Banorte

Banorte, a financial intermediation services company headquartered in MX, reported its latest Scope 1 and 2 emissions data for 2024, totalling approximately 53,634,400 kg CO2e. This includes about 3,114,800 kg CO2e from Scope 1 and approximately 50,519,600 kg CO2e from Scope 2. For the same year, Banorte's Scope 3 emissions included approximately 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, in 2023, Banorte's Scope 1 emissions were approximately 3,424,900 kg CO2e and Scope 2 emissions were about 58,942,300 kg CO2e, for a combined total of around 62,367,200 kg CO2e. Their 2023 Scope 3 emissions included approximately 18,013,000 kg CO2e from capital goods, 1,298,000 kg CO2e from business travel, and 11,708,000 kg CO2e from purchased goods and services.

In 2022, Scope 1 emissions were roughly 3,028,400 kg CO2e and Scope 2 emissions were about 56,987,900 kg CO2e, leading to a combined Scope 1 and 2 total of approximately 60,016,200 kg CO2e. Scope 3 emissions for 2022 included approximately 828,000 kg CO2e from capital goods and 262,000 kg CO2e from business travel.

Banorte has established near-term Science Based Targets initiative (SBTi) targets, classified as 1.5°C aligned, with a target year of 2030. These targets, set by Grupo Financiero Banorte, S.A.B. de C.V., cover 22% of its total investment and lending by total assets as of 2021. The SBTi classification confirms that the targets for Scope 1 and 2 operational emissions are consistent with reductions required to keep warming to 1.5°C. Additionally, Banorte aims to reduce absolute Scope 1 and 2 GHG emissions by 42.1% by 2030, using 2020 as a baseline. The company also previously set an intensity target in 2014 to achieve a 30% reduction in Scope 1 and Scope 2 emissions per full-time equivalent (FTE) by 2020, against a 2009 baseline.