Santander Holdings USA, Inc.
Climate Impact & Sustainability Data (2022, 2022-07-01 to 2023-06-30)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:20,868 tCO2e/year
Scope 1 Emissions:5,885 tCO2e/year
Scope 2 Emissions:9,611 tCO2e/year (market based)
Scope 3 Emissions:5,372 tCO2e/year (indirect from employee travel)
Renewable Energy Share:58.9%
Total Energy Consumption:262,263,325 kWh/year
ESG Focus Areas
- Empowering people and businesses
- Fostering inclusive communities
- Supporting the green economy
Environmental Achievements
- 100% carbon neutral in operations (through emissions reduction and offset purchases)
- 59% electricity from renewable sources
- Underwrote $2B in renewable energy finance
- $888M financing of battery and hybrid electric vehicles
- 100% elimination of single-use plastics
Social Achievements
- Launched new Community Plan, a $13.6B three-year commitment to communities
- $29M charitable giving (61% increase over 2021)
- 39,003 employee volunteer hours
- 23,949 individuals counseled with financial education
- 119,809 financially empowered people
- 0.3% Equal Pay Gap
Governance Achievements
- Introduced revised corporate behaviors (TEAMS)
- Enhanced due diligence with revised socio-environmental surveys
- Enhanced ESG data collection and governance
- Expanded sustainability educational opportunities
- Issued a $500 million sustainable bond
Climate Goals & Targets
Long-term Goals:
- Net zero emissions by 2050
Medium-term Goals:
- Achieve 100% renewable energy by 2025
Short-term Goals:
- Reduce water consumption by 25% by 2025
- Reduce waste to landfills by 20% by 2025
- Reduce paper consumption by 25% by 2025
- Reduce energy usage by 15% by 2025
Environmental Challenges
- Climate change related risks (transition and physical)
- Data limitations in assessing financed emissions
Mitigation Strategies
- Effective climate risk management framework
- Developing climate risk management capabilities (governance, data, reporting, scenario analysis)
- Adoption of Santander Group’s Sustainable Finance Classification System (SFCS)
- Proactive engagement with industry trade groups and regulators on climate risk
Supply Chain Management
Responsible Procurement
- Supplier diversity program
Climate-Related Risks & Opportunities
Physical Risks
- Severe weather events (hurricanes, floods, wildfires)
- Chronic climate impacts (heat stress, water stress, sea level rise)
Transition Risks
- Policy/regulatory actions
- Technological innovations
- Legal risks
- Reputational risks
Opportunities
- Growth in renewable energy finance
- Development of energy-efficient products and services
Reporting Standards
Frameworks Used: GRI, SASB, TCFD
UN Sustainable Development Goals
- Goal 7 (Affordable and Clean Energy)
- Goal 8 (Decent Work and Economic Growth)
- Goal 9 (Industry, Innovation and Infrastructure)
- Goal 10 (Reduced Inequalities)
- Goal 11 (Sustainable Cities and Communities)
- Goal 13 (Climate Action)
Santander US's initiatives contribute to these goals through various programs and commitments detailed in the report.
Sustainable Products & Innovation
- Sustainable bond
- Green and sustainability-linked loans and bonds
Awards & Recognition
- World’s Most Sustainable Banks (Dow Jones)
- Highest Ranked Among Banks (Bloomberg Gender-Equity Index)
- Best Global Brand (Interbrand)
- Bank of the Year for Financial Inclusion (The Banker Magazine)
Reporting Period: 2022-07-01 to 2023-06-30
Environmental Metrics
ESG Focus Areas
- Renewable Energy
- Affordable Housing
Environmental Achievements
- Financed almost 17,000 hybrid and electric vehicles totaling $888M.
- Issued a $500 million sustainability bond, the first within Santander Group under the Green, Social & Sustainable Funding Global Framework.
- Avoided 254,243 tons of CO2 emissions from renewable energy projects.
Social Achievements
- Launched new Community Plan, a $13.6B three-year commitment to our communities.
- Supported the humanitarian response to the war in Ukraine, as well as local disaster relief.
- Expanded programming in key initiatives, including Cultivate Small Business, Digital Equity and Ignite Financial Success.
Governance Achievements
- Introduced our revised corporate behaviors (TEAMS), which guide our interactions with customers and each other to help deliver on our global purpose of helping people and businesses prosper.
- Enhanced due diligence with revised socio-environmental surveys for customer-facing operations and vendors.
- Expanded sustainability educational opportunities, including a US-wide training and various specialized trainings.
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Santander Group Green, Social & Sustainability Funding Global Framework, ICMA’s Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2021, Green Loan Principles 2021, and Social Loan Principles 2021
Third-party Assurance: Sustainalytics (Limited Assurance)
UN Sustainable Development Goals
- 7 (Affordable and Clean Energy)
- 11 (Sustainable Cities and Communities)
Investments in renewable energy and affordable housing contribute to these goals.