Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 171

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 171
---
 objectives.

#### Control Activities
Actions established by policies and procedures that help that management instructions are carried out to mitigate identified risks.

#### Information and Communication
Accurate and timely information for decision-making, facilitating the escalation and governance of improvements and incidents.

#### Monitoring activities
Mechanisms and instruments to monitor the correct implementation and effectiveness of the internal control system, promoting a continuous evaluation of the same.

Cross-cutting regulations to embed ESG standards in our business model

Responsible banking framework

Establishes responsible banking as a strategic topic for Grupo Santander and all local units.

Accounting and Financial Reporting, Management and Sustainability information framework

Sets out the principles, directives and guidelines regarding the preparation of accounting, financial and management information that must be applied by all Group subsidiaries as an essential element of proper governance.

Annual report 2024 120

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

Responsible banking and sustainability policy

Sets out our sustainability principles, targets and strategy (including human rights protection) to create long-term stakeholder value.

Responsible banking model

Sets out the roles and responsibilities of the first, second and third line of defence in all responsible banking-related activity to drive our sustainability agenda, embed ESG standards and achieve our goals.

In addition to these regulations, which apply to all the Group’s units and businesses, the following section of this chapter details the regulations that apply specifically to the management of each of the material topics and associated IROs:

• Climate change (see section 2. 'Our climate transition plan' );

• Own workforce (see section 3. 1 'Our employees' );

• Consumers and end users (see section 3.3 'Our customers' );

• Affected communities (see section 3.2 . ' Communities' sustainable development ' ),

• Business conduct (see section 4 . 'Business conduct' ).

All regulations (corporate frameworks, models, policies and procedures) help maintain a high level of governance, and the highest standards in terms of their drafting, approval, and in the monitoring of their local transposition.

The approval of the regulations is responsibility of the Board of Directors or its committees, when the regulated matter falls within their scope of responsibility according to their rules and regulations. Corporate frameworks in all cases must be approved by the board of directors. The regulations approved by the board under this chapter are as follows:

→ Relevant corporate frameworks related to sustainability: