Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 121

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 121
---
 In 2024, Global Finance named us 'Best private bank for Social Responsibility' while Euromoney named us 'Best private bank for Sustainability' in Chile.

| For more details, visit our websitesantanderprivatebanking.com |

3.2.3 Environmental, social and climate change management This section outlines how we manage these IRO:

| I- |     | Finance activities (in any customer segment) that breach of the bank’s policies and jeopardize the well-being of present and future generations.                                                                             |
| I- |     | Potentially negative impact on the environment or society by failing to sufficiently involve stakeholders or use suitable customer identification and management mechanisms when providing finance to a customer or project. |

i. Our ESCC policy Grupo Santander recognises environmental and social issues (E&S) pose some of the biggest challenges for the long-term prosperity of the global economy, the well-being of people and society, and the ability of the natural environment to support life. Santander pledges to help customers and economies in their efforts to transition to a low-carbon economy, by providing financial products and services based on their context and approach to environmentally and socially responsible business operations. This is an ongoing effort — at different rates depending on the market and with several external dependencies such as public policy, technological advances, consumer needs among other factors — requiring continuous engagement with customers in their transition to a low-carbon economy. It is also important that we monitor social issues that may arise, such as the involuntary displacement of local or indigenous populations, the health, safety and human rights of workers, and the impacts of business activities on communities and other stakeholders. To support our fight against climate change, the Group will promote supporting customers navigate the transition to a low-carbon economy.

Grupo Santander: • By 2030, will stop investing in, and/or providing financial services to clients for whom coal fired power generation represents directly more than 10% of revenues on a consolidated basis; • No exposure to thermal coal mining worldwide by 2030; and • Supports international standards and treaties. Santander embeds environmental and social standards in risk management, focusing on priority sectors to support sustainable and inclusive growth and uphold human rights. The Group applies the precautionary principle to the analysis and management of its main ESCC risks. Our ESCC risk management policy (which is reviewed annually) defines the standards for investing in and, providing financial products and services to, companies and customers in oil & gas, power generation and distribution, mining and metals, and soft commodities (