Banorte's Leadership in Transparency on Climate Change Related Issues is Recognized
May 27, 2015 /3BL Media/ - For the second consecutive year, Grupo Financiero Banorte (GFNorte) forms part of the Latin America Climate Disclosure Leadership Index (CDLI), a recognition that places it as a leader for the depth and quality of climate change data it has disclosed to investors and the global marketplace through CDP, the international NGO that drives sustainable economies.
According to the CDP Latin America 80 Climate Change Report 2014, out of the 42 Latin American companies that answered the 2014 CDP's Climate Change questionnaire, 8 form part of the Latin America Climate Disclosure Leadership Index (CDLI), including GFNorte, who earned the second highest score for transparency in Mexico, as well as in the Latin American financial sector with a score of 88.
Disclosure to CDP's climate change program is at the request of 767 investors who represent more than US$92 trillion in assets, which is around a third of the world's invested capital. CDP disclosure scores are provided to investors and other decision makers through various channels, including Bloomberg terminals, to help them assess corporate preparedness for changing market demands and emissions regulation.
In relation to the recognition, Mayra Hernandez, GFNorte's Executive Director of Social Responsibility said: "being part of this index supports the Group's commitment to conduct its operations towards climate change mitigation and adaptation. We are working to increasingly integrate climate change related issues into the business."
Among GFNorte's most significant actions and achievements regarding climate change reported in 2014 are: the reporting of the 100% of emissions generated by the use of electricity and fossil fuels and the 15.8% reduction in the intensity of this type of emissions per employee compared to 2009.
In the 2015 CDP report, emerging emissions from refrigerant gases will be included, thus reporting the total from Scope 1 and 2 emissions in CDP; verified relevant Scope 3 emissions will be included; and economic valuation of climate change related risks and opportunities material to the Group's operations will be disclosed.
About Grupo Financiero Banorte
Grupo Financiero Banorte is one of the leading financial institutions in Mexico. It is part of the Dow Jones Sustainability Emerging Markets Index and the Sustainable IPC Index of the Mexican Stock Exchange. Seeking to continuously improve its environmental, social and corporate governance performance, it participates in several national and international initiatives.
CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 767 institutional investors with assets of US$92 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate-change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions.