- The AFORE reaffirms its commitment to the construction of a more sustainable financial system, and calls for companies, investors and authorities to accelerate the transition to a low carbon economy.
XXI Banorte became the first administrator of retirement funds to obtain the validation of its objectives to reduce greenhouse gas emissions (GHG) by Science Based Targets Initiative (SBTI). This commitment – aligned to the overall goal of the Paris Agreement – reflects the AFORE strategy to contribute to the transition to a low carbon economy, while offering sustainability and high yields for its customers.
These objectives contemplate two axes of action. With regard to its operations, the AFORE promised to reduce the absolute GHG emissions by 2030 by 42 %, based on the year 2023. In investment matters, the goal is that the temperature of the assets of the administrator portfolio – which includes shares, corporate bonds, funds and fibers – falls from 2.34 ° C to 1.99 ° C, and from 2.64 ° C to 2.27 ° C, according to its type.
With this milestone, XXI Banorte strengthens its leadership in responsible investment and improves its management capacity against climatic risks. These actions are added to the systematic integration of environmental, social and governance criteria (ASG) in their investment processes, adherence to the principles of responsible investment of the UN (UNPRI) and participation in regional forums such as dialogues for the LATAM climate.
“We are convinced that each weight invested must contribute to build a safer and prosperous future for our country. Our vision is clear: generate economic and social value for each Mexican, while contributing to curb climate change and protect the heritage of millions of workers,” said David Razú Aznar, general director of Afore XXI Banorte.
Likewise, the AFORE maintains a transparency policy reporting annually the management of climatic risk under the standard of the Task Force On Climate-Related Financial Disclosures (TCFD), an international framework that promotes clear communication on risks and opportunities related to climate.
In the face of the next United Nations Conference on Climate Change (COP30) – which will bring together leaders from all over the world to define new environmental goals -, AFORE XXI BANORTE reaffirms its commitment to the construction of a more sustainable financial system, making a call to companies, investors and authorities to implement measurable actions that accelerate the transition to a low -carbon economy that offers business opportunities and investment global.
