Banco Santander Sustainability Profile
Banco Santander, officially known as Banco Santander, S.A., is a leading global financial institution headquartered in Spain (ES). Established in 1857, the bank has grown to become one of the largest banks in Europe, with significant operations across key regions including the UK, Latin America, and the United States. Specialising in retail and commercial banking, Santander offers a diverse range of services, including personal and business banking, mortgages, and investment solutions. Its commitment to innovation and customer-centric services sets it apart in the competitive banking landscape. With a strong market position, Banco Santander has achieved notable milestones, such as its successful digital transformation and expansion into emerging markets. The bank continues to focus on sustainable finance and enhancing customer experience, solidifying its reputation as a trusted financial partner.
DitchCarbon Score
How does Banco Santander's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Banco Santander's score of 57 is higher than 74% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Banco Santander's reported carbon emissions
In 2024, Banco Santander reported total carbon emissions of approximately 1,175,915,000 kg CO2e, comprising 35,503,000 kg CO2e from Scope 1, 24,350,000 kg CO2e from Scope 2 (market-based), and 1,116,061,000 kg CO2e from Scope 3 emissions. In 2023, the bank's total emissions were approximately 172,711,000 kg CO2e, with Scope 1 emissions at 25,755,000 kg CO2e, Scope 2 emissions at 21,516,000 kg CO2e (market-based), and Scope 3 emissions at 125,441,000 kg CO2e. Banco Santander has set ambitious climate commitments, aiming for net-zero emissions across all scopes by 2050, aligning with the Paris Agreement goals. The bank plans to achieve carbon neutrality and source 100% of its electricity from renewable sources by 2025. Additionally, it aims to completely divest from thermal coal producers by 2030. These initiatives reflect a strong commitment to reducing its environmental impact and transitioning towards sustainable practices. The bank's emissions data is sourced directly from Banco Santander, S.A., with no cascaded data from parent or related organizations.
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| 2010 | 2011 | 2012 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 28,792,000 | 00,000,000 | 00,000,000 | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 480,318,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 126,298,000 | 000,000,000 | 000,000,000 | - | - | - | - | - | - | - | 00,000,000 | 00,000,000 | 000,000,000 | 0,000,000,000 |
How Carbon Intensive is Banco Santander's Industry?
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Banco Santander's Scope 3 Categories Breakdown
Banco Santander's Scope 3 emissions, which increased by 790% last year and increased by approximately 784% since 2010, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 63% of Scope 3 emissions.
Top Scope 3 Categories
Banco Santander's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Banco Santander has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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