Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 149

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 149
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economic landscape and public policy.

Investment targets towards environmental objectives

To achieve our net-zero ambition, our main lever as a bank is supporting our customers in their efforts to transition to a low-carbon economy.

As a large financial institution, we have an opportunity to support our customers in their ambition to transition to low carbon business models. To this end, we continue enhancing our sustainable finance and advisory proposition, and financing in our global businesses.

To achieve this, we are:

1. Growing the green finance business, which entails drawing up a green finance strategy for the Group's businesses and delivering a strong value proposition for our customers;

2. Building the infrastructure that will support green finance across the Group. This means implementing the sustainable finance and investment classification system (SFICS); strengthening the controls to assess and manage greenwashing risk; and executing the data strategy to measure and monitor green finance results; and

3. Deploying well-trained commercial teams to capture opportunity.

In CIB (Corporate & Investment Banking), we have already reached EUR 139 billion in green finance raised and facilitated since 2019, achieving our EUR 120 billion target 18 months early and are working towards reaching EUR 220 billion by 2030.

Limits for assessing and addressing environmental risk

Our ESCC risk management policy establishes the standards for investing, and providing financial products and services to companies and customers in oil & 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 and those that require special attention for the aforementioned sectors 7 .

These have been aligned our internal policies of sustainability and human rights, based on the market practices and the meetings with NGOs and other external stakeholders.

In this regard, we also use our ESCC policy to integrate nature and biodiversity conservation measures into financing and investment policies. Below, we summarise some of the limits associated with environmental risk management:

• Any

#### projects or activities
for oil & gas extraction, power generation or transmission, mining, manufacturing, plantations or other major infrastructure projects which put areas classified as Ramsar Sites, World Heritage Sites or by the International Union for Conservation of Nature (IUCN) as categories I, II, III or IV at risk . Additionally, projects that, in accordance with IFC Performance Standard 7 - Indigenous People, require Free, Prior and Informed Consent (FPIC) and do not meet IFC Performance Standard 7 and there is not a credible action plan to achieve compliance. Moreover, we