MEXICO CITY , May 31, 2022 /PRNewswire/ -- Grupo Financiero Banorte, expanding its support of sustainable financing, announced today that two Banorte subsidiaries will follow an international advisory board's guidelines to help investors access higher quality ESG information for decision-making.
Chairman Carlos Hank González said Afore XXI Banorte and Operadora de Fondos will promote International Sustainability Standards Board (ISSB) criteria, aimed at developing global benchmarks that respond to the needs of investors and financial markets.
"We are committed to adopting the standards issued by the International Sustainability Standards Board to make more informed and sustainability-focused investment decisions," he said.
The move by Banorte, the largest Mexican financial institution, comes as investors with global investment portfolios increasingly are seeking high quality, transparent, reliable and comparable reporting by companies on climate and other environmental, social and governance (ESG) matters.
The ISSB helps meet that demand, with a comprehensive global baseline of sustainability-related disclosure standards that provide investors and other capital market participants details about companies' sustainability-related risks and opportunities.
The Banorte subsidiaries, among the country's leading investment fund operators, now will have access to standardized, quantifiable and comparable information on the ESG performance of the companies in which they invest. That can increase the scope of responsible investments and strengthen the investment process for the benefit of each client.
Banorte also offers a string of sustainable consumer-centric financing products, including its recently launched Green Auto Loan, an exclusive loan to purchase hybrid and electric vehicles. It previously endorsed the Principles of Responsible Banking and the UN Net Zero Banking Alliance to promote sustainable consumption practices among its customers.
About Grupo Financiero Banorte
Grupo Financiero Banorte (GFNorte) is the largest Mexican financial institution. It offers financial services to individuals and companies through its businesses: banking, brokerage, fund operator, insurer, pension, leasing and factoring, warehouse, portfolio manager and the remittance company Uniteller. GFNorte also includes Afore XXI Banorte, the country's largest retirement savings fund in terms of asset management. GFNorte is a public company listed on the main indicator of the Mexican Stock Exchange and has more than 30,000 employees, 1,100 branches and 9,600 ATMs.
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Francisco Rodríguez Daniel
Executive Director of Corporate Communication
SOURCE Grupo Financiero Banorte
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