Carlos Hank González, Chairman of the Board of Directors of Banorte, stressed that the financial sector plays a key role in the fight against climate change, for which he called on the latter to take more forceful action on the matter.
Facing the COP26, main meeting of the United Nations (UN) on global warming that will take place later this month in Glasgow, Scotland, the Mexican banker participated in the virtual forum “Global Leaders for Climate Action” of the International Chamber of Commerce (ICC).
Hank González was the only Mexican representative in the forum, organized with the purpose of setting the priorities of the private sector for the climate action facing the negotiations of the COP26.
Leaders from the business and political sectors also participated, such as the executives of BP, IKEA, Nestle, P&G and other companies. ICC wants to mobilize companies to achieve a common goal: prevent global temperature from rising 1.5 degrees Celsius, as well as achieve zero net emissions by 2050.
Jobs must be sped up
“We face a crucial moment in the fight against climate change, including the management of the social and biodiversity elements of the crisis. Our work must be accelerated and addressed as a multi-thematic and sustainable development agenda ”, said Carlos Hank González.
He stressed that the climate change it is a serious threat to humanity, so the only solution is collective action.
“The time for debate is over; the fight against him climate change It can’t wait, ”he added.
The president of Banorte considered that the financial sector You should seize this opportunity and work to shift the flow of capital toward nature-positive and sustainable activities through research tools and data.
He added that companies should be encouraged to adopt comprehensive sustainability goals and programs, in the same way that they prioritize technology upgrade.
He commented that innovation is key to the transition to a greener economy, especially through the integration and management of social, climatic and environmental risks in the center of the business.
“Financial institutions must identify and assess sectors whose operations, products and services, as well as their supply chains, are not aligned with the sustainable development“, said.
He added: “banks should promote financing to those companies that are part of the low carbon economy”.
Banorte initiatives
As examples, Carlos Hank cited various initiatives and priorities of Banorte, including his sustainable investment fund NTEESGas well as his Socio-environmental Risk Management System, which assesses risks and possible impacts on the environment and communities, before financing projects.
Banorte participates in the Net Zero Banking Alliance and in the Principles of Responsible Banking as a founding signatory. It has also joined the Taskforce on Nature-related Financial Disclosures, an initiative to help the financial sector and other industries carefully evaluate opportunities and risks related to nature.
“Banorte has placed sustainability at the heart of its operations. It is part of our DNA and we are proud to contribute to the sustainable recovery and help others move towards positive outcomes for nature in the global financial flow, ”he commented.
Within the framework of the next COP26, whose objective is for countries to advance towards the goals of the Paris Agreement and the UN Framework Convention upon Climate change, said that this meeting should mobilize “the actors of the global economy to protect our planet against climate change and prioritize nature on the road to decarbonization.”
rrg
Reference-www.eleconomista.com.mx