Banco Santander – Interim Target A

(p7) starting with the climate-material sectors in our portfolio, we are committed to aligning our power generation portfolio with the paris agreement goals by 2030. in our finance operations, our two initial decarbonization targets set concerning high emitting activities are: i) ending financial services to power generation customers with over 10% of revenues coming from thermal coal by 2030; and ii)cutting our exposure to thermal coal mining to zero by 2030. in april 2021, we became a founding member of the net zero banking alliance (under the united nations environment programme finance initiative). it sets out to: i) transition operational and attributable greenhouse gas (ghg) emissions from lending and investment portfolios towards pathways to net-zero by mid-century. ii) set intermediate targets for 2030 (or sooner) in respect of priority ghg-emitting sectors. iii) prioritize client engagement with products and services that facilitate their needed transition in the real economy. (p8) reduce our impact on the environment to remain carbon neutral and source electricity from renewable energy by 2025.
by
2030
Description of Interim Target

starting with the climate-material sectors in our portfolio, we are committed to aligning our power generation portfolio with the paris agreement goals by 2030. in our finance operations, our two initial decarbonization targets set concerning high emitting activities are: i) ending financial services to power generation customers with over 10% of revenues coming from thermal coal by 2030; and ii)cutting our exposure to thermal coal mining to zero by 2030. in april 2021, we became a founding member of the net zero banking alliance (under the united nations environment programme finance initiative). it sets out to: i) transition operational and attributable greenhouse gas (ghg) emissions from lending and investment portfolios towards pathways to net-zero by mid-century. ii) set intermediate targets for 2030 (or sooner) in respect of priority ghg-emitting sectors. iii) prioritize client engagement with products and services that facilitate their needed transition in the real economy. this report sets out our initial specific decarbonization targets for the power generation sector, measured on ghg, and established in two timeframes, 2025 and 2030

% reductions committed to
Interim Target
(p7) starting with the climate-material sectors in our portfolio, we are committed to aligning our power generation portfolio with the paris agreement goals by 2030. in our finance operations, our two initial decarbonization targets set concerning high emitting activities are: i) ending financial services to power generation customers with over 10% of revenues coming from thermal coal by 2030; and ii)cutting our exposure to thermal coal mining to zero by 2030. in april 2021, we became a founding member of the net zero banking alliance (under the united nations environment programme finance initiative). it sets out to: i) transition operational and attributable greenhouse gas (ghg) emissions from lending and investment portfolios towards pathways to net-zero by mid-century. ii) set intermediate targets for 2030 (or sooner) in respect of priority ghg-emitting sectors. iii) prioritize client engagement with products and services that facilitate their needed transition in the real economy. (p8) reduce our impact on the environment to remain carbon neutral and source electricity from renewable energy by 2025.
Baseline Emissions

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