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Banco Mercantil del Norte (Banorte)Mexico

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Last update: 2024-10-04 14:15:56
Branch of Banorte in Monterrey District. Photo: Distrito Medico Monterrey via Flickr (CC BY 2.0)

Active

This profile is actively maintained
Last update: 2024-10-04 14:15:56
Bank info
BankTrack campaigns
All
About
Website http://www.banorte.com
Headquarters
Avenue Revolucion 3000
NL 64830 Monterrey
Mexico
CEO/chair Jose Marcos Ramirez Miguel
CEO
Supervisor
Comision Nacional Bancaria y de Valores
Ownership
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.

Banco Mercantil del Norte (Banorte), 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.

Sustainability
Commitments
Policies
Voluntary standards

Banorte's most important sustainability commitments can be found at the website sections listed below.

Links

Sustainability

Policies & Documents

Exclusion list

Bank policy
2022-06-24 00:00:00 | Banorte

Responsible investment policy

Bank policy
2021-12-30 00:00:00 | Banorte

Human rights policy

Bank policy
2021-03-31 00:00:00 | Banorte

Natural capital policy

Bank policy
2020-07-25 00:00:00 | Banorte

Socio-environmental risk policy

Bank policy
2020-07-25 00:00:00 | Banorte

Social policy

Bank policy
2016-04-02 00:00:00 | Banorte
Banco Mercantil del Norte (Banorte) has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
Natural Capital DeclarationTags: sustainable development | finance | natural resources | corporate social responsibility
Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Principles for Responsible Investment (PRI)Tags: corporate social responsibility | sustainable development | United Nations
Science Based TargetsTags: climate change | corporate social responsibility
UNEP Finance InitiativeTags: United Nations | sustainable development
United Nations Global CompactTags: United Nations | human rights
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

The NZBA has chosen the wrong side of history: what next for net-zero banking?

The UN-convened, bank-led coalition was never up to its task. It’s time for banks to demonstrate individual commitment.
2025-05-28 | Quentin Aubineau – BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Do NZBA exits mark the end of bank co-ordination on climate?

It is make or break for the industry-led, UN-convened Net-Zero Banking Alliance
BankTrack mentioned
2025-01-10 | The Banker
Blog
BankTrack news BankTrack blog Partner news Partner blog

New Net-Zero Banking Alliance report shows no progress towards reaching net zero

In its latest so-called “progress” report, the NZBA leaves substantial information regarding net-zero alignment out and only focuses on target-related outputs.
2024-10-08 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New benchmark from BankTrack shows Latin American banks falling short on human rights

All 17 Latin American banks assessed are meeting fewer than half of their responsibilities under the UN Guiding Principles
2024-03-12 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

The NZBA’s 2023 Progress Update shows some member banks’ targets are not consistent with their commitments

2023-12-13 | Nijmegen | Quentin Aubineau – BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Policy analysis report: Moving away from mass destruction

2023-07-27 | ICAN, PAX
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks called upon to take action to protect biodiversity ahead of UN Biodiversity Conference in Kunming

Civil society organizations urge banks to adopt stringent “No Go” policy for biodiversity rich areas
2021-05-26 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New bank climate initiative fails to grasp urgent need to end finance for fossil fuels

Civil society statement on the launch of the Net-Zero Banking Alliance
2021-04-22 | Nijmegen | BankTrack, urgewald, Amazon Watch, Bank on our Future, Indigenous Environmental Network, Market Forces, Positive Money, Rainforest Action Network, Reclaim Finance, ShareAction, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

Leading finance firms sign up to Mark Carney forum on low-carbon investment

2021-04-21 | The Guardian
Blog
BankTrack news BankTrack blog Partner news Partner blog

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles: New BankTrack database sheds light on patchy project name reporting

BankTrack publishes database of Equator-financed projects, together with analysis showing some banks report few or no project names – notable poor performers include ING, HSBC and Lloyds
2020-06-29 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Principles must bring commitments

Banks endorsing draft Principles for Responsible Banking called upon to urgently act on what they sign
2018-11-26 | Paris | BankTrack
Resources
Documents

NZBA 2024 Progress Report

Other document
2024-10-01 00:00:00 | NZBA

Integrated Annual Report 2023

Annual report
2024-03-14 00:00:00 | Banorte

TCFD Report 2023

Other bank document
2024-03-11 00:00:00 | Banorte

Annual report 2022

Annual report
2023-06-19 00:00:00 | Banorte

Annual report 2021

Annual report
2022-07-13 00:00:00 | Banorte

Exclusion list

Bank policy
2022-06-24 00:00:00 | Banorte

Responsible investment policy

Bank policy
2021-12-30 00:00:00 | Banorte

Guidance on Biodiversity Target Setting for PRB signatories

Other document
2021-06-24 00:00:00 | UNEPFI

Commitment statement Net Zero Banking Alliance

Other document
2021-04-21 00:00:00 | UNEP FI Principles for Responsible Banking

Human rights policy

Bank policy
2021-03-31 00:00:00 | Banorte

Annual integrated report 2019

Annual report
2020-10-26 00:00:00 | Banorte

Natural capital policy

Bank policy
2020-07-25 00:00:00 | Banorte

Socio-environmental risk policy

Bank policy
2020-07-25 00:00:00 | Banorte

Equator Principles report 2018

Other bank document
2019-10-29 00:00:00 | Banorte

Letter from Banorte to BankTrack on PRB implementation

Correspondence
2019-09-13 00:00:00 | Banorte

Annual integrated report 2018

Annual report
2019-07-31 00:00:00 | Grupo Financiero Banorte

Annual report 2017

Annual report
2018-03-31 00:00:00 | Grupo Financiero Banorte

Annual report 2016

Annual report
2017-03-31 00:00:00 | Grupo Financiero Banorte

Social policy

Bank policy
2016-04-02 00:00:00 | Banorte

Annual report 2015

Annual report
2016-03-31 00:00:00 | Grupo Financiero Banorte
Accountability
Grievances

Banorte operates a complaints mechanism via EthicsPoints which can be accessed here.

Banorte is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.

This page evaluates Banco Mercantil del Norte (Banorte)'s responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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Banks and Human Rights

Banks and Human Rights

 BankTrack assessed Banorte in its 2024 Human Rights Benchmark Latin America, part of the series of  BankTrack's Regional Benchmarks, where it achieved 4 points out of 14 and was ranked as a follower.

The BankTrack Human Rights Benchmark Latin America

Human Rights Benchmark Latin America 2024

BankLast update
Country
Score
Ranking
Details
Banco Mercantil del Norte (Banorte)
MEX
4
Follower 4
Explanation
Laggard
Follower
Moderate achiever
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.
Tracking the NZBA

Tracking the Net Zero Banking Alliance

Banco Mercantil del Norte (Banorte) is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.

 

Tracking NZBA banks commitments
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