We have a strong commitment to the environment; therefore, we implement initiatives aimed at mitigating the environmental impact of our operations through the efficient use of resources and a culture of environmental care inside and outside the institution.
Environmental management
Through our Environmental Policy based on regulatory frameworks, national and international initiatives with the international standard ISO 14001, we developed an environmental management system to identify and monitor our environmental impacts, comply with applicable legislation, properly manage our resources such as energy, water and waste and minimize negative impacts on our operations.
Likewise, we have a matrix of environmental impacts, which allows us to identify the current environmental legislation applicable to the sector, as well as to manage 128 operational aspects with six possible impacts, which could translate into current or emerging risks on environmental matters.
Operational eco-efficiency
We established a strategy focused on eco-efficiency of our operations. Eco-efficiency implies proper management of resources, which leads to less generation of waste and pollution, reflected in a decrease in operating costs. To mitigate our environmental footprint, we consider different aspects associated with our impacts, as follows:
1. Energy
A vital issue in order to reduce our environmental footprint is energy saving. We use different methods of measuring our energy consumption that allow us to identify and generate energy efficiency strategies in order to reduce our overall consumption. Our buildings and branches have features that allow them to operate efficiently, such as double-insulated glass, use of sunlight, and energy-efficient equipment. The Integral Energy Control System (SICE) in our branch network allows us to regulate the energy consumption of the equipment in an automated way from the operational hours of the luminaries and air conditioners. On the other hand, we know that it is essential to identify the origin of our energy supply and move to the use of clean energy, so we are in the process of substituting 70% of the energy consumed by the banking sector with renewable sources, specifically wind energy. This prompts us to reduce approximately 50% of the Group's GHG emissions.
2. Sustainable mobility
We have a Sustainable Mobility Program that aims to generate an Institutional Mobility Plan (PMI) in the areas with the highest concentration of collaborators. This program allows us to know the profile of our personnel regarding their times transporting from home to work and vice versa, safety in different means of transport, associated costs, as well as the emissions of polluting gases into the atmosphere according to the mode of transport. In addition, this Program encourages intelligent mobility in the transport used by employees inside and outside the offices, diversifying less polluting options.
3. Greenhouse gas (GHG) emissions
In order to mitigate greenhouse gas emissions to the atmosphere in relation to climate change, we control direct emissions (scope 1), and indirect (scope 2), and indirect uncontrollable (scope 3). We have a Pollutant Management System based on ISO 14064 that specifies the principles and requirements at the organization level for quantifying and reporting greenhouse gas emissions and removals. This includes its development, management, reporting and verification of the Group's GHG inventory. Likewise, we seek to increase our measurement scope, so we are working on identifying and calculating those emissions belonging to scope 3 associated with our value chain.
It is essential to verify that the emissions information we report is reliable and consistent. This is why we annually verify our emissions inventory through two external consultants, one of them a specialized third party accredited by SEMARNAT. We annually show the total emissions to the atmosphere in a transparent manner and thus seek mitigation alternatives.
4. Waste
We have a Waste Separation Program in six of our most populated administrative buildings located in Mexico City and Monterrey. It is essential to share with employees the importance of separating waste and the impact it entails on our environment. With this Program we achieve control over recyclable and non-recyclable waste from our operations in order to promote circular economy initiatives. The main objective is to be able to minimize the generation of waste and thus be able to take advantage of all those materials that can be re-integrated into the production chain and have a double life within the Group's operations. In addition, we promote the efficient use of paper, this being the waste that is most generated in our operations, by expanding the use of digital media and cross-selling, in order to reduce its consumption.
5. Water
To promote efficient water use, our administrative buildings have water-saver sinks, dry urinals, and energy-efficient toilets. In addition, we have a water collection system on the roofs and conventional drains in two of our buildings with the highest concentration, creating a conduction network in order to take the collected water to a rainwater recovery cistern.
6. Climate change
In line with our commitment with climate change, we developed reduction goals for GHG emissions Scope 1 and Scope 2. With 100% coverage of the Group´s operations, goals were developed according to the Science Based Targets´ absolute contraction methodology and they are aligned to the 1.5°C scenario.
In addition, we established reduction goals for emissions Scope 3, category 15 (also known as financed emissions), for the higher intensity carbon sector of Banorte´s loan portfolio (subsidiary). These goals were developed based on the initiative guidelines of the Net Zero Banking Alliance (NZBA), with a 43.5% coverage of Banorte´s total portfolio.
NOTE*: The "Industry Coverage" column is expressed in terms of loan portfolio balances.
NOTE**: The "Ranges" column represents the bank's direct contribution margin over the target based on the trajectory of clients in different scenarios. Its purpose is to serve as a tool to develop the decarbonization strategy. These were approved by the Board of Directors during the 3Q22 and 1Q23 sessions and are presented in an informative manner in the table.
See our Decarbonization Progress Report.
In October 2023, we received validation from the Science Based Targets initiative (SBTi) for the emission reduction targets financed at the Group level, which consolidate Banorte´s previously mentioned targets, and those of other subsidiaries in different asset classes. This make us the first Financial Group in LATAM to successfully complete the validation process.
For more detail on our climate strategy, please visit our annual CDP reports: 2022, 2021, 2020, 2019, 2018.
At Grupo Financiero Banorte, we understand that climate change is a phenomenon that we are already facing and that, if it is not addressed as soon as possible, it will represent one of the greatest problems of the century for society in general. For this reason, it is important to properly identify and manage climate risks around our operations through different adaptation measures. See our 2021 Climate Adaptation Plan.
Environmental culture
We promote the sustainable use of urban spaces. Our main line of action is the green roof, located in the Roberto González Barrera Contact Center, in Monterrey. The rooftop has a landscape of 1,784 m2, where we conserve 72 species of Mexican plants, 13 of them under the NOM-059-SEMARNAT-2010 standard for environmental protection. It is important to generate awareness about the importance of the different components of an ecosystem and the environmental and social benefits that it entails. Because of that, we have a tour guide that defines the contributions to the Sustainable Development Goals (SDG).
In addition to this, we encourage environmental awareness through workshops, talks and trainings that are aimed at our stakeholders in the different essential aspects of caring for the environment, such as: waste management, climate change, awareness of ecosystem services and improvement in resource management habits. Strategic alliances are an important part for the development of projects aimed at continuous improvement in mitigating negative impacts on the environment. Some of our allies are:
1. Institute for Transportation and Policy Development
Its objective is to promote transport solutions that reduce GHG emissions, environmental pollution, poverty, improve economic development and quality of life in cities.
2. Alliance for Climate Action
Its objective is the creation and strengthening of synergies in matters of mitigation and adaptation to climate change. Its purpose is to actively contribute to the Paris Agreement goal of having the average global temperature rise below 1.5C.
3. Reforestamos Mexico
They drive sustainable development through the recovery of ecosystems and guide organizations towards the Sustainable Development Goals.
