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 54 is higher than 75% 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, with emissions distributed across various scopes: 35,503,000 kg CO2e (Scope 1), 24,350,000 kg CO2e (Scope 2, market-based), and 1,116,061,000 kg CO2e (Scope 3). The previous year, 2023, saw total emissions of about 172,711,000 kg CO2e, comprising 25,755,000 kg CO2e (Scope 1), 21,516,000 kg CO2e (Scope 2, market-based), and 125,441,000 kg CO2e (Scope 3). Banco Santander has set ambitious climate commitments, aiming for net-zero emissions across all scopes by 2050. This commitment aligns with the global Net Zero Asset Managers initiative, which Santander Asset Management joined in March 2021. Additionally, the bank plans to achieve carbon neutrality and source 100% of its electricity from renewable sources by 2025. Notably, it aims to reduce its Scope 1 emissions intensity from 0.21 tCO2e/MWh to 0.11 tCO2e/MWh by 2030, representing a 46% reduction. The bank's strategy includes a commitment to completely phase out exposure to thermal coal producers by 2030, further demonstrating its dedication to sustainable practices. Overall, Banco Santander's emissions data and climate commitments reflect a proactive approach to addressing climate change and reducing its carbon footprint.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| 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 | 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 | 00,000,000 |
| Scope 3 | 132,734,000 | 000,000,000 | 000,000,000 | 000,000,000 | - | 00,000,000 | 00,000,000 | 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.
