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 78% 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 has set ambitious climate commitments, aiming for net-zero emissions across all scopes by 2050. Additionally, Santander plans to achieve carbon neutrality and source 100% of its electricity from renewable sources by 2025. In terms of specific reduction initiatives, Santander has committed to reducing its exposure to thermal coal producers by 2030. The bank has also reported a significant reduction target of 46% in Scope 1 emissions per MWh by 2030, compared to 2019 levels. 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 reducing its carbon footprint and enhancing its sustainability practices, reflecting a strong commitment to addressing climate change.
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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.
