Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 67

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 67
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 created and structured (35.5% of the target for 2025), with a cycle to create more startups under way; and • 22 startups classified and ramped up (22% of the target for 2025), with a new acceleration cycle under way with 45 entrepreneurs. We gathered 15 Santander executives to act as mentors in the Synergy programme to help entrepreneurs in such areas as people management, legal issues, investor access, network building and strategic vision and direction of the company.

| For more details on Santander and the Brazilian Amazon, visit our corporate websitesantander.com. |

Annual report 2024 58

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

2.4 Aiming to align our activity with the Paris Agreement Goals

In this section we cover how Santander manages the following IRO:

| I- |     | Adverse impact on climate and the environment due to the bank’s financing of, or investment in, certain non-sustainable assets and activities. |

We continue working towards our ambition of net zero carbon emissions by 2050 by progressively setting specific actions to support our customers in their climate objectives and to align those climate sectors identified as most material regarding lending, which is our most material financial activity. Regarding our own operations, we disclose our direct and indirect emissions (scopes 1, 2 and 3) data as well as other climate-relevant metrics such as energy consumption. We report on our targets for renewable electricity 17 and the compensation of our scope 1 and scope 2 emissions. Since 2021, we have also been disclosing financed scope 3 emissions (category 15) related to our alignment objectives. We announced our ambition to work to achieve net zero carbon emissions by 2050 in February 2021. We are constantly reviewing our strategy and targets to incorporate the latest science insights and changes in local regulation. We use internal methodologies that take input and recommendations from the NZBA (Net Zero Banking Alliance) guidelines, the PCAF standard, Glasgow Financial Alliance for Net Zero (GFANZ) publications, the Science Based Targets initiative (SBTi) and other references. We also use external data and models from third parties with recognized market reputation and expertise. We rely on financial and non-financial information from our customers. Though the non-financial information required is becoming more available as more companies begin to report GHG emissions, it still