Climate change is one of the greatest threats facing humanity today, a product of natural and anthropogenic factors. The increase in the severity and frequency of weather events, combined with the emergence of new regulations, technology, market trends, consumer preferences, and others, presents unprecedented challenges for society, the environment, and the global economy.
At GFNorte, we assume the responsibility that the financial sector has and join the call to action, reaffirming our commitment to the Paris Agreement and the global efforts to limit the temperature rise to 1.5 °C, as well as to strengthen our ambition and achieve net zero greenhouse gas emissions by 2050. We incorporate physical risks and transition risks as part of our decision-making, promoting among our clients the mitigation of climate impacts and adaptation to its effects.
As part of our social and environmental due diligence and in line with the Equator Principles as well as national legislation, the SEMS examines the performance of projects seeking financing, in accordance with the guidelines of the IFC Performance Standards, particularly on the following aspects:
- Assessment of environmental and social risks and impacts
- Climate risk assessment
- Analysis of greenhouse gas-intensive alternatives
- Resource efficiency and pollution prevention
- Greenhouse gas emissions
Equator Principles IV suggests that climate risk assessment address both physical and transition risks, that emissions calculations be carried out under standardized protocols, and that the application of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) be promoted among clients.
Climate Change Policy