Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 178

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 178
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 risks are indirectly taken into account in our strategic exercises (e.g. ICAAP) by incorporating social factors such as technology developments, the political framework or market sentiment in the climate scenarios used.

2024 Pillar 3 Disclosures Report 251

| Index |     | Introduction |     | Capital |     | Risks |     | Risk taker's remunerations |     | Appendices |

Some examples of social factors analysed in the ICAAP: projections of gross value added affecting at sector country level in the value of goods and services, productivity, industrials and manufacturing processes; change in demand is also affected under each scenario, as it determines the costs and the profitability of production as well as the demand of consumers and products; technological change applies also to affecting the demand for the sectors due to growth in the low-carbon technologies and market sentiment . Objectives, targets and limits to assess and address social risk This section covers the requirement on qualitative information on social risk, specifically, the point on business strategy and processes, for question (b) We analysed our agenda’s contribution to the SDGs and determined the most relevant goals to Banco Santander’s business and strategy. For more details, see the ´Banco Santander and the SDGs´ brochure on our corporate website. Primarily, the Group has a number of ESG objectives. Among the objectives related to social risk, we find some purposes such as fostering a diverse workforce, contributing to social development through our financing activities, promoting education and entrepreneurship, or ensuring compliance with human rights. In terms of the targets related to these objectives, the targets related to diversity stand out. Therefore, we have progressed towards equality, achieving a greater representation of women in senior positions, from 22.7% in 2019 to 31.2% in 2024. Financial inclusion, a key driver of social progress, is also high on our agenda. In 2024, we financially included nearly 1 million people through access initiatives; and 1.6 million people through finance initiatives.

| People subject to inclusion measuresA |     |        |     | Target |
| +5 mnB                                |     |        |     |        |
| 1.8 mn                                |     | 4.3 mn |     |        |
| 2023                                  |     |   2024 |     |   2025 |

A. Based on internal financial inclusion methodology. Includes the principles, definitions and standards we use consistently across our footprint to count the