Sustainability at Banorte: A Comprehensive CSR Strategy

Abstract

As financial institutions approach sustainability in new ways, this report, prepared as a master's project for the School of Natural Resources and Environment, represents an innovative comprehensive corporate social responsibility strategy for the 3rd largest bank in Mexico, Grupo Financiero Banorte (Banorte). Through an extensive review of CSR literature, a compilation of best practices, and incorporation of organizational and decision-making frameworks most relevant to CSR, the report provides an overview of the year-long collaboration between Banorte and University of Michigan students from the Erb Institute for Global Sustainable Enterprise. This collaboration yielded key current and future short and long-term steps that will allow the bank to better integrate CSR (environmental, social and financial performance) into its core business strategy. In addition, the report includes two representative case studies of CSR initiatives: Small and Medium Enterprise education and Paper Reduction. Each of these studies provides key learnings and insights applicable for continued progress in creating an innovative corporate social responsibility strategy over the next three years and beyond.