Santander Group to be net zero carbon-wise by 2030

Wednesday 24 February 2021 10:30 CET | News

Santander Group has announced it has set its ambition to be net zero by 2050, supported by first decarbonisation targets.

By 2030, Santander will align its power generation portfolio with the Paris Agreement. As part of this, the group will stop providing financial services to power generation clients with more than 10% of revenues dependent on thermal coal and eliminate all exposure to thermal coal mining worldwide.

The ambition applies to the group’s own operations, which are net zero since 2020, and all client emissions that result from any lending, advisory or investment services provided by Santander.

By 2030 the bank wants to eliminate all exposure to thermal coal mining worldwide. The bank will provide further details of its roadmap to achieving its net zero emissions ambition in its Climate Finance report, which will be published later in 2021. The group will share decarbonisation targets for other material sectors no later than September 2022, including oil and gas, transport1, and mining and metals.

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Keywords: Santander, banks, retail banking
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech