For the first time, Banorte has been included in the S&P 2022 Sustainability Yearbook, one of the biggest and most comprehensive databases on corporate sustainability around the world. This is another major accomplishment reflecting Banorte’s commitment to sustainability in the financial industry.
“Over the last decade, we have witnessed the impact that climate change is having on the world,” Banorte Chairman Carlos Hank González said. “Grupo Financiero Banorte has embarked in several global sustainable development initiatives with the understanding that the financial sector has a key role in ensuring sustainability across all industries.”
Of the 7,554 global companies from 61 industries that responded to the S&P Corporate Sustainability Assessment, the top 15% were selected to be included in the 2022 Sustainability Yearbook. Notably, 10 Mexican companies entered this year with Banorte one of them.
S&P Global said that to be listed in the Yearbook “companies must score within the top 15% of their industry and must achieve an S&P Global ESG Score within 30% of their industry’s top-performing company.”
While the report focuses on sustainability measures, its themes are important not just to ESG practitioners but also to business leaders around the globe. The report is based on in-depth data analysis and shows how companies are adapting to rapid changes.
This year’s participants, like Banorte, show extensive commitment to better climate action through transitioning to a low carbon economy, pledging to corporate diversity, investing in sustainable practices to partnering with climate advocates and groups.
As an ESG champion, Banorte is a strong advocate and participant across all these activities, developing strategies and operations that help customers, clients, employees and stakeholders embark on an environmentally forward journey.
“Sustainability is part of our DNA,” Carlos Hank González said. “As a Mexican financial group and as part of Latin America and the Caribbean, we are aware of the natural wealth that our geographical position gives us and, for the same reason, we are committed to protecting it.”
He also said the financial sector’s role in generating measurable actions must be rooted in data. To shift the flow of capital toward sustainable and nature-positive activities, the financial sector needs more research, information and analysis.
Also important: climate and biodiversity training. He said financial institutions in many regions of the world still lack the experience and knowledge on climate risks. Specialized teams are needed to provide guidance, especially in emerging markets.
For more on the S&P 2022 Sustainability Yearbook, click here.