Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 118

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 118
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 December 2024, SAM held EUR 63.5 billion in SRI assets (32% year on year) spread across eight countries. This accounts for 26.9% of SAM's total AuM and contributes towards Wealth’s objective of EUR 100 billion in SRI AuM by 2025. In 2024, we continued to broaden our SRI product and service range, with a focus on the transformation of pension plans in Spain and Portugal under Article 8 of the SFDR. We also launched new products such as Santander GO Global Environmental Solutions and Santander Target Maturity III. We enhanced our voting and engagement policy and methodology for non-EU asset managers. In 2024, we continued to focus on engaging with portfolio companies in high emitting sectors. As in previous years, we took part in the ‘Global Investor Statement to Governments on the Climate Crisis’ initiative. SAM’s governance backs the execution of its SRI strategy. It follows environmental (including climate change), social and corporate governance (ESG) standards and is organized around i) an SRI strategy and oversight forum; ii) a voting and engagement forum; and iii) an investment and sustainability forum led by our global team of SRI experts. At the highest level is the ESG Wealth Management & Insurance forum, chaired by the Global Head of Wealth; it discusses, oversees and monitors the global SRI strategy and the SAM, Private Banking and Insurance KPI. SAM's ESG policies and relationship with the Group’s sustainability documents

| Other Group policies:                                            
 •Defence policy                                                  
 •Environmental, social and climate change risk management policy |     |                |     | Grupo Santander Responsible banking and sustainability policy |     |                       |
|                                                                  |     | SAM SRI policy |     |                                                               |     |                       |
|                                                                  |     |                |     | SAM Voting policy                                             |     | SAM Engagement policy |

|                                 |     | Grupo Santander Conflict of interest policy |
| SAM Conflict of interest policy |     |                                             |

SAM has a global, multidisciplinary team of SRI experts that develops and implements our ESG methodology, engagement and voting activity and SRI policies, among other tasks. There is also a local network of ESG experts for each of the markets where we operate. Moreover, we have a network of experts who are key to embedding sustainability in our investment and reporting both globally and locally.

| For more details on our ESG approach in SAM, seesantanderassetmanagement.com/sustainability.