(Energy Analytics Institute, 11.Dec.2024) — Mexico’s Grupo Financiero Banorte (GFNorte) plans to drive the growth of one million trees in Mexico between 2025-2030, contributing to the Trillion Trees (1t.org) movement, initiated by the World Economic Forum (WEF).
In joining the movement, GFBanorte becomes the first Mexican institution to make such a commitment, reaffirming its responsibility for the health of our planet and future generations, the financial insitution said 11 Dec. 2024 in an official statement.
In this initiative, GFBanorte will collaborate with Reforestamos México, as well as other organizations in the country, to coordinate efforts for tree growth and to engage with local stakeholders, including indigenous peoples and local communities.
Forests are essential in the fight against climate change since they regulate global temperatures, support freshwater systems, recharge groundwater, anchor fertile soils, and provide habitats for countless species, GFBanorte said. This commitment is part of GFBanorte’s broader sustainability strategy, which includes being the first adopter in Mexico of the Taskforce on Nature-related Financial Disclosures (TNFD) framework to identify impacts, dependencies, risks, and opportunities related to nature.
As part of its commitment, GFBanorte “will promote, through the partners involved, a series of enabling activities that include developing nurseries and seedlings, education and training, community mobilization, youth engagement, and the use of technology and data management tools to monitor the progress of these actions.”
According to the World Economic Forum (WEF), over half of the global gross domestic product (GDP)—approximately $44tn—largely depends on nature, making the ongoing loss of natural capital and ecosystems a pressing environmental, social, and economic threat.
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