Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 80

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 80
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 from 2021 to 2022 was mainly due to the increase in exposure to less carbon-intensive customers. In 2023, this effect reversed which is the main driver for the increase to 1.38 tCO 2 e/tS. However, we also observed that some clients increased their individual emission intensity.

| Sector |     | Year |     |      |     | Exposure (drawn amount EUR bn) | Absolute emissions (MtCO2e) |     | Physical emissions intensity 
                   (tCO2e/tS) |     | Financial emissions intensity 
         (MtCO2e/ EUR bn lent) |     |     |     | PCAF score | 2030 target |
| Steel  |     | 2019 |     | 1.51 |     |                                |                        2.62 |     |                         1.58 |     |                          1.74 |     | 3.0 |     |            | 1.07        
 tCO2e/tS    |
| 2020   |     | 1.31 |     | 2.14 |     |                                |                        1.40 |     |                         1.63 |     |                           3.1 |     |     |     |            |             |
| 2021   |     | 1.42 |     | 1.90 |     |                                |                        1.36 |     |                         1.33 |     |                           3.1 |     |     |     |            |             |
| 2022   |     | 1.96 |     | 1.88 |     |                                |                        1.24 |     |                         0.96 |     |                           3.1 |     |     |     |            |             |
| 2023   |     | 2.04 |     | 1.84 |     |                                |                        1.38 |     |                         0.90 |     |                           3.3 |     |     |     |            |             |

Automotive sector

The automotive sector is one of the key sectors to tackle in the transition to a low-carbon economy.

According to the IEA, road transport accounts for over 15% of global energy-related emissions. The switch from internal-combustion engines (ICE) to electric vehicles (EV) and plug-in hybrid electric vehicles (PHEV) is the