COP26

Banorte chairman calls on finance to scale up climate ambition

1 minute read

Carlos Hank Gonzalez, Chairman of the Board of Grupo Financiero Banorte, speaks during an interview at the Reuters Latin American Investment Summit in Mexico City, Mexico, August 10, 2017. REUTERS/Ginnette Riquelme

LONDON, Oct 26 (Reuters) - The chairman of Mexican lender Grupo Financiero Banorte (GFNORTEO.MX) on Tuesday called for the international finance sector to scale up its climate ambition ahead of global talks in Scotland.

Speaking at a special International Chamber of Commerce summit aimed at setting high-level private-sector priorities before the COP26 talks begin on Sunday, Carlos Hank González said the "time for debate was over."

González said the finance sector needed to "grasp the timeliness of the issue" and do more with data and research to help shift capital to sustainable business activities.

"Financial institutions must identify the sectors and sub-industries whose operations, products and services, as well as their supply chains, are not aligned with sustainable development," he said.

"Banks also should consider improving their environmental performance through green lending initiatives that lend more to firms that are part of the low-carbon economy," he said.

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Reporting by Simon Jessop; Editing by Mark Porter

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