Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 191

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 191
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 for workers or impact on communities, with respect to its own operations and its supply chain.

• Our ESCC risk management policy sets establishes the standards for investing, and providing financial products and services to companies and customers in oil and gas, power generation and distribution, mining and metals, and soft commodities (especially retail customers dedicated to farming and livestock in the Amazon). It dictates prohibited activities, including those activities linked to the commission of serious violations of human rights or international human rights law, and those that require special attention for the aforementioned sectors.

• A financial manager completes a questionnaire before a team of analysts conducts an overall assessment of the client's ESCC risks in the applicable sectors 19 .

• The ESCC risk and compliance departments delve deeper into cases that uncover red flags. The findings of the analysis (and its impact on credit and other risks) are escalated to the bank’s risk approval committees and are considered in decision-making process.

Regarding this last point, the objective of this criterion is to add a social component to the environmental dimension, so that potentially green financing to clients must also be aligned with:

◦ OECD Guidelines for Multinational Enterprises

◦ ILO Declaration on Fundamental Principles and Rights at Work

◦ Universal Declaration of Human Rights

◦ The Convention on the Rights of the Child

• As stated in our ESCC risk management policy, we enhance responsible investments that align with our sustainability goals and support the Paris Agreement Goals. Therefore, will not directly invest in, or provide financial products and services to projects that fail to meet our social responsibility standards, including projects requiring Free, Prior and Informed Consent (FPIC) under IFC Performance Standard 7 - Indigenous Peoples. Such projects must demonstrate adherence to IFC Performance Standard 7 and have a credible plan to achieve compliance.

Moreover, we conduct a detailed analysis on CIB clients that operate in sectors subject to the ESCC policy, including any activity that entails the resettlement of indigenous populations and/or other vulnerable groups.

Additionally, in the process of qualitative assessment of social risks of clients and/or projects in SCIB's portfolio, compliance with the Equator Principles and other factors such as the availability of internal policies for the protection of human rights, labour rights, protection of communities where the client and its suppliers operate, among others, are assessed.

• We continued to implement our anti-bribery and corruption (ABC) programme, which is also subject to constant review and update in line with the rest of our policies. In 2024, we continued to enhance our awareness strategy