Banorte
Banorte, officially known as Grupo Financiero Banorte, is a leading financial institution headquartered in Mexico (MX). Established in 1899, it has grown to become one of the largest banks in the country, with a strong presence in various regions, including Mexico City and the northern states. Operating primarily in the banking and financial services industry, Banorte offers a comprehensive range of products, including personal and commercial banking, investment services, and insurance. Its commitment to innovation and customer service distinguishes it from competitors, making it a preferred choice for many. With a robust market position, Banorte has achieved significant milestones, including its listing on the Mexican Stock Exchange and recognition for its sustainable practices. The bank continues to play a pivotal role in Mexico's economic landscape, serving millions of customers with tailored financial solutions.
DitchCarbon Score
How does Banorte's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Banorte's score of 43 is higher than 92% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Banorte's reported carbon emissions
In 2023, Grupo Financiero Banorte, headquartered in Mexico, reported total carbon emissions of approximately 62,367,200 kg CO2e. This figure includes 3,424,900 kg CO2e from Scope 1 emissions, primarily from stationary combustion, and 58,942,300 kg CO2e from Scope 2 emissions related to purchased electricity. Additionally, Scope 3 emissions were significant, with 18,013,000 kg CO2e attributed to capital goods and other categories. Banorte has set near-term targets aligned with the 1.5°C climate goal, aiming to cover 22% of its total investment and lending portfolio by 2030. These targets are designed to ensure that emissions from the company's operations (Scopes 1 and 2) are consistent with necessary reductions to limit global warming. The bank has committed to these targets, although it has not yet pledged to achieve net-zero emissions. In previous years, Banorte's emissions have shown fluctuations, with a notable total of approximately 66,851,910 kg CO2e in 2020, which included significant Scope 3 emissions. The bank's ongoing commitment to reducing its carbon footprint reflects its recognition of the importance of sustainability in the financial sector.
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| 2013 | 2014 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 4,021,110 | 0,000,000 | 0,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 65,626,410 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | 00,000,000 | - | 000,000,000 | 0,000,000 | 00,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Banorte is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
