Banco Santander

Banco Santander, a financial intermediation services provider headquartered in ES, is committed to reducing its environmental impact. For the reporting year 2024, the company reported total emissions of approximately 1,175,915,000 kg CO2e. This includes Scope 1 emissions of approximately 35,503,000 kg CO2e, Scope 2 emissions (market-based) of approximately 24,350,000 kg CO2e, and Scope 3 emissions of approximately 1,116,061,000 kg CO2e. Significant Scope 3 categories include purchased goods and services, which accounted for approximately 698,768,000 kg CO2e, and capital goods at approximately 216,388,000 kg CO2e.

In 2023, total emissions were approximately 172,711,000 kg CO2e, comprising Scope 1 at approximately 25,755,000 kg CO2e, Scope 2 (market-based) at approximately 21,516,000 kg CO2e, and Scope 3 at approximately 125,441,000 kg CO2e.

Banco Santander aims to achieve net-zero greenhouse gas emissions across its operations by 2050. The company has set a near-term target to be carbon neutral and to source electricity from renewable energy by 2025. Additionally, they are committed to a 46% reduction in Scope 1 tCO2e/MWh intensity by 2030, having achieved significant progress towards this goal. Santander Asset Management has also joined the Net Zero Asset Managers (NZAM) initiative, with an ambition to align its portfolio with limiting global warming to 1.5°C by 2050. Furthermore, there is a commitment to completely reduce exposure to thermal coal producers by 2030. For Scope 2, the bank aims for 100% of its electricity usage to come from renewable energy sources by 2025.