Santander UK plc Sustainability Profile
Santander UK plc, a prominent subsidiary of the global banking giant Banco Santander, is headquartered in Great Britain and serves a diverse clientele across the UK. Established in 2010, Santander UK has rapidly evolved within the financial services industry, focusing on retail and commercial banking, as well as wealth management. The bank offers a range of core products, including personal and business accounts, mortgages, and loans, distinguished by competitive rates and customer-centric services. Santander UK is recognised for its innovative digital banking solutions, enhancing customer experience and accessibility. With a strong market position, Santander UK has achieved notable milestones, including significant growth in customer base and a commitment to sustainability initiatives. The bank continues to play a vital role in the UK’s financial landscape, providing reliable banking solutions tailored to meet the needs of its customers.
DitchCarbon Score
How does Santander UK 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 plc's score of 36 is higher than 56% 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 plc's reported carbon emissions
In 2023, Santander UK plc reported total carbon emissions of approximately 3,500,000 kg CO2e. This includes Scope 1 emissions of about 1,000,000 kg CO2e, Scope 2 emissions of approximately 500,000 kg CO2e, and significant Scope 3 emissions totalling around 2,000,000 kg CO2e. Within Scope 3, emissions from business travel and employee commuting each accounted for about 500,000 kg CO2e, while purchased goods and services contributed approximately 1,200,000 kg CO2e, and waste generated in operations added around 300,000 kg CO2e. In 2021, Santander UK plc's emissions were significantly higher, with Scope 1 emissions reported at about 6,074,000 kg CO2e and Scope 2 emissions at approximately 18,860,000 kg CO2e. Notably, no Scope 3 emissions data was disclosed for that year. Santander UK plc is a current subsidiary of Banco Santander, S.A., which influences its emissions reporting. The emissions data for 2023 is cascaded from the parent company, reflecting the broader corporate family's sustainability efforts. Despite the emissions data, there are currently no specific reduction targets or climate pledges reported by Santander UK plc. The absence of documented reduction initiatives suggests a need for enhanced climate commitments in line with industry standards.
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| 2023 | |
|---|---|
| Scope 1 | 1,000,000 |
| Scope 2 | 500,000 |
| Scope 3 | 2,000,000 |
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Santander UK plc's Scope 3 Categories Breakdown
Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 57% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 60% of Scope 3 emissions.
Top Scope 3 Categories
Santander UK 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 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.
