Banorte Sustainability Profile
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 68 is higher than 82% 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 2024, Grupo Financiero Banorte reported total carbon emissions of approximately 63.3 million kg CO2e, comprising 3.1 million kg CO2e from Scope 1, 50.5 million kg CO2e from Scope 2, and approximately 9.7 million kg CO2e from Scope 3 emissions. The bank has set a near-term target to reduce its emissions intensity by 30% per full-time equivalent (FTE) from a 2009 baseline by 2020, which reflects its commitment to sustainability. Banorte's climate commitments include aligning its portfolio targets with the Science Based Targets initiative (SBTi), covering 22% of its total investment and lending by total assets as of 2021. The targets are designed to be consistent with the reductions required to limit global warming to 1.5°C. The bank has also committed to further emissions reductions by 2030, with specific targets set for both Scope 1 and Scope 2 emissions. Overall, Banorte's emissions data and climate initiatives demonstrate a proactive approach to addressing climate change, with a focus on reducing its carbon footprint and promoting sustainable finance practices within the financial sector.
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Access structured emissions data, company-specific emission factors, and source documents
| 2013 | 2014 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 4,021,110 | 0,000,000 | 0,000 | 0,000,000 | 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 | 00,000,000 |
| Scope 3 | - | 00,000,000 | - | 000,000,000 | - | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Banorte's Industry?
How Carbon Intensive is Banorte's Location?
Banorte's Scope 3 Categories Breakdown
Banorte's Scope 3 emissions, which increased by 19% last year and increased by approximately 22% since 2014, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 44% of total emissions under the GHG Protocol, with "Capital Goods" being the largest emissions source at 48% of Scope 3 emissions.
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Banorte's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Banorte has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Banorte's sustainability data and climate commitments
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