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 54 is higher than 72% 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 53,634,400 kg CO2e, which includes 245,100 kg CO2e from Scope 1 and 49,596,500 kg CO2e from Scope 2 emissions. The Scope 3 emissions were significantly higher, amounting to about 9,359,483,598 kg CO2e. This data reflects a comprehensive approach to emissions reporting, covering all three scopes. Banorte has set a near-term intensity reduction target of 30% for Scope 1 and Scope 2 emissions, using 2009 as the base year and aiming for completion by 2020. This target was established to enhance operational efficiency and reduce the carbon footprint per full-time equivalent (FTE) employee. Additionally, Banorte has committed to portfolio targets that cover 22% of its total investment and lending activities, aligning with the Science Based Targets initiative (SBTi) to ensure that its operations are consistent with the reductions required to limit global warming to 1.5°C. These targets were set in 2023 and are part of Banorte's broader climate strategy. Overall, Banorte's emissions data and climate commitments demonstrate a proactive stance in addressing climate change, with a focus on both operational emissions and the impact of its financial activities.
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| 2013 | 2014 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 4,021,110 | 0,000,000 | 0,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 | 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 | 00,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
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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