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 57 is higher than 76% 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 534,923,100 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 bank's emissions data is sourced directly from Banco Santander, S.A. and reflects its global operations. For 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. Notably, in the US, Scope 1 emissions were reported at 5,542,000 kg CO2e, while Scope 2 emissions reached 22,678,000 kg CO2e. Banco Santander has set ambitious climate commitments, aiming for net-zero emissions across all scopes by 2050. The bank plans to achieve carbon neutrality and source 100% of its electricity from renewable sources by 2025. Additionally, it has committed to completely reducing its exposure to thermal coal producers by 2030. The bank's initiatives include a 46% reduction target for Scope 1 emissions per MWh by 2030, starting from a baseline of 0.21 tCO2e/MWh. These commitments align with the bank's participation in the Net Zero Asset Managers initiative, which aims to limit global warming to 1.5°C. Overall, Banco Santander is actively working towards significant reductions in its carbon footprint while enhancing its sustainability practices.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 27,001,000 | 00,000,000 | 00,000,000 | 0,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 258,356,000 | 000,000,000 | 000,000,000 | 00,000,000 | 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 | - | - | 00,000,000 | 0,000,000 | 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.
