Afore XXI Banorte Sets 42% GHG Cut Target Ahead of COP30

Ahead of the COP30 climate summit, to be held from November 10 to 21 in Belem, Brazil, Afore XXI Banorte announced new sustainability targets, including a 42% reduction in absolute greenhouse gas (GHG) emissions and a commitment to align its investment portfolio with a 1.5°C global warming limit, in  line with international climate goals.

The Mexican pension fund reaffirmed its position as a leading institutional investor in sustainability across Latin America. Its investment strategy seeks to combine profitability with positive environmental and social impact, channeling resources into sustainable infrastructure, clean energy, transportation, and healthcare projects. According to the company, these investments contribute to national economic growth, job creation, and improved quality of life.

“Our commitment to sustainability and responsible investment is a core part of our mission,” said David Razú Aznar, CEO, Afore XXI Banorte. “We strive to ensure that every peso invested not only generates returns but also drives progress and supports responsible projects that contribute to Mexico’s well-being and that of future generations.”

The firm’s investment approach is guided by ESG principles and aligned with the United Nations Principles for Responsible Investment (UNPRI). Oversight is provided by CONSAR, Mexico’s National Commission of the Retirement Savings System.