In 2024, Grupo Financiero Banorte completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Grupo Financiero Banorte has also provided a category-level breakdown for 8 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 3,114.8a | 3,424.9a | 3,028.4a | |
Total Scope 2 | ||||
Market-Based | 50,519.6a | N/A | N/A | |
Location-Based | N/A | 58,942.3a | 56,987.9a | |
Unspecified Calculation Method | N/A | N/A | N/A | |
Total Scope 3 | 41,736.2a | 11,597,920a | 10,545,688a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.2937a | 0.2981a | 0.3289a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Grupo Financiero Banorte amounted to 53,634.4 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Grupo Financiero Banorte decreased by 14%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Grupo Financiero Banorte were 3,114.8 metric tons of CO₂ equivalent (tCO₂e).a
Since 2020, Grupo Financiero Banorte's Scope 1 emissions have decreased by 10.02%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Grupo Financiero Banorte's Scope 1 emissions decreased by 9.05%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Grupo Financiero Banorte reported Scope 2 greenhouse gas (GHG) emissions of 50,519.6 tCO₂e using the market-based method.a
In 2024, Grupo Financiero Banorte reported its Scope 2 emissions using the market-based method.a
In 2024, Grupo Financiero Banorte reported 41,736.2 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Grupo Financiero Banorte includes a breakdown across 7 of the 15 Scope 3 categories defined by the GHG Protocol, down from 8 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
In 2024, Grupo Financiero Banorte reported total Scope 3 emissions of 41,736.2 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2023), Grupo Financiero Banorte's Scope 3 emissions decreased by 99.64%, highlighting the company's efforts to lower indirect emissions from its value chain.a
In 2024, Grupo Financiero Banorte reported emissions for 7 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Grupo Financiero Banorte's Scope 3 emissions were:a
In 2024, Grupo Financiero Banorte reported Scope 1 greenhouse gas (GHG) emissions of 3,114.8 tCO₂e and total revenues of USD 10,605 millions. This translates into an emissions intensity of 0.29 tCO₂e per millions USD.a
In 2024, Grupo Financiero Banorte reported a Scope 1 emissions intensity of 0.29 tCO₂e per millions USD. Compared to the peer group median of 0.89, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Grupo Financiero Banorte ranked 7 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Grupo Financiero Banorte is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Grupo Financiero Banorte reported a total carbon footprint of 95,370.6 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 99.18% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Grupo Financiero Banorte's total carbon footprint was Scope 2 emissions, accounting for 52.97% of the company's total carbon footprint, followed by Scope 3 emissions at 43.76%.a