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 46 is higher than 69% 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, based in Mexico, reported total carbon emissions of approximately 62,367,200 kg CO2e, which includes 3,424,900 kg CO2e from Scope 1 and 58,942,300 kg CO2e from Scope 2 emissions. Additionally, Scope 3 emissions were significant, with capital goods contributing about 18,013,000 kg CO2e, business travel at 1,298,000 kg CO2e, and purchased goods and services at 11,708,000 kg CO2e. Banorte has set ambitious reduction targets, aiming for a 30% reduction in emissions intensity per full-time equivalent (FTE) by 2020, using 2009 as the base year. This target applies to both Scope 1 and Scope 2 emissions. Furthermore, the bank has committed to 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. These targets are consistent with the reductions required to limit global warming to 1.5°C. The bank's emissions data is sourced directly from its own reporting and does not cascade from any parent organization. Banorte continues to focus on enhancing its sustainability practices and reducing its carbon footprint 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 | - | 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.
