Banorte and Global Investors Call on the G20 to Uphold Paris Agreement Commitments

GFNorte, the only Mexican institution forming part of the collective of 390 global investors
Jul 13, 2017 1:55 PM ET

Over 380 Global investors (managing more than $22 Trillion in assets) urge G20 …

MEXICO CITY, July 13 2017 /3BL Media/- Grupo Financiero Banorte (GFNorte) joined the group of 390 global investors representing $ 22 trillion US dollars in assets, demanding that G20 leaders honor their Paris Agreement commitments.

Banorte is the only Mexican financial group and institution in this group, calling on the G20 to strengthen its commitment to fight climate change. 

The investors requested global leaders to:

 Continue to support and implement the Paris Agreement, as the G7 leaders did last June.

 Direct investments towards an economy with  low levels of carbon emissions.

 Implement financial reporting that explicitly considers climatic aspects.

Included among the petitions made in their letter, was a proposal that countries submit specific plans to ensure that the rise in global temperature remains well below 2°C.

In addition, it was suggested that governments should submit long-term plans for the mitigation of climate change, the use of sustainable energies and the development of nationally determined contributions (NDCs) to strengthen future efforts, which were accorded in Paris in 2015.

As a signatory of the Principles for Responsible Investment (PRI) in January of this year, GFNorte is considered among the institutions committed to the mitigation of climate change as an imperative to safeguard long-term investments of countries. With this action, Banorte reiterates its commitment to the development of a strong and sustainable Mexico.