Banorte

Banorte, a financial intermediation services company headquartered in Mexico, reported an estimated total of approximately 57.9 million kg CO2e for Scope 1 and 2 emissions, and approximately 38.1 million kg CO2e for Scope 3 emissions in 2025. In 2024, the company's Scope 1 emissions were approximately 3.1 million kg CO2e, Scope 2 emissions were approximately 50.5 million kg CO2e, and Scope 3 emissions were approximately 50.7 million kg CO2e. This includes about 20.1 million kg CO2e from capital goods, approximately 1.1 million kg CO2e from business travel, about 7.1 million kg CO2e from purchased goods and services, approximately 248,300 kg CO2e from waste generated in operations, about 10.1 million kg CO2e from fuel and energy-related activities, roughly 2.2 million kg CO2e from upstream transportation and distribution, and approximately 924,000 kg CO2e from downstream transportation and distribution.

Banorte has set several climate commitments. The company has a near-term Science Based Target initiative (SBTi) target, classified as 1.5°C, to cover its Scope 1 and 2 emissions, with a target year of 2030. These targets cover 22% of its total investment and lending by total assets as of 2021. Additionally, Banorte aims to reduce absolute Scope 1 and 2 GHG emissions by 42.1% by 2030, using 2020 as the base year. The company also previously aimed for a 30% intensity reduction in both Scope 1 and Scope 2 emissions per full-time equivalent (FTE) by 2020, using 2009 as the base year. All emissions and climate commitment data are reported by Grupo Financiero Banorte, S.A.B. de C.V.