridad Corporativa 500 (IC500): A Collective Transparency Benchmark Transforming Corporate Integrity Standards in Mexico

Corporate Integrity 500 (Integridad Corporativa 500 or IC500) is a collective action initiative launched in 2017 to strengthen corporate integrity and transparency among Mexico’s largest companies.

Led by TMX and MCCI, in collaboration with the business magazine Expansión, the initiative evaluates the existence, quality and accessibility of anti-corruption and integrity policies of the 500 largest companies operating in Mexico.

IC500 emerged in response to a structural challenge: while national and international anti-corruption frameworks increasingly expect companies to adopt integrity programmes, public information about those commitments has historically been fragmented or inaccessible.

The goal for this initiative is not to certify companies or measure corruption itself, but to transform transparency into a market incentive. By making corporate integrity policies visible and comparable, IC500 has encouraged companies to strengthen internal governance, comply with regulatory expectations and translate integrity commitments into responsible business practices.

The methodology is based on Transparency International’s TRAC (Transparency in Corporate Reporting Anti-Corruption) framework, adapted to the Mexican corporate context

IC500 operates through a collaborative model that brings together civil society organisations (TMX and MCCI), the business media ecosystem (Expansión), and the corporate sector represented by Mexico’s 500 largest companies.

By making integrity policies visible and comparable across companies and sectors, the initiative encourages constructive competition ,shared learning and improvements in corporate governance.

Each year IC500 reviews publicly available information from the websites of the 500 largest companies in Mexico, evaluating 29 indicators across five components: integrity commitments, third-party relationships, training and dissemination, whistleblowing mechanisms, and accessibility of information.

Results are released annually through Expansión, a leading business magazine in the country. This ensures broad visibility across the business community.

Beyond measurement, IC500 has become a platform for dialogue on corporate integrity. Companies frequently contact the IC500 team to understand the evaluation criteria and improve the content and transparency of their integrity policies. To safeguard independence and avoid conflicts of interest, IC500 evaluates companies exclusively based on publicly available information.

Companies with leading practices have also shared their experiences implementing integrity programmes, supporting peer learning across the corporate sector.