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 56 is higher than 97% 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 significant carbon emissions across various scopes. The total emissions for the year amounted to approximately 1,727,110,000 kg CO2e globally. This includes 35,503,000 kg CO2e from Scope 1, 24,350,000 kg CO2e from Scope 2, and a substantial 1,116,061,000 kg CO2e from Scope 3 emissions. In the UK, emissions were reported as 28,270,000 kg CO2e for Scope 1 and 16,211,000 kg CO2e for Scope 2, with 2,527,000 kg CO2e from business travel under Scope 3. Banco Santander has set ambitious climate commitments, aiming for net-zero emissions across all scopes by 2050. The bank plans to cease financing power companies that derive more than 10% of their revenue from coal-fired power generation by 2030. Additionally, Santander is committed to achieving carbon neutrality and sourcing 100% of its electricity from renewable sources by 2025. The bank has also reported a target to reduce Scope 1 emissions intensity by 46% by 2030. These initiatives reflect Santander's dedication to addressing climate change and reducing its carbon footprint, aligning with global efforts to limit warming to 1.5°C.
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| 2011 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 122,004,271,000 | 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 | 3,025,730,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 1,013,658,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | - | 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.
