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Created on: 2017-01-31 11:30:38
Last update: 2021-10-14 00:00:00
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About Banco Mercantil del Norte (Banorte)
Banco Mercantil del Norte, established in 1899, is a Mexican banking and financial services company and a subsidiary of Grupo Financiero Banorte. It is one of the four largest commercial banks of Mexico and the largest domestically held bank. Banorte offers various banking products and services to individuals and small and medium-sized enterprises in Mexico and the United States. Banorte adopted the Equator Principles in 2012, the bank is profiled as part of our Tracking the Equator Principles campaign.
Avenue Revolucion 3000
NL 64830 Monterrey
Jose Marcos Ramirez Miguel |
|Annual report||Annual report 2020|
listed on Mexican Stock Exchange (BMV)
Banco Mercantil del Norte is a subsidiary of Grupo Financiero Banorte, of which its shareholder structure can be accessed here.
|Complaints and grievances||
Grupo Financiero Banorte operates a complaints mechanism via EthicsPoints which can be accessed here.
Tracking the Equator Principles
EPFIs reporting status
EP reporting page: https://equator-principles.com/reporting-banco-mercantil-del-norte-s-a-2019/
Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period.
Banks and Climate
Bank net zero commitments
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
New bank climate initiative fails to grasp urgent need to end finance for fossil fuels
Leading finance firms sign up to Mark Carney forum on low-carbon investment
Equator Principles: New BankTrack database sheds light on patchy project name reporting
Voluntary standardsBanco Mercantil del Norte (Banorte) has committed itself to the following voluntary standards:
Banorte's webpage on corporate social responsibility can be accessed here.