Banorte

Banorte, a financial intermediation services company headquartered in Mexico, reported an estimated total of 57,893,900 kg CO2e in Scope 1 and 2 emissions for 2025. Their Scope 3 emissions for the same year were approximately 38,127,900 kg CO2e, with a significant portion, 11,066,229,000 kg CO2e, attributed to investments.

In 2024, Banorte's total Scope 1 emissions were 3,114,800 kg CO2e, and Scope 2 emissions were 50,519,600 kg CO2e. Their Scope 3 emissions in 2024 included 20,056,900 kg CO2e from capital goods, 1,054,000 kg CO2e from business travel, and 7,120,100 kg CO2e from purchased goods and services.

Looking back to 2023, Banorte's Scope 1 emissions were 3,424,900 kg CO2e, and Scope 2 emissions were 58,942,300 kg CO2e. Key Scope 3 categories for 2023 included capital goods at 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 several climate commitments. Notably, they aim to reduce absolute Scope 1 and 2 GHG emissions by 42.1% by 2030, using a 2020 baseline. They previously targeted a 30% reduction in Scope 1 and Scope 2 intensity (tonnes CO2e/FTE) by 2020, against a 2009 baseline.

Banorte has also set Science Based Targets initiative (SBTi) near-term targets, classified as 1.5°C compatible, for 2030 (also cited as 2026 in another SBTi entry). These targets cover greenhouse gas emissions from company operations (Scopes 1 and 2). Their portfolio targets cover 22% of total investment and lending by total assets as of 2021.