Banco Santander
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 49 is higher than 96% 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 2023, Banco Santander reported total carbon emissions of approximately 1,727,110,000 kg CO2e. This figure includes Scope 1 emissions of about 35,503,000 kg CO2e, primarily from mobile combustion, and Scope 2 emissions of approximately 24,350,000 kg CO2e, with a market-based approach accounting for 21,516,000 kg CO2e. The bank's Scope 3 emissions were significantly higher, totalling around 1,116,061,000 kg CO2e, with major contributions from purchased goods and services (approximately 698,768,000 kg CO2e) and employee commuting (about 82,569,000 kg CO2e). Banco Santander has set ambitious climate commitments, aiming for 100% of its electricity to come from renewable sources by 2025. The bank achieved carbon neutrality in its own operations in 2020 and has committed to reducing electricity consumption by 2.8% in G10 countries by 2021. Furthermore, Santander joined the Net Zero Asset Managers initiative in March 2021, with a long-term goal to align its asset management portfolio with the 1.5°C global warming limit by 2050. These initiatives reflect Banco Santander's commitment to sustainability and reducing its carbon footprint, aligning with global climate goals.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 27,001,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 258,356,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 132,734,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 0,000,000,000 | 0,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Banco Santander is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
