Santander, a global banking company, has set net-zero targets as part of its commitment to addressing climate change. The company aims to achieve net-zero by 2050 by creating a zero-emission economy and meeting the goals of the Paris Agreement. Santander has integrated environmental, social, and climate change (ESCC) risks into its operations, credit analysis, customers, and procedures.

In terms of carbon emissions, the company mentions its carbon footprint and the calculation of greenhouse gas (GHG) emissions. In the year 2022, Santander reported the following greenhouse gas emissions (GHG) figures: direct emissions (CO2 teq) at 21,967, indirect electricity emissions (CO2 teq) in the market-based category at 30,917, and indirect electricity emissions (CO2 teq) in the location-based category at 217,906. Additionally, indirect emissions resulting from the displacement of employees (CO2 teq) amounted to 81,535. The total emissions in the market-based category (CO2 teq) were 134,419, and the emissions per employee stood at 0.69 CO2 teq. Santander's Energy Efficiency and Sustainability Plan for 2022-2025, outlines more than 100 measures that will enable the company to achieve a 2.6% reduction in electricity consumption and a substantial 35.4% reduction in absolute CO2e emissions.

Santander has taken steps to reduce emissions and achieve its net-zero targets. The company has eliminated the use of unnecessary single-use plastic in all its buildings and offices. It has also offset its Scope 1 and Scope 3 emissions through the purchase of renewable energy certificates (iRECs) and certified emission reductions (CERs) from wind projects. Additionally, the company has joined the Net-Zero Banking Alliance and is measuring and analyzing the carbon footprint of its portfolios to ensure alignment with the Paris Agreement.

The excerpts also mention the incorporation of environmental, social, and governance (ESG) factors in credit analysis. Santander has policies in place that apply specific environmental and social components to its business lines. The company considers risks related to the environment and climate change in its risk management processes.

In conclusion, Santander is committed to achieving net-zero emissions in its operations and addressing climate change. The company has implemented measures to reduce emissions and align its portfolios with the Paris Agreement. By incorporating ESG factors into its credit analysis and risk management, Santander aims to promote sustainable and responsible banking practices.

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