Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 28

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 28
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 8% of the variable remuneration received by the Chairwoman and the CEO has been linked to sustainability, while 2% of their total remuneration has been linked to climate actions. The responsible banking, sustainability and cultural committee, remuneration committee, and board of directors approve these ESG incentive schemes. The proposed parameters to assess ESG performance aim to reward progress with our main ESG metrics and embedding ESG in our management, as shown below:

Annual report 2024 30

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

| Inclusive Culture                    |     | Progress with inclusive culture and other initiatives such as accessibility.                                                                |
| Financial inclusion                  |     | Progress with financial inclusion targets and other key initiatives in the social agenda (financial education, community investment, etc.). |
| Sustainable finance                  |     | Progress with sustainable finance and socially responsible investment.                                                                      |
| Climate                              |     | Progress with our transition plan and the key levers to fulfil our net zero ambition.                                                       |
| Governance and cross-cutting matters |     | Conducting our double materiality assessment, implementing sustainability policies, and enhancing data efficiency and quality.              |

1.4.2Human rights due diligence We strive to foster that our operations uphold and protect the human rights of our stakeholders in the countries where we operate. The CSRD requires the findings of human rights due diligence exercises to inform the double materiality assessment. Human rights are integrated into management and governance based on the process type, focusing on monitoring adverse impacts and implementing measures, such as: • looking after our employees’ health and promoting decent employment, the preservation of freedom of association and collective bargaining and the prohibition of slavery and child labour.

| For more details, see section3.1'Our employees' |

• protecting our customers’ human rights through responsible business practices and the protection of their data.

| For more details, see section3.3'Ourcustomers' |

• assessing the human rights impact on transactions with customers through environmental, social and climate change (ESCC) analysis.

| For more details, see section2.'Ourclimatetransitionplan' |

• embedding environmental and social aspects, including human rights, in our supply chain management.

| For more details, see section4.'Business conduct' |

Our board-approved Responsible banking and sustainability policy includes our pledge to uphold human rights. Canal Abierto is a key