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OrganisationsBanco Santander
Banco Santander logo

Banco Santander

Financial IntermediationSpainBME: SAN.MC
Last verified 7 months agosantander.co.uk

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 evolved into a prominent player in the financial intermediation services sector, excluding insurance and pension funding services. With a strong presence across Europe, Latin America, and the United States, Santander offers a diverse range of services, including retail banking, corporate banking, and wealth management.

Renowned for its customer-centric approach, Banco Santander provides innovative products such as digital banking solutions and personalised financial services, setting it apart in a competitive market. The bank has achieved significant milestones, including its expansion into key international markets and a robust digital transformation strategy. As one of the largest banks in Europe by market capitalisation, Santander continues to solidify its position through strategic growth and a commitment to sustainability.

54
DitchCarbon score

+19 vs industry average

Banco Santander’s score of 54 is higher than 70% of the industry. This can give you a sense of how well the company is doing compared to its peers.

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Industry Intensity

Very Low

Financial Intermediation is among the least carbon-intensive industries

Industry performance

0.062
20192025

The Financial Intermediation industry has increased its overall emissions by 11% since 2019

Emissions trajectory 2020 – 2027

0.0B0.0B000.0M000.0M0

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20202021202220232024202520262027

Reported emissions

Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e

Scope 3 accounts for ••• of total emissions.

Banco Santander's reported carbon emissions

Banco Santander, headquartered in Spain, is a leading financial institution operating in financial intermediation services. In 2024, the company reported a total of approximately 1.18 billion kg CO2e in emissions. This figure comprises Scope 1 emissions of around 35.5 million kg CO2e, Scope 2 emissions (market-based) of approximately 24.4 million kg CO2e, and Scope 3 emissions totalling roughly 1.12 billion kg CO2e. For the 2023 reporting year, Banco Santander's total emissions were approximately 172.7 million kg CO2e. This included Scope 1 emissions of about 25.8 million kg CO2e, Scope 2 emissions (market-based) of approximately 21.5 million kg CO2e, and Scope 3 emissions of around 125.4 million kg CO2e. Banco Santander has established several climate commitments. The bank aims to be carbon neutral and source electricity from renewable energy by 2025. Additionally, it is committed to achieving net-zero greenhouse gas emissions across its operations by 2050. This ambition aligns with its participation in the Net Zero Asset Managers initiative, with a goal to align its asset management portfolio accordingly by 2050. Furthermore, there is a commitment to reduce the bank's exposure to thermal coal producers by 2030. The company has also reported a 46% reduction in its Scope 1 intensity (tCO2e/MWh) between 2019 and 2030.

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Banco Santander’s Climate Goals (2030 & 2050)

9 goals

2050

In March 2021, we joined the Net Zero Asset Managers (NZAM)…

In March 2021, we joined the Net Zero Asset Managers (NZAM) initiative with the ambition to align the Santander Asset Management portfolio b…

On track0%

2030

62% reduction in total GHG

Vs 2019 baseline. Validated by SBTi. Includes full supply chain.

At risk48%

2040

50% reduction in Scope 3 intensity

Across purchased goods and services and logistics.

Behind target22%

See all 9 climate goals

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Scope 3 top emissions categories

6 of 15 categories disclosed
Purchased Goods & Services63%
Capital Goods19%
Employee Commuting7%
Upstream Transportation & Distribution5%
Business Travel5%
Downstream Transportation & Distribution1%
Purchased Goods & Services63%
Capital Goods19%
Employee Commuting7%
Upstream Transportation & Distribution5%
Business Travel5%
Downstream Transportation & Distribution1%

See all scope 3 categories

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Climate initiatives

SCIENCE BASED TARGETS

Science Based Targets Initiative

See details
Not active
CDP

Carbon Disclosure Project

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Active
THE CLIMATE PLEDGE

The Climate Pledge

See details
Not active
United Nations Global Compact

UN Global Compact Climate Champions initiative

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Not active
RE 100

RE 100

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Not active
Climate Action 100+

Climate Action 100

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Not active

Emissions comparison with industry peers

View similar organisations
CompanyCountryIndustryLast updatedScoreDetails
Banco Santander logoBanco Santander
ESFinancial Intermediation
7 months ago
54
Hsbc Holdings logoHsbc Holdings
GBCommercial Banking
19 hours ago
100
View
Ubs logoUbs
CHFinancial Intermediation
24 hours ago
100
View
Banco Bilbao Vizcaya Argentaria logoBanco Bilbao Vizcaya Argentaria
ESServices Auxiliary to Financial Intermediation
2 hours ago
95
View
Intesa Sanpaolo logoIntesa Sanpaolo
ITFinancial Intermediation
10 days ago
94
View
Skandinaviska Enskilda Banken AB (publ) logoSkandinaviska Enskilda Banken AB (publ)
SEFinancial Intermediation
10 days ago
88
View
Danske Bank A Slash S logoDanske Bank A Slash S
DKFinancial Intermediation
16 days ago
87
View

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Ditchcarbonv260319.2
[email protected]+44 203 475 7875

Ditch Carbon Ltd

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