Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 94

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 94
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. Direct emissions reduction measure                  |     |             600 |     |                                |     |                              |
| Total                                                    |     |           2,200 |     |                         22,000 |     |                       12,000 |

Banco Santander remains offsetting scope 1 and 2 emissions. As part of our voluntary carbon credit market monitoring, every year we carefully analyse and select a list of initiatives, usually in our core markets. We follow a strict carbon credit selection process that includes due diligence and compliance of our environmental policies. Projects are also certified under some of the industry's most well-known standards. Moreover, all the carbon credits we purchased in 2024 were ratified by an independent rating agency to validate their integrity. In 2024, we used 59,858 credits 22 (85% reduction credits and 15% removal credits), to offset our scope 1 and 2 emissions. Other key measures Waste management Since 2021, our offices and buildings in our core markets have been free of single-use plastics to meet the target we set in 2019 . The

Santander Group City and Santander España’s central services buildings have ‘Zero waste’ certification. Employee awareness Santander runs local and global employee awareness campaigns on the importance of reducing consumption and waste. Each subsidiary posts news and feature articles on the environment and the Group’s ESG initiatives on its internal portal. In 2024, we observed Earth Hour for the 15th consecutive year by switching off the lights at the Group’s most emblematic buildings. Scope 3 The assessment we conducted to determine the materiality of indirect GHG emissions (scope 3) found that the only material category under this scope was category 3.15 (financed emissions), with a weighting of 99% of the total. Moreover, the categories listed below are considered material based on their volume, management capacity and, therefore, potential to reduce them. In addition to the scope 3 categories we reported on in recent years (3.6 Business travel and 3.7 Employee commuting), in this document we’re reporting on four more supply chain-related categories 23 for the first time: • 3.1 Purchased goods and services • 3.2 Capital goods • 3.4 Upstream transportation and distribution • 3.9 Downstream transportation and distribution To enhance the quality of these emissions and to draw up actions to reduce them, Santander and Aquanima will work with the key vendors of the leading purchasing