climate change represents one of the great challenges of our time. Time is of the essence and the future of the next generations passes by to take immediate action to stop global warming, as has been evident in the recent United Nations Conference on Climate Change (COP25), held in Madrid.
each and every one of the economic sectors and industrial area of the planet should be providing solutions for moving towards a low-carbon economy. Also the financial sector plays a very important role in ensuring an orderly transition towards a green economy.
An example is the commitment of Banco Santander, involved since years in the protection of the environment and the fight against climate change. The Spanish company has been one of the main sponsors of the COP25 and has participated very actively in this summit, which has brought together 25,000 people from 200 countries.
The president of Santander, Ana Botín, has been involved in several round table discussions in which he has talked about the new leadership in the climate and has provided clues about how to mobilize private investment to finance the Paris Agreement, reached in 2015. In addition, the bank has organized a number of conferences which have addressed, among other issues, the sustainable investment and the leadership of the future. Also, the Sustainability experts of Santander have also been invited to several tables or panels international. All with one goal: to reach agreements and commitments among nations and the private sector that allow to combat the effects of climate change, and to put in place as soon as possible the measures adopted at the Paris Conference.
In this scenario, the bank has announced a commitment to be carbon neutral by 2020 by offsetting all the emissions generated in its daily activity. The entity, which has 200,000 employees in 10 major markets in Europe and America has reduced its emissions and its consumption of electricity 27% and 15%, respectively, between 2011 and 2018.
In this same line, Santander has committed to make all its electricity supply to come from renewable energies, to the extent possible, in 2025. With this and other actions, the bank intends to reduce its emissions in a 46% increase from 2019 to 2025. “We are one of the leaders in financing renewable energy in the world and we are to exercise our role in the fight against climate change. This commitment announced is an important step. We can only address the challenge of climate change by working together with greater pace and determination,” insists Ana Botín.
ten commitments responsible
responsible for up to 2025. “We have to support the inclusive and sustainable growth around the world for businesses to create employment, facilitate financial inclusion and combating climate change”, said Ana Botín.
Between these objectives highlights the financial inclusion of 10 million people, to achieve that 100% of the energy used by the bank come from renewable sources or have at least 30% of women in management positions. But there is more. To help their customers make the transition towards a free economy, emissions, Santander announced that it will facilitate the mobilization of 220,000 million between 2019 and 2030 in green finance to contribute to addressing climate change.
In fact, the bank is already one of the leading institutions in the financing of renewables, and their goal is to maintain its position of international leadership. For this, the institution helps to fund numerous infrastructure, clean energy, in addition to new technologies in the agricultural and productive more efficient and sustainable. In 2018, Santander financed projects renewable energy with a generating capacity equivalent to the consumption of 5.7 million households. In line with this objective, the Spanish entity has recently issued a green bond of 1,000 million euros. These funds will be invested in initiatives of clean energy (wind and solar).
Renewable all over the world
The total investment of project funding (project finance) of renewable Banco Santander at the end of last year was 9,800 million euros, approximately half of its entire portfolio. The bank participates in 360 projects of clean energies, of which 170 are farms and 145, solar. 65% of the financing is in Europe, and the rest, in America.Nadia Calviño, minister of Economy and Business, Werner Hoyer, president of the European Investment Bank, Axel van Trotsenburg, director of operations of the World Bank and Ana Botín, chairwoman of Banco Santander during the COP25.
it Also works with numerous NGOS and, indirectly, with their products for responsible investment, to support initiatives with a social impact that help to people at risk of exclusion. This is one of the actions of Santander relating to the Socially Responsible Investment (SRI), which presents several lines of action. Among them, the bank organises and participates in meetings and training sessions focused on the ISR, and manages nine funds ISR, a few products that combine financial criteria with criteria extrafinancieros to select the assets where the capital is invested.
Through the issuance of bonds, green bonds and social bonds sustainable, Santander promotes and encourages the protection of the environment thanks to the funding of energy efficiency initiatives; electric vehicles, hybrid and low CO2 emissions; infrastructure related to the integral water cycle and the integrated management of waste; products and services linked to sustainable construction, which seeks to ensure the energy efficiency and reduce the environmental footprint; insurance specific to the agriculture and livestock —in the face of climatic adversities and other natural hazards, and specific products and services for agriculture and livestock.
In Brazil, for example, Santander has been involved with several organizations in order to provide soybean farmers long-term loans to expand production without deforestation the natural habitat in the region of The Cerrado. And in Spain, Santander has launched App Agro. By using this application, offers to the farmers of the latest breaking news, related to public subsidies, information about agricultural products and prices of crops. With 30,000 downloads and 11,000 users actthe aim, in 2018 was chosen as the best app of the agrarian sector in the Spanish financialUpdated Date: 25 December 2019, 21:00