Environmental protection is a fundamental part of GFNorte. We ensure that management in all group processes is consistent with best practices and in compliance with applicable national and international regulations on environmental matters.

Banorte’s Social and Environmental Risk Management System (SEMS), is a mechanism to analyze risks and environmental and social impacts, with the objective of promoting projects for which we provide funding and consultancy, ensuring that they are carried out in a socially responsible manner, applying rigorous environmental practices and have the lowest possible impacts.

The SEMS adheres to a process of identification, allocation, evaluation and management of risks and social and environmental impacts based on the national legal framework, IFC’s performance standards, the World Bank’s guidelines on the environment, health and safety and the Equator Principles. The SEMS considers transactions greater than $1 million US dollars of the corporate, business banking, structured finance and Government loan portfolios.

In 2016, concerned about how the banks that financed controversial projects were affected, we incorporated the reputational risk variable into our social and environmental risk analysis process. This way, we developed an algorithm that considers the level of socio-environmental risk of projects and how communities, governmental authorities and non-governmental organizations perceive them as well as media exposure. Thus we monitor the reputational risk of large infrastructure projects on a monthly basis, to prevent risks to the institution.

In 2016 we also started defining policies for sensitive areas and sectors, with the aim of establishing specific frameworks to prevent financing and investment activities that generate risks and adverse environmental and social impacts in sensitive areas. We were able to close the year with 8 sectoral policies (sensitive areas, electric power, oil and gas, mining, agriculture, fishing, forestry and chemical substances) and the corresponding revision by Banorte’s specialized areas. Policies are currently under observation by experts on various issues, for their later approval 2017.

We also improved training of GFNorte analysts, executives and directors. Online, through the updating of e-learning with more examples, exercises and case studies, as well as with more than 3,900 phone calls a year. Likewise, to maintain awareness and strengthen knowledge on the management of social and environmental risks, we improved our newsletter with high environmental risk cases, reorienting the “Know that?” section with issues related to the operation and fundamentals of the SEMS. The “SEMS in brief” newsletter is published monthly and reaches more than 1,800 bank employees.

We are convinced that our Social and Environmental Risk Management System is essential in our consolidation as a sustainable bank. 2016 was a year in which we defined objectives, however, 2017 will present even greater challenges with the system’s expansion to other areas of the bank, formalizing priority processes and the development of tools to increase effectiveness and efficiency of social and environmental risk management in Banorte.

The following table shows an overview of the figures reported by the operation of SEMS:


13 due diligences were prepared and 233 recommendations were sent based on IFC sectoral guidelines for health, safety and the environment, promoting improvement of the social and environmental performance of loans. Of the total loans assessed by the area of socio-environmental risk, 60.22% was authorized.


The Equator Principles, created in 2003 by the Equator Principles Financial Institutions (EPFIS) together with the IFC, represent the most important standard within the financial sector to manage environmental and social impacts and risks.

Banorte was the second Mexican bank to sign these principles and as part of the Social and Environmental Risk Management System, since 2012 we analyze large investment projects and provide specialized consultancy to customers, thereby providing added value and contributing to minimizing social and environmental risks and generated financial risk in projects.


In 2016, we analyzed a total of 35 projects classified as high risk (A) 5, 6 in medium risk (B) and 24 at risk under (C) using the Equator Principles and the Mexican legal framework in force. Performance of high and medium risk projects were assessed through due diligences (11 due diligences) and continue to be monitored.


Jorge Ruiz Cortazar

Executive Director
Material Resources

We are aware of natural capital’s importance as a source of resources for our operations.

Jorge Ruiz Cortazar

Executive Director
Material Resources

(SRS 103-3)

At Grupo Financiero Banorte, we are aware of the importance of natural capital as a source of resources for our operations, so we continually promote their responsible use and mitigate potential environmental impacts through projects and efficiency strategies.


Grupo Financiero Banorte has a public environmental policy, restructured to align with the international ISO 14000 standard, and meet all its long-term requirements by addressing the following aspects:

  • Environmental risk and impact management
  • Monitoring the carbon footprint
  • Waste management
  • Environmental criteria in procurement processes
  • Collaboration with stakeholders
  • Promotion and adoption of eco-efficient practices
  • Commitment to national and international initiatives

To support the policy, GFNorte has a Matrix for the identification, evaluation and classification of environmental impacts to determine which business processes represent relevant actual and potential risks in environmental matters, which are classified according to scale, relevance, scope, frequency and reversibility; and which are reviewed annually.

Energy (SRS 302-1, SRS 302-3, SRS 302-4, SRS 305-5)

In 2016 we continued to monitor energy consumption of the Group, we followed up on efficiency projects and promoted the development of actions with operational and environmental benefits.

Energy applications include gasoline consumption of utilitarian cars of the Insurance and Annuities companies: 1.08 million liters, 56% of the total gasoline consumption of the group. Similarly Afore XXI Banorte and Banorte used 39% of the total fuel consumption, in both subsidiaries we continue to use a fuel monitoring system which has achieved a 2% decrease in use in the Afore XXI Banorte.

The Integral Energy Control System (SICE), one of our major programs for the efficient use of electricity, is now used in all Banorte branches. Since it was launched in 2007 and to the close of 2016, this system had coverage of more than 95% of Banorte branches, achieving a cumulative savings of more than Ps 150 million and a savings of 102 million kWh; avoiding 47,073 tons of CO2 emitted into the atmosphere.

The progress of this program brings us closer to our goal of a 30% reduction in emission intensity per employee by 2020, in alignment with the strategy implemented on a national level.


Since 2016, these benefits are extended to new branches, built with the SICE engineering for the automation of lighting and air conditioners, as well as the use of energy-efficient equipment.

Considering the risks associated with climate change, as from 2015 we have an initiative to install hurricane shutters and provide maintenance of air conditioning in Banorte branches in coastal areas, to prevent premature deterioration due to moisture. At the close of 2016 more than Ps $800,000 were invested in 8 Banorte branches, adding 15 more branches since its implementation in 2015.

In 2016 mobile Banorte units were implemented, equipped with ATMs and customer service areas for the purchase of products and services. These units started operating in 11 municipalities in the states of San Luis Potosí and Puebla and present opportunities in the event of climate change, considering that these could reach communities affected by natural phenomena, in addition, they reduce our Scope 3 emissions. With regard to corporate buildings, Banorte began the relocation of it 6% of its Banking Sector personnel in Monterrey, N.L., to the KOI building which is LEED silver certified for its energy efficiency. This change involves a reduction in the number of Banorte administrative buildings in the northern territory and considerable energy savings, likewise, the centralization of personnel an improvement represents for the institution for the execution of certain environmental initiatives such as reducing the need to travel, and those related to the recovery and recycling of toner and paper.

We are aware of the transition to the use of cleaner fuels and technologies raised in Mexico for the year 2018 by the national program for the sustainable use of energy. For this reason, since 2016 we have been evaluating a portfolio of suppliers of renewable energy with a view to its subsequent acquisition and our alignment to national objectives in the field of energy.


In 2016, we participated in the Earth Hour initiative, organized by the World Wildlife Fund, by turning off non-essential lighting in 7 Banorte buildings, 8 Insurance and Annuities halls, and for the first time in 3 Afore XXI Banorte representative offices. In addition, we encouraged the efficient use of energy and employees participation in Earth Hour through the Banorte and Long Term Savings’ internal communication channels.


  1. Monterrey Torre Sur (South Tower)
  2. Tijuana Heroes
  3. Chihuahua Quintas del Sol
  4. Culiacan Matrix
  5. Guadalajara La Paz
  6. Mexico City Santa Fe
  7. Mexico City Mariano Escobedo


  1. Monterrey Plaza Hidalgo
  2. Monterrey Padre Mier
  3. Monterrey Valuation Center
  4. Mexico City Chicontepec
  5. Mexico City Ceylan
  6. Mexico City Mazaryk
  7. Guadalajara Americas
  8. Guadalajara Washington


  1. Mexico City San Francisco Office
  2. Mexico City Annex 489
  3. Mexico City Annex 505


In 2016, 757 ATMs were replaced by more energy-efficient models, 5% more than in the previous year. This figure is equivalent to 10% of the total number of automatic teller machines at the close of the year. We also implemented technologies and functionalities in the ATMs that include remote selling and self-service services to reduce the need for clients to go to a branch, thus speeding up operations and reducing emissions generated by customer travel. Some of the new features are: sale and cancellation of insurance, contracting and renewal of loans and campaigns to collect data from customers, among others.


Estimated water consumption for 2016 was 668,673 m3, representing an increase of 0.09% from 2015 considering the scope of 99% of the financial group. The water consumed on the premises of the group comes from and is channeled to local networks where we operate.


At GFNorte, we calculate our carbon footprint through a focus of financial control that uses methodologies as the corporate standard accounting and reporting (ECCR) – the Greenhouse Gas Protocol (GHG Protocol) and national guidelines on the use of the potential global warming ingredients, the IPCC’s Fifth Assessment Report (AR5). Our data are backed up every year, since 2012, through verification by an external firm accredited by EMA (Mexican Accreditation Entity).

[tons de CO2e]



With regard to the objective of reducing emissions resulting from our operations, in 2016 we adhered to the Science based targets initiative for the establishment of medium and long-term reduction targets based on international scientific standards. The signing of a commitment gives us a period of 24 months to establish objectives based on certified methodologies, whose progress will be annually reported to CDP and publicly available.


In 2016 we held 88,650 videoconferences at GFNorte, representing an increase of 139% from 2015. Specifically, in Banorte the increase represents a 149% growth. In addition, an estimated 127,871 kilometers of travel was saved through videoconferences held in leasing and factoring and Banorte Ixe Securities International, which is a savings of more than Ps1.5 million considering the average cost per trip in 2016. In Banorte more than 20 million pesos were invested for the renovation and maintenance of videoconferencing rooms, 103% more than in 2015.

CORPORATE TRAVEL (SRS 305-3,305-4, 305-5)

Kilometers travelled aboard airlines were calculated for employee of Banorte subsidiaries, Afore XXI Banorte, Leasing and Factoring, Banorte- Ixe Securities International and, for the first time, Insurance and Annuities companies, business units that are responsible for 98% of the financial group’s employees, 7% higher than in 2015.

In Banorte, we continue to use the tool included in the SAP module for calculations. In 2016 more than 16.7 million kilometers were registered, 46% more than the previous year, which amounted to 11.5 million kilometers, equivalent to 1,619 tons of CO2 emitted into the atmosphere. To offset this impact, we encourage videoconferencing as well as digital collaboration between employees through the use of web tools for online meetings. To this end, since 2015 employees with laptops have UC Voice equipment available to them, also the Webex service in the sales area of Afore XXI Banorte was activated.

With respect to the employee travel, the “Employee Travel” survey was carried out in 2015 more than 2,000 employees of the Call Center building in Monterrey, N.L., which estimated a total of 80.32 tons of CO2 emissions due to the use of motorized transport.


With regard to Scope 3 emissions, as from 2015 emissions corresponding to recharging refrigerant in Banorte installations are accounted for, with a 75% scope with respect to the total number of employees of the financial group. Refrigerants recharged in 2016 were 851 kg of R-22 gas and 695 kg of organic gas R-410A, which involved the generation of 2,835 ton CO2e. Currently top-ups of R-410a refrigerant, which does not contribute to the reduction of the ozone layer and does not contain CFCs, is 45% of the total number of refills in Banorte, while top-ups of R-22 were reduced by 43%. In addition, in 2015 Banorte stopped purchasing equipment using R22.




The financial group’s paper consumption increased by 2% versus 2015, totaling 1,230 tons. In contrast, based on net profits, paper consumption has decreased by more than 9%, reflecting the results of operational strategies implemented in 2015 and 2016, which encourage the use of digital media and cross-selling.

These strategies include Origina, which has been implemented in customer service centers and promotes the efficient use of paper through multiple contracts and eliminating the file records at branches. In addition, in Savings and Provision Sector, as well as US Sector, reductions in paper consumption per employee of 6% and 7% respectively, were achieved.

With regard to the consumption of toner, in 2016 we recycled 7% of toner purchased in 2015, which implies the recovery of 3.1 tons of components such as plastic, toner, cardboard, aluminum and other metals. In addition, by the end of the year we recycled 1.289 toners, equivalent to 8% of toner purchased in 2016. Finally, in 2016 we worked on the strategy for the recovery and recycling a minimum of 12% of the total toners to be requested in 2017.


Among Banorte initiatives to promote efficient paper use, we continue with the application of our Paperless online course in the induction package for new employees. In 2016, 605 employees (+41% vs 2015) were trained in responsible paper consumption in work activities. In addition, 129 employees with seniority were accredited for the course.

One of the main areas of opportunity is to promote responsible document printing. Since 2015, the Papercut tool is used in corporate buildings; this tool manages paper and toner via printing controls directly from the multifunctional. At end of 2016, the consumption of 0.35 tons of paper (+ 25% YoY) was prevented.

Within the Insurance’s operations, we continued to use the “Mobile adjuster” application, which allows the electronic management of accidents thereby increasing operational efficiency. Through this application, insurance adjusters gather the accident information in digital documents, which are shared with the insured and the providers responsible for follow-up. At the end, documents are downloaded to the Insurance central system, allowing future reference and completely avoiding the use of paper. In 2016, after use at the national level, 9 tons of paper was saved, surpassing the goal established in the developmental stage in 2015.


During 2016, 55,171 physical tokens were migrated to cell phones and 283,534 new cellular tokens were contracted, thus reaching a total of 338,705 users of this modality in 2016.

The campaign to reuse and recycle clients’ tokens continued in 2016, collecting 29,374 physical tokens. Of these, 8,682 devices were reintroduced into banking operations and 20,692 were sent to a warehouse for recycling and recovery of components in 2017, also 5,090 tokens available in the warehouse at the end of 2015 were recycled in 2016. The reduction in the recovery of physical tokens is related to the increase in clients’ adoption of the mobile token.

On the other hand, as from November 2016, our Paperless service is automatically provided to all credit card customers with online banking services with token (cell or physical) to check their online bank statement, eliminating the need to print and mail statements thus saving energy and paper.


In 2016 we expanded the sampling scope for the estimation of waste generated in Banorte administrative buildings and branches, including the Preferential, Dual, Preferential Dual, and Module customer service centers implemented in 2015. The estimated waste generated this year versus 2015 was a 24% reduction in tons generated per employee. Also, the global estimate indicates a generation of 2,394 tons on a Banorte level.

Banorte continues its efforts to reduce the amount of solid waste being sent to landfills. Therefore, in 2016 we began a recycling program in the “Roberto González Barrera” Call Center in Monterrey, Nuevo León, which has recovered an estimated 30% of the monthly PET waste in the building. Separation of waste was also encouraged through an awareness campaign for the more than 2,500 employees in the building.


In 2016 we recycled more than 479 tons of paper from the program implemented in corporate buildings and dead files, which represents an economic return of more than 1 million pesos. The recycling program benefits more than 5,800 employees in 13 administrative buildings, i.e. 28% of banking sector personnel. Additionally, the Insurance and Annuities companies recycled 22.57 tons of cardboard and white paper, 7% more than in 2015, in the same way, INB recycled 97.67 tons of paper in 2016 and Afore XXI Banorte joined the initiative recycling 1.59 tons of paper.

We also continued with source separation and recycling of urban solid waste in the Torre Mayor offices. In 2016, we recycled more than 18 tons of waste, 150% more than in the previous year. The economic savings, after operating expenses, was earmarked for the non-profit World Green Brigade to support social causes such as the delivery of computer equipment to local elementary schools.


The implementation of the SAP ARIBA platform for the management of the financial group’s suppliers of goods and services was launched in 2016. This tool is used for an evaluation methodology of the environmental risk associated with our supply chain in alignment with the second edition of the practical guide to Supply Chain Sustainability of the United Nations Global Compact, which includes diagnosis, planning, monitoring and decision-making. Registering providers in the platform began in 4Q16 and included a questionnaire for new providers with a permanent contract. For 2018 we expect, with the information gathered, to carry out the diagnostic phase using a matrix to classify suppliers considering the possible socio-environmental risks of each sector, company or area of action.

As part of the portfolio of sustainable suppliers, since 2014 we have been collaborating with a solar company that provides benefits to our employees. During the year, Banorte employees who use solar panels in their homes contribute to preventing emitting 3,359 kg of CO2 into the atmosphere, at the same time, these solar panels generate 7,334 kWh of energy.


The SMS (Sustainability Management System) platform continued in operation for the collection, validation and analysis of environmental performance indicators of the financial group. In 2016 trained users captured 254 data related to environmental indicators.

In addition the range was increased in the monitoring through the inclusion of indicators for measuring Scope 3 emissions from the use of office materials, commercial printing, and other items; and the inclusion of key social indicators for the group. This platform was also used as a basis for the data management of this report.


The total cost to treat and mitigate emissions in 2016 amounted to Ps 20.19 million for the construction, renovation and maintenance of videoconferencing rooms to reduce emissions generated by corporate travel.

In addition, the total investment for prevention and environmental management was Ps 3.51 million, which includes the purchase of plants and materials for the green roof, maintenance and development of the educational program in 2016. This sum also considers investing in the SMS platform for the management of sustainability indicators and verification of the greenhouse gas emission inventory.

An investment of Ps 11.91 million was made to renew air conditioning equipment and install hurricane shutters in coastal areas.


The green roof of the “Roberto González Barrera” Call Center in Monterrey, N.L. completed its third year of operation promoting the conservation of Mexican species.

In 2016, 2,192 people went through the environmental education program implemented in June 2014, 44% more than in 2015. The educational program’s scope, through an agreement with the Ministry of Public Education (SEP) offered primary school children the opportunity to participate in various workshops which has resulted in the green roof being the only one endorsed by the SEP for school visits.

Globally, the green roof’s educational program has benefited 4,874 people of our various stakeholders, particularly administrative personnel and newly hired executives, relatives of employees, suppliers, primary school and higher institutions, and non-governmental entities.

The educational program includes conferences, craft workshops, tours and activities for reflection that aims to educate our stakeholders on sustainability. In 2016 this program was awarded the Honorable Mention for Ecological Merit by the municipality of Monterrey, Nuevo Leon.


Banorte continued its Alliance with the MexiCO2 platform for the contribution of Ps 1 million to Profauna Mexico to finance the protection of black bears in the Sierra Zapaliname, in Coahuila. This donation will take place over 4 years from 2015, through the trust’s help, in which funds donated by employees will be doubled by the Banorte Foundation.

The Profauna project raises awareness about the importance of the species to the public, the prevention and mitigation of possible damage, allowing the coexistence of productive activities carried out by the habitants and the black bear.


During 2016 a culture of organizational change among employees of the Banking Sector and Long Terms Savings was encouraged to promote the implementation of sustainable practices by sending 16 internal postcards for “Taking care of my Planet” and “Meatless Monday” campaigns. Employees were also encouraged to use digital banking through 35 communiqués highlighting the benefits of BxI, mobile Token, Banorte mobile and mobile payment.

In addition, we continued to receive suggestions and initiatives through various channels of communication. In 2016, 340 comments on activities related to sustainability were discussed.


Gei Mexico

For fourth consecutive year we participated in the GEI Mexico program of the Ministry of Environment and Natural Resources (SEMARNAT). GFNorte was the first private financial institution to obtain GEI2 recognition, which supports our strategy of evaluating, accounting and reporting GHG emissions from the company, as well as implementing the emission mitigation program.

In order to comply with new environmental legislation in the field of emissions, in 2016 GFNorte recorded figures for 2015 in the Annual Operational Card, adhering to guidelines established by the National Regulation of Emissions (RENE).


  • GFNorte was recognized as a member of the STOXX Global Climate Change Leaders Index, making it in the only Latin American issuer to be considered in the index. The STOXX Global Climate Change Leaders Index is composed of a select group of 105 companies that stand out globally for their incorporation of risk analysis due to climate change in their daily operations.
  • GFNorte joined the Euronext Vigeo Emerging Markets 70 Index, which recognizes 70 companies in emerging countries with the most advanced sustainability practices. GFNorte is the only Mexican financial group and one of three Latin American companies to be included.
  • GFNorte joined the FTSE4Good Emerging Sustainability Index, being the only Mexican financial institution included in the top 10 Latin American companies of the stock exchange indicator in London, which evaluates actions on issues of climate change, labor standards, and risk management, among others.
  • Grupo Financiero Banorte was distinguished by the international organization CDP as one of the three leading companies in the “CDP Climate Change Program of Latin America”, obtaining the A- qualification in the 2016 CDP Climate Change questionnaire, proving its management strategy in the face of climate change in their operations.
  • GFNorte is a signatory of the Business and Biodiversity Pledge, promoted by the Ministry of the Convention on Biological Diversity and the Government of Mexico. This signature reaffirms the financial group’s commitment in promoting the importance of biodiversity and ecosystem services and establishing positive actions in our operations.