Materiality

In 2022, we undertook a materiality assessment - in accordance with the Group’s methodology – to unify our material topics. As a result, we were able to identify real, potential, positive and negative economic, social, environmental, ethical, and human rights issues and impacts both inside and outside the Bank and for our stakeholders.

Analysis inputs

Global and sector-based

ESG Reporting Standards: Global Reporting Initiative, Sustainability Accounting Standards Board, Carbon Disclosure Project, Task Force on Climate-Related Financial Disclosures.
Regulation: National Baking and Stock Commission, Financial System Stability Council, Association of Banks of Mexico, International Monetary Fund, Environmental EU Taxonomy.
Other Initiatives and trend setters: Larry Fink Letter, Green Finance Advisory Council, International Financial Reporting Standards Foundation (IFRS).

Our materiality assessment identified 15 priority issues based on their importance (real and potential impacts) inside and outside the Bank. These material topics served as the basis for drafting the 2022 Responsible Banking Report and guiding our strategy that focuses on these areas.

List of Material Topics:

1. Sustainable Financing and ESG Product Design

2. Environmental Footprint

3. Education and Community Support

4. Customer Experience and Satisfaction

5. Operational and Business Resilience

6. Privacy, Data Protection and Cybersecurity

7. Corporate Governance

8. Portfolio Alignment to Achieve Net Zero by 2050

9. Culture, Transparency and Business Ethics

10. Financial Inclusion and Empowerment

11. Responsible Procurement

12. Occupational Safety and wellbeing

13. Human Rights, Diversity and Inclusion

14. Talent Management and Development

15. Integration of ESG Criteria into Risk Management

There were changes made to the material topics contained in the 2021 Responsible Banking Report. The topic of Digitalization is no longer deemed to be specific, which is why it was included in Customer Experience and Satisfaction, while Support for Entrepreneurship was incorporated into Financial Inclusion and Empowerment.

This year, two new material topics were created - Portfolio Alignment to Achieve Net Zero by 2050 and Operational and Business Resilience – which are issues that require priority attention as part of the Bank’s strategy.

According to the Global strategy, we have identified four areas where we can have a major impact, as a Group, due to the risk and opportunities they bring. Likewise, the materiality assessment and our Responsible Banking agenda allow us to focus our efforts on reducing or offsetting negative impacts and maximizing positive impacts.

For further information, you can consult page 24 of the Annual Inform, please click here.