- Lloyds says business confidence inches into positive territory, driven by hopes for economic revival
- Banking and finance industry supports almost 1.6 million businesses through COVID-19 loan schemes
- Bank of England publishes ‘Transforming Data Collection from the UK Financial Sector: A Plan for 2021 and beyond’
- UK Finance says Black Friday and national lockdown behind spike in online spending in November
- Anti-Money Laundering Directives ‘increase valuation of European banks’ says research
- The Financial Conduct Authority (FCA) makes senior appointments to drive its transformation
- What trends will emerge from the banking industry this year?; Mark Aldred, banking specialist at Auriga comments expired
- NewDay launches credit building feature Aqua Coach, with tools and insights from TransUnion expired
- Fronted becomes second FinTech to launch on Yobota’s core banking platform expired
- Xero calls for urgent action as UK small business revenue continues to fall expired
- deVere says boomers and retirees embracing Bitcoin and cryptocurrencies expired
- Moneyfacts says first-time landlord opportunity rises in 2021 expired
23rd February 2021
By 2030, Santander will align its power generation portfolio with the Paris Agreemen
To support the goals of the Paris Agreement on climate change, Santander has announced its ambition to achieve net zero carbon emissions across the group by 2050. 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.
To achieve this and help facilitate the transition to a low-carbon economy, by 2030 the bank will align its power generation portfolio with the Paris Agreement, and has also published its first decarbonisation targets:
By 2030, Santander will have stopped providing financial services to power generation clients with more than 10% of revenues dependent on thermal coal. By 2030 the bank will eliminate all exposure to thermal coal mining worldwide.
These are Santander’s first decarbonization targets for its financial activities and affect material carbon emitting sectors. 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 this year. The group will share decarbonization targets for other material sectors no later than September 2022, including oil & gas, transport, and mining & metals.
Ana Botín, Banco Santander executive chairman, comments "Climate change is a global emergency. As one of the world’s largest banks, with 148 million customers, we have a responsibility and an opportunity to support the green transition, and encourage more people and businesses to go green. There is much, much more to be done, but today’s commitments are important steps on the journey.”
Santander Trends(720 articles)