There is a city small in size, but huge in initiative. A town that barely reaches 30,000 inhabitants, but which is home to the first completely sustainable residential development in the United Kingdom. A community where its 400 houses pamper the planet with solar panels on the roofs, where the buses are electric and where the bicycle is the main means of transport.
That dream and reality is called Elmsbrook and it is the first eco-city to be built in the United Kingdom, specifically, on the outskirts of the municipality of Bicester, 18 kilometers northeast of Oxford. The project, which has managed to achieve net zero emissions, thus becomes a mirror in which the world must look at itself. And Banco Santander already does.
In its commitment to the fight against climate change and sustainable mobility, the entity has found in this example an inspiration that it wants to transfer to the field of Formula 1, through its return to this sport as official sponsor of Ferrari, which already took over between 2010 and 2017. Because the team's goal is what Banco Santander has already achieved in 2020, to be carbon neutral by 2030. Together, they form a team willing to contribute to F1's ambition of reaching net zero emissions by 2030 and help move the automotive industry in general forward to create real, positive change.
“We are very excited to work with Ferrari again and support them in their green transition. Santander is committed to the fight against climate change and, as the leading car finance company in Europe, we want to help make the car industry sustainable. This alliance with Ferrari will accelerate the development of both companies in this field”, in the words of Ana Botín, president of Banco Santander.
For 70 years, F1 and team investment have served as a test bed for technological advances, from aspects of aerodynamics to brake design, which have enabled the car industry to combat carbon emissions. Thus, for example, since 2014, the fuel efficiency of F1 cars has improved by 50%. The year 2026 will arrive with the presentation of the new Formula 1 engine (second generation hybrid power unit), which will be neutral in carbon emissions and will carry advanced sustainable fuel.
Banco Santander wants to contribute to this latest feat, which with its sponsorship will bring even closer the possibility of the new carbon-neutral engine being present in all the circuits where the Grand Prix are held. It will also continue working to make F1 cars 30% more efficient in terms of fuel consumption. To achieve these and other objectives, the entity has made a wide range of solutions available to the Ferrari team to develop technological advances and contribute to the sustainability of the sector. And it is that, only with research and innovation will change be achieved.
“It is an honor to have a global financial leader like Banco Santander as a partner, which also stands out for its responsible banking, its world leadership in the financing of renewable energies and advice on ESG projects. We thank you for your support in achieving our priority goal of achieving carbon neutrality by 2030. The great innovations and technological advances in F1 are transferred to the entire industry, which benefits society as a whole, ”said John Elkann, president of Ferrari.
Working in close collaboration with Formula One Management (FOM), owner of F1, and Ferrari, the entity embraces the opportunity to promote the change towards a sustainable model, helping to reduce CO2 emissions. Because the more the actors involved in this change can innovate together to find new technologies that contribute to decarbonising people's daily lives, the sooner the goal of zero emissions will be achieved. A challenge that concerns us all for the care of the planet.
Banco Santander has closed the first half of 2022 as the world leader in financing renewable energy projects, with a total financed amount of more than 2,400 million euros, and its investment banking business (Santander CIB) has teams specialized in advising large clients in their green transition. The entity is also carbon neutral in its activity since 2020 and has the commitment to reach zero net emissions by 2050 for all the emissions of its clients derived from any of the financing, advisory or investment services it offers. In addition, the car financing bank's businesses in Europe (Santander Consumer Finance), the United States (Santander Consumer USA) and other markets are supporting the development of sustainable mobility solutions.