Santander UK Group Holdings plc Sustainability Profile
Santander UK Group Holdings plc, commonly known as Santander UK, is a prominent banking institution headquartered in Great Britain. Established in 2010, it operates primarily in the financial services industry, offering a wide range of banking products and services tailored for personal, business, and corporate clients. With a strong presence across the UK, Santander UK is renowned for its innovative approach to banking, including competitive mortgage offerings, personal loans, and a robust digital banking platform. The bank has achieved significant milestones, including the expansion of its branch network and the introduction of customer-centric initiatives that enhance user experience. As a subsidiary of the global Santander Group, Santander UK holds a notable position in the market, recognised for its commitment to customer service and financial inclusion. Its unique blend of traditional banking values and modern technology sets it apart in the competitive landscape.
DitchCarbon Score
How does Santander UK Group Holdings plc'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
Santander UK Group Holdings plc's score of 52 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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Santander UK Group Holdings plc's reported carbon emissions
In 2023, Santander UK Group Holdings plc reported total carbon emissions of approximately 5,438,000 kg CO2e. This figure includes 2,827,000 kg CO2e from Scope 1 emissions, which primarily arise from direct operations, and 84,000 kg CO2e from Scope 2 emissions, related to purchased electricity. Additionally, the bank's Scope 3 emissions, which encompass indirect emissions such as business travel, amounted to about 2,527,000 kg CO2e. Comparatively, in 2022, the total emissions were higher at approximately 5,963,000 kg CO2e, with Scope 1 emissions at 4,512,000 kg CO2e and Scope 3 emissions at 1,398,000 kg CO2e. This indicates a reduction in total emissions year-on-year, reflecting the bank's commitment to sustainability. Santander UK has set ambitious climate targets, aiming to achieve net zero emissions in its own operations (Scope 1 and Scope 2) by 2030. This commitment is part of a broader strategy to enhance environmental performance and reduce carbon footprints across its operations. The emissions data reported by Santander UK Group Holdings plc is cascaded from its parent company, Banco Santander, S.A., which provides a comprehensive view of the group's overall climate impact. The bank's ongoing initiatives and targets underscore its dedication to addressing climate change and promoting sustainable practices within the financial sector.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 5,937,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 22,014,000 | - | 000 | 000 |
| Scope 3 | 515,000 | 000,000 | 0,000,000 | 0,000,000 |
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Santander UK Group Holdings plc's Scope 3 Categories Breakdown
Santander UK Group Holdings plc's Scope 3 emissions, which increased by 80% last year and increased by approximately 383% since 2020, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 47% of total emissions under the GHG Protocol, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
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Santander UK Group Holdings plc's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Santander UK Group Holdings plc has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
