Banorte’s socially responsible business operations has earned it a No. 1 world rating.
Premier news outlet Newsweek and global data firm Statista has ranked Banorte as the top institution on their joint list of the World’s Most Socially Responsible Banks in 2022.
The sole Mexican bank among 175 institutions making the list, Banorte was recognized for its support and advances in Environment, Social and Corporate Governance (ESG) practices.
“Banorte will continue to maximize its ESG efforts while standing firm that it is more than a bank, but also a vessel toward a more sustainable and transformed tomorrow,” said Banorte Chairman Carlos Hank González.
It marked the first time Newsweek and Statista joined forces to name and rank “The World’s Most Socially Responsible Banks,” based on an analysis of publicly available 2020 corporate responsibility data for 750 banks in 35 countries and on a survey of more than 45,000 bank customers.
The sponsors said the ranking reflects a “a holistic view of corporate responsibility
that considers all three pillars of ESG.”
Banorte received the highest overall score of 86.80, and did well in all other categories:
- Environmental concerns, 91.40, covering emissions, energy use and sustainable business activities.
- Social concerns, 77, covering diversity and employees, accessibility, philanthropy and engagement.
- Corporate governance concerns, 92.80, covering disclosure and transparency and economic performance.
“Customers are no longer choosing between different financial institutions, but the type of services provided by these banks that are specifically tailored to their tastes, priorities and needs,” said Carlos Hank González. “And social responsibility is something they prioritize.”
For its part, Banorte has reduced almost 30% of energy use since 2009, earning a spot in the 2022 S&P Sustainability Yearbook.
It also has pioneered the implementation of a Social and Environmental Risk Management System in Mexico that evaluates risks and possible effects on the environment and communities before financing any project.
In April 2021, Banorte became a founding signatory of the Net Zero Banking Alliance and
in 2022 joined the United Nations’ campaign to deliver access to digital bank accounts to refugees in Mexico. Additionally, through the Banorte Foundation, the organization continues to showcase social involvement and commitment to the community.
As for the top ranking, Newsweek and Statista said more than 45,000 consumers were surveyed in 35 countries between November 2021 and January 2022. Consumers were surveyed on their perception of banks’ corporate sustainability reports and activities within the country they live in.
More than 30 key performance indicators (KPI) across three areas of ESG had been researched per bank. The KPIs were defined so that they can be compared across banks regardless of size.