In 2019, Banorte was honored to be among the founding signatories of the Principles for Responsible Banking. This enterprise is part of the UN Environment Program Finance Initiative which works to accelerate a positive global transition for people and the planet.
Four years since its creation, the Principles for Responsible Banking (PRB) boasts over 300 members, in 80 countries, representing nearly half of the world’s banking industry. The Principles are the world’s leading framework for responsible banking – unprecedented in their scale and scope, bringing banks across the world together to work on the most challenging and critical topics facing humanity and the environment.
The PRB calls on banks to align their decision making and lending and investment strategies with the UN’s Sustainable Development Goals, the Paris Climate Agreement, and the Net-Zero Banking Alliance.
The Principles include:
- Aligning business strategies with customer goals
- Increasing positive impact and managing environmental risk
- Working responsibly with clients and customers to encourage sustainable practices
- Engaging with stakeholders to achieve societal goals
- Develop a culture of responsible banking
- Maintaining transparency and accountability regarding the implementation of these principles
Since the inception of the PRB, Banorte has been proud to lead the global banking community in representing the goals and convictions that will best serve humanity and the environment. Under the leadership of Chairman Carlos Hank Gonzalez, Banorte remains firm in its belief that cutting carbon emissions is a key factor in fighting climate change and preserving the planet for future generations. Implementing the PRB helps Banorte to future-proof the businesses by performing stronger risk management, undertaking portfolio impact assessment, and unlocking new business opportunities.
Banorte has always demonstrated the utmost concern for the strength and health of the Mexican people. It was a natural fit for the bank to sign on to the PRB, whose principles represent so much of what Banorte stands for. Hank Gonzalez understands that when banks integrate these tenets into their strategies and visions, they make sustainable finance a core aspect of the conversation, focusing on these goals across portfolios and activities. The comprehensive PRB framework guides banks along a clear journey and provides the tools, information, and expertise to operationalize sustainability into their strategy and operations, and to stay ahead of the curve on sustainability issues
Banorte looks forward to many more years of responsible banking!