Banorte

Banorte's reported carbon emissions

Banorte, headquartered in MX and operating in Financial Intermediation Services, except insurance and pension funding services (65), has reported a total of **approximately 53.6 billion kg CO2e** for Scope 1 and 2 emissions in 2024. In the same year, Scope 3 emissions amounted to **approximately 38.1 million kg CO2e** from specific categories, with Scope 3 investments contributing an additional **approximately 11.1 billion kg CO2e**. In 2023, Banorte's Scope 1 and 2 emissions totalled **approximately 62.4 billion kg CO2e**, alongside Scope 3 emissions of **approximately 21.8 million kg CO2e** across various categories. For 2022, Scope 1 and 2 emissions were reported as **approximately 60.0 billion kg CO2e**, with Scope 3 emissions totalling **approximately 10.3 billion kg CO2e**. Banorte has set an absolute reduction target of **42.1% for Scope 1 and 2 greenhouse gas emissions by 2030**, using 2020 as the base year. Previously, between 2009 and 2020, the company aimed for a 30% intensity reduction in Scope 1 and 2 emissions per full-time equivalent (FTE). The organisation has near-term Science Based Targets initiative (SBTi) classification of 1.5°C for its targets, set to be achieved by 2030. This includes targets for company operations (Scopes 1 and 2). Their portfolio targets as of 2021 covered 22% of total investment and lending by total assets.