• Only Mexican financial institution ranked on Newsweek-Statista global list, coming in at No.1

Grupo Financiero Banorte Chairman Carlos Hank González has announced that the bank’s socially responsible business operations have earned it a No. 1 world ranking.

Newsweek and global data firm Statista rated 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 on the list, Banorte was recognized for its support and advances in Environment, Social and Corporate Governance (ESG) practices.

“At Banorte, sustainability is in our DNA. That’s why we put it at the center of all our operations. We will continue to maximize our ESG efforts to keep building a more inclusive and sustainable future,” said Carlos Hank González.

See related article: A Fifth of Retail Banks Plan to Significantly Increase Spending on ESG

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.

Banorte received the highest overall score of 86.80, and did well in all other categories:

• Environmental concerns, 91.40, on emissions, energy use and sustainable business activities.
• Social concerns, 77, on diversity and employees, accessibility, philanthropy and engagement.
• Corporate governance concerns, 92.80, on disclosure and transparency and economic performance.

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 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. Also, through the Banorte Foundation, it continues to showcase social involvement and commitment to the community. 

Source: Banorte