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European Climate Pact

Overview

Location

Spain

Sector

Banking, Financial and Insurance Services

Organisation type
Business

Company Information

Banco Santander is a listed global bank with headquarters in Boadilla del Monte, Spain. In 2021, it reported a total revenue of 46.4 billion Euro and 197,000 employees.*

*Source

Our progress towards decarbonization

 

GHG Emissions

Our actions – the Pathway

  • Have a short-medium term GHG emissions reduction target (scope 1+2) with a 2.1% year-on-year reduction at a minimum
  • Have an internal price on carbon 
  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 

MRV: Pact MRV in place

Status date: Submitted (02/08/2022)

Data source: CDP Climate Change 2022

 

Emissions -FS

Our actions – the Pathway

  • Have an exclusion policy to phase out all fossil fuels-related industries and activities in our portfolios by no later than 2030
  • Have an exclusion policy to phase out all coal-related industries and activities in our portfolios by no later than 2030
  • Conduct analysis to understand the impact of our investment portfolio on the planet, in line with TCFD recommendations
  • Join the Partnership for Carbon Accounting Financials (PCAF)

MRV: Pact MRV in place

Status date: Submitted (02/08/2022)

Data source: CDP Climate Change 2022

 

Governance & Strategy

North Star

  • Banco Santander has a publicly available 1.5°C aligned low-carbon transition plan

MRV: Pact MRV in place

Status date: Submitted (02/08/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have a high-level management position with climate-related responsibilities
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

MRV: Pact MRV in place

Status date: Submitted (02/08/2022)

Data source: CDP Climate Change 2022

 

Buildings

Our actions – the Pathway

  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in buildings
  • Have a target to increase the % of buildings with a green building certificate (as share of total)

MRV: Pact MRV in place

Status date: Submitted (02/08/2022)

Data source: CDP Climate Change 2022

 

Value chain engagement

Our actions – the Pathway

  • Have an ongoing and transparent dialogue with our value chain around climate-related issues

MRV: Pact MRV in place

Status date: Submitted (02/08/2022)

Data source: CDP Climate Change 2022