Prioritizing sustainable policies is no longer an option. Changing our social and business habits in relation to the environment is completely unavoidable. Sustainability is an objective that is strongly present in companies, institutions and society. The urgency in the fight against climate change demands it: the planet needs us. In this context, the sustainability strategy is gaining strength in companies, more aware than ever of the environment in which they operate and also aware that their customers are increasingly committed to conserving the environment and demand solutions.
Banco Santander is determined to lead the transition towards a green economy and, since it financed the first photovoltaic plants in Spain 20 years ago, the entity, which is a member of the Net Zero Banking Alliance, continues to work to achieve net zero emissions by 2050 , both in its own activity and for all the issues of its clients derived from any of the financing, advisory or investment services it offers. In this context, there are many initiatives that the financial institution has underway to achieve its set objectives. And what better beginning than knowing the impact of your activity.
The Group has been measuring and analyzing its own carbon footprint since 2011, the first step in reformulating its business based on criteria based on sustainability and verifying, as the measures are applied, their effectiveness in favor of the environment. Now this commitment will also allow its private customers in Spain to measure their own carbon footprint on a monthly basis based on purchases made with their Santander cards and direct debits.
A new functionality that is already available on its app and website, a pioneer in the Spanish market thanks to its high functionality and that also allows it to offset its carbon emissions by collaborating voluntarily in different projects that try to avoid new emissions or absorb already issued, what are known in the market as carbon credits, through ClimateTrade.
In this way, Santander offers its customers the possibility of supporting renewable energy generation initiatives, ecosystem conservation or forest reforestation.
Santander's collaboration with “Motor Verde” is another example of its contribution. This is the largest reforestation project in Spain promoted by the Repsol Foundation together with the Sylvestris Group and which aims to reforest more than 70,000 hectares throughout Spain, with more than 60 million trees planted to offset up to 16 million tons of CO2 and At the same time, generate 15,000 local and inclusive jobs.
The financial entity contributes to this initiative with an investment of 1.5 million euros for the reforestation of 300 hectares that will offset the emission of more than 82,000 tons of CO2. The Cáceres municipality of Caminomorico has been the place chosen to take the first steps, since work has already begun there to reforest 600 hectares in which one of the three “Santander forests” contemplated in the agreement will grow.
Plastics continue to be another of the great threats to the environment, and more specifically to our seas, oceans and rivers. For this reason, Banco Santander has been promoting “Santander Natura” since 2019, an initiative that involves employees of the entity, who, together with their families and other volunteer citizens, go to the Spanish coasts, riverbanks or forest areas to remove plastics that damage our ecosystems so much.
Since its launch, more than 800 volunteer employees, along with their families, have participated in the promoted actions, such as cleaning beaches in Galicia and Asturias, planting trees in Zaragoza or Toledo, and collecting plastics and rubbish on the banks of rivers such as the Tormes, the Saja or the Guadiana. Thanks to all these actions, the entity has already managed to remove more than a ton of waste, in addition to promoting the participation of dozens of children and adolescents in bird workshops, the construction of numerous nest boxes with recycled materials in different Spanish forests and the awareness of the importance of caring for our planet.
The conservation of ecosystems is a long-distance race, which is why Santander continues to innovate with each of its initiatives to reduce its environmental impact. One of the latest actions launched allows you to recycle expired debit and credit cards so that they can be converted into street furniture. To do this, the customer only has to deposit their card in the ATM and a few days later they will receive a message confirming that their card has been recycled.
All this is possible thanks to G D, the company that is responsible for the entire process of managing expired cards, turning them into raw material to manufacture, together with marine nets recovered from the seabed, urban furniture such as benches or litter bins, giving a second life to these cards and thus contributing to the circular economy. Valencia City Council will be the first public institution to which Banco Santander will donate the resulting furniture.
To achieve this goal, in Spain and Portugal all the entity's debit and credit cards are already manufactured with sustainable materials. In 2021, Santander announced the launch of the new One Europe sustainable cards. In our country alone, more than 2.3 million units have already been issued and before the end of 2022 all debit and credit cards in Spain, Portugal, Poland and the United Kingdom will be made with sustainable materials. In this way, Santander Europe will avoid the emission of more than 1,000 tons of CO₂ per year and will reduce the use of plastic by 60 tons each year. Customers will be able to renew their card only in virtual format so as not to generate plastic and, if they need it, they can request the physical card from their mobile.
