Banco Santander, a founding member of the Net Zero Banking Alliance (NZBA) within the framework of the Financial Alliance of the United Nations Environment Programme, aims to achieve net zero emissions in 2050 taking into account its own activity and the of its clients, to whom it provides services, products and advice to accompany them in their transition to a low-carbon economy. Banco Santander has expanded its portfolio of sustainable products aimed at individual clients, with the aim of supporting their energy transition and facilitating the achievement of the environmental objectives set by the group.
The offer includes different financial and non-financial products, with which clients can obtain interest rate discounts, advice on energy efficiency and other types of services aimed at helping them transition towards a low-carbon economy. Santander classifies its sustainable financial offer around five verticals: Housing, Transport, Energy, Agriculture and Circular Economy. Regarding housing, the ESG Mortgage is aimed at financing properties that have an Energy Efficiency Certificate of category B or higher. In these cases, the interest rate on these loans can be reduced by up to 0.10% and the offer extends to the entire Santander mortgage catalogue, whether for primary residences, youth mortgages or self-construction, among others.
Also in terms of housing, Santander offers energy efficiency loans for home renovations aimed at making energy consumption more efficient, as well as credits with the same purpose for neighborhood communities. In addition, the bank recently announced an agreement with Holaluz for the installation of solar panels in homes, with a comprehensive value proposition that includes advice, processing aid and subsidies, and access to financing. Santander also has other forms of green financing (consumer, guarantees, renting, etc.) intended for individuals, self-employed workers and companies with discounted rates as long as the purpose generates a positive environmental impact.
Along with this offer, the bank offers its clients a catalog of non-financial services aimed at facilitating their energy transition. Recently, the bank has incorporated a “turnkey” service for communities of owners, which includes everything from the preparation of a free construction study for the rehabilitation of their residential complex to obtaining funds to carry it out. It also facilitates obtaining the AENOR sustainability seal for microenterprises, as well as help to prepare their Non-Financial Information Statements, with which they can value their credentials in environmental, social and governance matters.
Santander also has a management and information platform on public aid, created in collaboration with KPMG and LocalEurope, to facilitate companies and self-employed workers with access to all information on national, regional and European public aid, including that from Next funds. Generation EU. Likewise, in 2022 the bank launched a functionality in its app and website that allows individual customers in Spain to measure their own carbon footprint based on purchases made with their Santander cards and direct debit receipts. In terms of investment, the entity has a first range of funds managed under the concept of sustainability in Spain with which it invests in companies that are committed to innovation, energy efficiency and social well-being.
Santander's sustainable investment is based on a process that allows a comprehensive analysis of each issuer and where other criteria such as environmental, social and corporate governance (ESG) are added to the financial analysis. Santander has been a leading bank in renewable energy financing for more than 10 years, and in 2022 it has continued to be among the two best banks in number and volume of transactions globally, with an installed capacity in 2022 alone of 15.6 gigawatts (GW) that avoid the emission of 152 million tons of CO2 into the atmosphere. The bank has set the goal of setting zero net carbon emissions by 2050, not only in its direct activity but also in that derived from our financing, advisory and investment activities for its clients.
