The bank is working in the markets where it operates to ensure it has little impact on the environment and to lead the transition towards a low-carbon economy, accompanying its customers along the way. It has also pledged to contribute to the Sustainable Development Goals and the Paris Agreement to combat climate change.
Its latest step was to announce decarbonization targets in February for net-zero emissions by 2050.
The bank, which last year topped the charts in renewable energy financing, will align its power generation portfolio to the Paris Agreement by 2030, cease to provide financial services to clients that rely on coal for more than 10% of their revenues, and eliminate its exposure to thermal coal mining worldwide.
Having achieved carbon neutrality in 2020, it has made other climate change and environmental pledges, such as sourcing its entire electricity supply from renewable energy in its core markets by 2025; helping its customers transition to a low-carbon economy; and financing and mobilizing 220 billion euros in green finance between 2019 and 2030.
Banco Santander SA published this content on 27 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 March 2021 07:51:00 UTC.