Banorte, accelerating global sustainability initiatives designed to fight climate change, presented its first climate report, prioritizing the financial institution’s transition to cleaner technologies and business practices.

The report demonstrates Banorte’s efforts putting sustainability at the core of its business, aligned with recommendations of the Task Force on Climate-Related Financial Disclosures, a market-led initiative that seeks to integrate nature into financial and business decision-making and shift global financial flows toward nature-positive outcomes.

“As a financial institution, we understand how important it is to incorporate physical climate aspects and transitional goals into decision-making to properly manage the direct and indirect impact we have when operating,” Banorte Chairman Carlos Hank González said. “That is one reason we have pledged to decarbonize all of our loan and investment portfolios by 2050.”


The bank’s climate change report considers consequences for the environment, the economy and humans. Its approach to a sustainable business model is fashioned into six actionable pillars:

  • Governance: Develop policies and workgroups on climate change to support decisions made by governance bodies and ensure these span the entire organization.
  • Strategy: Guarantee the group’s resilience to climate change and accelerate the transition to a low-carbon economy.
  • Risk management: Analyze risks and impacts relating to climate, nature and society, and identify possible future scenarios.
  • Metrics and targets: Measure the group’s direct and indirect impact on climate change and define decarbonization targets based on scientific data and responsible financing.
  • Stakeholders: Participate actively with clients, regulatory bodies and other stakeholders to encourage climate action.
  • Transparency: Publicize the group’s commitments and actions regarding climate change.

In a message accompanying the report, Carlos Hank González said the financial industry must focus on three key areas, including understanding the time urgency for defining plans and strategies given the immediate climate crisis.

He said it must look at data within research, information and analysis to shift the flow of capital toward sustainable activities.

And, he said, it should invest in training on climate and biodiversity for financial institutions worldwide through specialized teams to provide guidance, especially in emerging markets, to understand the depth and urgency of climate risk.