Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 23

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 23
---
 pertinent regulatory requirements and recommendations. • Political parties: we also interact with political parties in their role as policymakers on key topics that affect our sector, broader society and the environment 2 . • Within our sector: we work closely with industry bodies (including the Institute of International Finance, the Association for Financial Markets in Europe and the European Banking Federation) and think tanks. We work together to find common ground on issues such as the implementation of the EU Taxonomy, the framework for sustainability disclosure and reporting, and ongoing efforts to pinpoint and manage climate-related risks. We take part in these debates through consultations, workshops and other channels, and by facilitating the exchange of views between key stakeholders, in events such as the International Banking Conference and other events that Banco Santander organizes every year.

2 In line with our principles of transparency, honesty and impartiality, Grupo Santander may only finance political parties on an exceptional and arm's length basis, and with approval from the Group executive committee. These standards prohibit making monetary or in-kind donations and contributions to elections. Total or partial debt cancellation for political parties and their affiliates is strictly prohibited. While Grupo Santander may negotiate the terms of any political party debt, the interest rate charged must never fall below the market rate.

Annual report 2024 25

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

Main sustainability initiatives where Santander is a member or participant

| Linked to General Sustainability Frameworks and partnerships                                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                              |     | →United Nations Global Compact: We have been part of the Global Compact network since 2022 and a member of the gender equality programme since 2020. We also took part in the 'sustainable suppliers' programme.                                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                              |     | →Santander has been a member of theUnited Nations Environment Programme Finance Initiative(UNEP FI) since 1992 and a founding member of thePrinciples for Responsible Bankingsince its launch in 2019. A Santander representative co-chairs the global management committee and in 2024 took part in a review of the 2030 principles. We are also signatory, through Santander Asset Management and since 2008, in the Principles for Responsible Investment (PRI), which  offer a menu of possible actions for incorporating ESG issues into investment practice. |
|                                                                                                              |     | →World