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  • Overall approach
    1/10
    • Overarching commitment on deforestation
      0/6
    • Deforestation as a business risk
      0/1
    • Target to reduce emissions in scope 1/2
      Reduce emissions
      Yes
      0/0
      What is the target date for the financial institution to achieve their climate target?: 2050

      Type of climate target: Net-zero emissions

      Is the financial institution's climate target aligned with SBTi?: No
      "Banco Santander is deeply concerned with the climate emergency. Our ambition is to achieve net-zero CO2 emissions group-wide by 2050 in support of the climate change objectives of the Paris Agreement. This applies to the group’s own operations, which have been net zero since 2020, and to all emissions from customers of our lending, advisory and investment services."
      Open source document
    • Clients/holdings must have anti-corruption policy
      0.0/1
    • Collaborative finance sector initiatives
      1/2
      Collaborative initiatives
      Yes, involved in a collaborative finance sector initiative focused on deforestation
      1/2
      In which location?: Brazilian Amazon, Global

      Is a 2025 target date encouraged within the collaborative initiative(s)?: No

      Which initiative?: Febreban, Banking Environment Initiative, Pla Amazonia, Soft Commodities Compact

      Does the financial institution engage ESG data providers on the need for better data on deforestation?: No
      "Working with others to stop deforestation. Santander Brasil participates in three external initiatives that propose solutions to stop deforestation. It is a founder of The Round Table on Responsible Soy (RTRS), and were its first president from 2006 to 2009, during the crucial phase of creating its first sustainability standard. The bank is also a founder and board member of the Brazilian Roundtable on Sustainable Livestock (GTPS, in Portuguese), a multi-stakeholder initiative founded in 2008 to promote better ranching practices in Brazil. The bank is active in the banking association's (Febraban) committee on forestry/agribusiness issues. Committee members exchange experiences with new ways to curb deforestation among bank clients." Banking Environment Initiative, Pla Amazonia, Soft Commodities Compact
      Open source document Open source document Open source document Open source document
    • Nature/people-positive investment
      Nature-positive investment
      No
      0/0
      Is due diligence conducted on these nature- and people- positive activities to ensure they are compliant with the standards of the policy outlined in 1.1?: No
  • Commodity score
    17/90
    • Beef & Leather
      23/90
      • Policy Strength
        12/28
        • Commodity-specific deforestation financing policy
          6.5/8.8
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: No
            "We continue to fght deforestation and its damage to climate and biodiversity (especially in the Amazon). Thus we expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit."
            Open source document
          • Policy applies to all operations and financing
            No
            0/0.2
            Policy applies to all operations and financing
            No
            0/0.2
            "We continue to fght deforestation and its damage to climate and biodiversity (especially in the Amazon). Thus we expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit."
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "We continue to fght deforestation and its damage to climate and biodiversity (especially in the Amazon). Thus we expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit."
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "We continue to fght deforestation and its damage to climate and biodiversity (especially in the Amazon). Thus we expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "We continue to fght deforestation and its damage to climate and biodiversity (especially in the Amazon). Thus we expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit."
            Open source document
        • Clients/holdings must be legally operated
          0/2.8
          • Commitment details
            No commitment
            0/2
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must monitor operations
          2/3.8
          • Commitment details
            Yes, a traceability system - Require
            1.5/3
            Commitment details
            Yes, a traceability system - Require
            1.5/3
            What type of assurance mechanism is used?: Traceability system
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025 "
            Open source document Open source document
          • Policy applies to all operations and financing
            No
            0/0.2
            Policy applies to all operations and financing
            No
            0/0.2
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025 "
            Open source document Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025 "
            Open source document Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025 "
            Open source document Open source document
          • Policy applies to all stages of the supply chain
            Processors
            0/0.2
            Policy applies to all stages of the supply chain
            Processors
            0/0.2
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025 "
            Open source document Open source document
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.7/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the deadline for the portfolio companies to become compliant with the policy?: NA

            What is the length of time the portfolio companies are given to meet their time-bound plans?: NA

            What is the target date for the full implementation of the financial institution's policy?: 2025
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit"[...]"Prohibited activities Santander Group will not provide financial products and/or services to any of the following activities: [...] • Projects or activities located in 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"
            Open source document Open source document Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit"[...]"Prohibited activities Santander Group will not provide financial products and/or services to any of the following activities: [...] • Projects or activities located in 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"
            Open source document Open source document Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit"[...]"Prohibited activities Santander Group will not provide financial products and/or services to any of the following activities: [...] • Projects or activities located in 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"
            Open source document Open source document Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit"[...]"Prohibited activities Santander Group will not provide financial products and/or services to any of the following activities: [...] • Projects or activities located in 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"
            Open source document Open source document Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "The Plano Amazônia prioritizes eliminating deforestation from the beef value chain, understanding the land ownership issue and promoting the cultivation of local crops...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025...Looking ahead we will expect beef processing clients in the Amazon to have a fully traceable supply chain that is deforestation-free by 2025, including indirect suppliers of cattle, as a prerequisite for granting credit"[...]"Prohibited activities Santander Group will not provide financial products and/or services to any of the following activities: [...] • Projects or activities located in 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"
            Open source document Open source document Open source document
      • Associated Human Rights Abuses
        0/27
        • Clients/holdings must test Free, Prior and Informed Consent
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must have a grievance mechanism
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        11/35
        • Assess client/holding exposure prior to onboarding
          No
          0/5
          Assess client/holding exposure prior to onboarding
          No
          0/5
          Does the financial institution publish the risk assessment framework/tool used?: No

          Does the financial institution publish the outcome of the risk assessment?: No
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "This policy will come into force on the date it is published. Its contents will be reviewed on a regular basis, and any changes or modifications considered appropriate will be made."
          Open source document
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Does the financial institution assess the severity of any non-compliance on the ground in forest-risk commodity supply chains in line with the guidance of the Accountability Framework?: No

          Does the financial institution prioritise clients/holdings for engagement based on their compliance monitoring? If yes, do they use thresholds/cut offs to identify these clients/holdings?: NA
          "Santander’s global ESCC (Environmental, Social & Climate Change Risk Management) policy applies to our activities in financing clients with operations in the Amazon...Supply chain. A key part of the analysis of agribusiness clients in the Amazon is a thorough check of their supply chain. For this, Santander uses internet-based tools such as Trase and government data on fines or audits, as well as news reports. If the bank discovers problems, it questions clients on their practices and specific incidents. If material breaches of environmental law and regulations are identified, under the terms of our standard contract the bank has power to take remedial action including, where applicable, declaring the early maturity of the debt and demanding its payment. Specifically, regarding reviews of beef producers, over the past years Santander has closely followed the implementation of their practices regarding their suppliers. The E&S Risk analysts hold calls with them at least once a year to discuss their progress. "
          Open source document
        • Engagement with non-compliant clients/holdings
          Engage with non-compliant companies, without a time-bound threat of redirection of finance
          2.5/5
          Engagement with non-compliant clients/holdings
          Engage with non-compliant companies, without a time-bound threat of redirection of finance
          2.5/5
          Does the financial institution engage with the client/holding to support the remediation of any social or environmental non-compliance on the ground?: No

          Does the financial instution engage with the company to develop a time-bound plan for compliance with the policy?: No

          Does the financial institutions have clear thresholds of non-compliance or thresholds of exposure to deforestation risk that trigger engagement processes for clients/holdings?: No

          Does the financial institution commit to actively monitor clients/holdings' progress towards their time-bound plans and remediation activities?: No
          "Santander’s global ESCC (Environmental, Social & Climate Change Risk Management) policy applies to our activities in financing clients with operations in the Amazon...Supply chain. A key part of the analysis of agribusiness clients in the Amazon is a thorough check of their supply chain. For this, Santander uses internet-based tools such as Trase and government data on fines or audits, as well as news reports. If the bank discovers problems, it questions clients on their practices and specific incidents. If material breaches of environmental law and regulations are identified, under the terms of our standard contract the bank has power to take remedial action including, where applicable, declaring the early maturity of the debt and demanding its payment. Specifically, regarding reviews of beef producers, over the past years Santander has closely followed the implementation of their practices regarding their suppliers. The E&S Risk analysts hold calls with them at least once a year to discuss their progress. "
          Open source document
        • Engagement with non-compliant companies
          0/0
          Engagement with non-compliant companies
          0/0
          Does the financial institution engage with NGOs/CSOs/IPLCs/rightsholders on the ground as part of their engagement?: No
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          Yes
          2/2
          Publicly accessible grievance mechanism
          Yes
          2/2
          Does the financial institution report/publish any of the grievances made against it and/or its clients/holdings in the past 12 months?: No

          What does the grievance mechanism cover?: Deforestation/conversion; Associated human rights
          "Complaint HotlineFor any complaint, please call the Swap Dealer Complaint Hotline at (+1) 212-350-3654Or by email at: clientservice@gruposantander.com and swapdealercompliance@gruposantander.comOr at the address below:Client Services Banco Santander, S.A.Ciudad Grupo SantanderEdificio Dehesa P2Avda. De Cantabria. s/n28660 Boadilla del MonteMadridSpain"
          Open source document
        • Remediation of environmental or social harms
          No
          0/4
    • Palm oil
      19/90
      • Policy Strength
        11/28
        • Commodity-specific deforestation financing policy
          4.7/8.8
          • Commitment details
            Certification
            4/8
            Commitment details
            Certification
            4/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: No
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras Peru The High-Risk Geographies will be reviewed in light of expansion of agribusiness in new regions."
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras Peru... The High-Risk Geographies will be reviewed in light of expansion of agribusiness in new regions."
            Open source document
        • Clients/holdings must be legally operated
          0/2.8
          • Commitment details
            No commitment
            0/2
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must monitor operations
          2.2/3.8
          • Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            What type of assurance mechanism is used?: Assurance mechanism
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO"
            Open source document
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.7/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the deadline for the portfolio companies to become compliant with the policy?: NA

            What is the length of time the portfolio companies are given to meet their time-bound plans?: NA

            What is the target date for the full implementation of the financial institution's policy?: Na
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras"
            Open source document
      • Associated Human Rights Abuses
        0/27
        • Clients/holdings must test Free, Prior and Informed Consent
          0/3.8
          • Commitment details
            No commitment
            0/3
            Commitment details
            No commitment
            0/3
            Does the financial institution require the client/holding to cease acquisition/expansion unless FPIC is given?: No
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must have a grievance mechanism
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
            Commitment details
            No commitment
            0/3
            Does the financial institution ask the client/holding to protect the health and safety of its own operations or its supply chain workers?: No
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        8/35
        • Assess client/holding exposure prior to onboarding
          Yes, for human rights abuse risk; Yes, for deforestation/conversion risk
          5/5
          Assess client/holding exposure prior to onboarding
          Yes, for human rights abuse risk; Yes, for deforestation/conversion risk
          5/5
          Does the financial institution publish the risk assessment framework/tool used?: Yes

          Does the financial institution publish the outcome of the risk assessment?: No
          "Santander sets out criteria for the identification, assessment, monitoring and management of E&S risks and other climate change related activities, [...] arising from businesses engaged in soft commodities [...] Assessments of the relevant environmental social and climate change risk impacts should be considered as part of the decision-making process. This assessment shall be more detailed when directly providing financial products and/or services to the special attention activities from [...] soft commodities sectors (particular attention will also be given to agriculture and ranching financing for retail clients in the Amazon biome). Furthermore, Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: • Any projects or activities located in 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. [...] ." ; "When establishing this policy, Santander is committed to follow best practices, international standards, treaties and references including: [...] The Soft Commodities Compact developed by the Banking Environment Initiative. : Palm oil processors that are not certified to RSPO...Developments in forested peatlands in High-Risk Geographies9 . High Risk Geographies inc. Malaysia Indonesia Colombia Ecuador Guatemala Honduras Peru... The High-Risk Geographies will be reviewed in light of expansion of agribusiness in new regions."
          Open source document
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "This policy was approved in February 2022, including the Bank’s ambition to become net zero carbon emissions by 2050; regarding oil upstream clients, new prohibitions for new clients and direct financing to greenfield projects; particular attention to potential deforestation risk with agribusiness clients in the Amazon biome. This policy will come into force on the date it is published. Its contents will be reviewed on a regular basis, and any changes or modifications considered appropriate will be made."
          Open source document
        • Monitoring and non-compliance process
          No
          0/5
          Monitoring and non-compliance process
          No
          0/5
          Does the financial institution assess the severity of any non-compliance on the ground in forest-risk commodity supply chains in line with the guidance of the Accountability Framework?: No
        • Engagement with non-compliant companies
          0/0
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          Yes
          2/2
          Publicly accessible grievance mechanism
          Yes
          2/2
          Does the financial institution report/publish any of the grievances made against it and/or its clients/holdings in the past 12 months?: No

          What does the grievance mechanism cover?: Deforestation/conversion; Associated human rights
          "Complaint HotlineFor any complaint, please call the Swap Dealer Complaint Hotline at (+1) 212-350-3654Or by email at: clientservice@gruposantander.com and swapdealercompliance@gruposantander.comOr at the address below:Client Services Banco Santander, S.A.Ciudad Grupo SantanderEdificio Dehesa P2Avda. De Cantabria. s/n28660 Boadilla del MonteMadridSpain"
          Open source document
        • Remediation of environmental or social harms
          No
          0/4
    • Soy
      12/90
      • Policy Strength
        9/28
        • Commodity-specific deforestation financing policy
          4.7/8.8
          • Commitment details
            Protects priority forests
            4/8
            Commitment details
            Protects priority forests
            4/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: No
            "When investing in, and/or providing financial products and/or services, Santander Group will pay particular attention to10 the environmental, social and climate change risks arising from the following activities: Soft commodities: • Industrial processes in High-Risk Geographies with an environmental impact on nearby 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." The same document defines 'soft commodities' as "production and wholesale distribution of... soy"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "When investing in, and/or providing financial products and/or services, Santander Group will pay particular attention to10 the environmental, social and climate change risks arising from the following activities: Soft commodities: • Industrial processes in High-Risk Geographies with an environmental impact on nearby 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." The same document defines 'soft commodities' as "production and wholesale distribution of... soy"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "When investing in, and/or providing financial products and/or services, Santander Group will pay particular attention to10 the environmental, social and climate change risks arising from the following activities: Soft commodities: • Industrial processes in High-Risk Geographies with an environmental impact on nearby 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." The same document defines 'soft commodities' as "production and wholesale distribution of... soy"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "When investing in, and/or providing financial products and/or services, Santander Group will pay particular attention to10 the environmental, social and climate change risks arising from the following activities: Soft commodities: • Industrial processes in High-Risk Geographies with an environmental impact on nearby 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." The same document defines 'soft commodities' as "production and wholesale distribution of... soy"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders
            0.1/0.2
            "When investing in, and/or providing financial products and/or services, Santander Group will pay particular attention to10 the environmental, social and climate change risks arising from the following activities: Soft commodities: • Industrial processes in High-Risk Geographies with an environmental impact on nearby 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." The same document defines 'soft commodities' as "production and wholesale distribution of... soy"
            Open source document
        • Clients/holdings must be legally operated
          0/2.8
          • Commitment details
            No commitment
            0/2
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must monitor operations
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.7/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the deadline for the portfolio companies to become compliant with the policy?: NA

            What is the target date for the full implementation of the financial institution's policy?: NA

            What is the length of time the portfolio companies are given to meet their time-bound plans?: NA
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: • Any plantations or other major infrastructure projects located in areas classified as Ramsar Sites4 , World Heritage Sites or by the International Union for Conservation of Nature5 (IUCN) as categories I, II, III or IV."
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: • Any plantations or other major infrastructure projects located in areas classified as Ramsar Sites4 , World Heritage Sites or by the International Union for Conservation of Nature5 (IUCN) as categories I, II, III or IV."
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: • Any plantations or other major infrastructure projects located in areas classified as Ramsar Sites4 , World Heritage Sites or by the International Union for Conservation of Nature5 (IUCN) as categories I, II, III or IV."
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: • Any plantations or other major infrastructure projects located in areas classified as Ramsar Sites4 , World Heritage Sites or by the International Union for Conservation of Nature5 (IUCN) as categories I, II, III or IV."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.1/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: • Any plantations or other major infrastructure projects located in areas classified as Ramsar Sites4 , World Heritage Sites or by the International Union for Conservation of Nature5 (IUCN) as categories I, II, III or IV."
            Open source document
      • Associated Human Rights Abuses
        0/27
        • Clients/holdings must test Free, Prior and Informed Consent
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must have a grievance mechanism
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
            Commitment details
            No commitment
            0/3
            Does the financial institution ask the client/holding to protect the health and safety of its own operations or its supply chain workers?: No
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        3/35
        • Assess client/holding exposure prior to onboarding
          No
          0/5
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "This policy was approved in February 2022, including the Bank’s ambition to become net zero carbon emissions by 2050; regarding oil upstream clients, new prohibitions for new clients and direct financing to greenfield projects; particular attention to potential deforestation risk with agribusiness clients in the Amazon biome. This policy will come into force on the date it is published. Its contents will be reviewed on a regular basis, and any changes or modifications considered appropriate will be made."
          Open source document
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          Yes
          2/2
          Publicly accessible grievance mechanism
          Yes
          2/2
          Does the financial institution report/publish any of the grievances made against it and/or its clients/holdings in the past 12 months?: No

          What does the grievance mechanism cover?: Deforestation/conversion; Associated human rights
          "Complaint HotlineFor any complaint, please call the Swap Dealer Complaint Hotline at (+1) 212-350-3654Or by email at: clientservice@gruposantander.com and swapdealercompliance@gruposantander.comOr at the address below:Client Services Banco Santander, S.A.Ciudad Grupo SantanderEdificio Dehesa P2Avda. De Cantabria. s/n28660 Boadilla del MonteMadridSpain"
          Open source document
        • Remediation of environmental or social harms
          No
          0/4
    • Timber, Pulp & Paper
      17/90
      • Policy Strength
        11/28
        • Commodity-specific deforestation financing policy
          4.8/8.8
          • Commitment details
            Certification
            4/8
            Commitment details
            Certification
            4/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: No
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
        • Clients/holdings must be legally operated
          0/2.8
          • Commitment details
            No commitment
            0/2
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must monitor operations
          2.3/3.8
          • Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            Commitment details
            Yes, a mechanism to monitor compliance - Require
            1.5/3
            What type of assurance mechanism is used?: Assurance mechanism
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the deadline for the portfolio companies to become compliant with the policy?: NA

            What is the length of time the portfolio companies are given to meet their time-bound plans?: NA

            What is the target date for the full implementation of the financial institution's policy?: NA
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: Extraction of native tropical wood species not certified to FSC. Developments in forested peatlands in High-Risk Geographies9"
            Open source document
      • Associated Human Rights Abuses
        0/27
        • Clients/holdings must test Free, Prior and Informed Consent
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must have a grievance mechanism
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        6/35
        • Assess client/holding exposure prior to onboarding
          Yes, for deforestation/conversion risk
          2.5/5
          Assess client/holding exposure prior to onboarding
          Yes, for deforestation/conversion risk
          2.5/5
          Does the financial institution publish the risk assessment framework/tool used?: No

          Does the financial institution publish the outcome of the risk assessment?: No
          " "Santander sets out criteria for the identification, assessment, monitoring and management of E&S risks and other climate change related activities, [...] arising from businesses engaged in soft commodities [...] Assessments of the relevant environmental social and climate change risk impacts should be considered as part of the decision-making process. This assessment shall be more detailed when directly providing financial products and/or services to the special attention activities from [...] soft commodities sectors (particular attention will also be given to agriculture and ranching financing for retail clients in the Amazon biome). Furthermore, Santander Group will not directly invest in and/or provide financial products and/or services to the following activities in any client segment: • Any projects or activities located in 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. [...] ." ; "When establishing this policy, Santander is committed to follow best practices, international standards, treaties and references including: [...] The Soft Commodities Compact developed by the Banking Environment Initiative. Extraction of native tropical wood species not certified to FSC."
          Open source document
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          Policy is reviewed and updated
          Timeline for review unclear or review conducted less frequently than annually
          1/2
          "This policy was approved in February 2022, including the Bank’s ambition to become net zero carbon emissions by 2050; regarding oil upstream clients, new prohibitions for new clients and direct financing to greenfield projects; particular attention to potential deforestation risk with agribusiness clients in the Amazon biome. This policy will come into force on the date it is published. Its contents will be reviewed on a regular basis, and any changes or modifications considered appropriate will be made."
          Open source document
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          Yes
          2/2
          Publicly accessible grievance mechanism
          Yes
          2/2
          What does the grievance mechanism cover?: Deforestation/conversion; Associated human rights

          Does the financial institution report/publish any of the grievances made against it and/or its clients/holdings in the past 12 months?: No
          "Complaint HotlineFor any complaint, please call the Swap Dealer Complaint Hotline at (+1) 212-350-3654Or by email at: clientservice@gruposantander.com and swapdealercompliance@gruposantander.comOr at the address below:Client Services Banco Santander, S.A.Ciudad Grupo SantanderEdificio Dehesa P2Avda. De Cantabria. s/n28660 Boadilla del MonteMadridSpain"
          Open source document
        • Remediation of environmental or social harms
          No
          0/4
  • Commitment strength
    11/28
    Avg. score
  • Implementation and Reporting
    7/35
    Avg. score
  • Associated Human Rights Abuses
    0/27
    Avg. score

Profile

Santander are a bank headquartered in Spain serving private, corporate and institutional clients. Their services include asset management, corporate finance, securities, insurance and retail banking services. As of 2021, Santander's total assets amount to more than 1.5 trillion EUR, with more than 916 billion EUR in net customer loans. Santander are among the top lenders to Forest 500 companies, with loans across a broad range of forest risk commodities. In the 2022 selection, Santander was providing 40 billion USD to the Forest 500 companies.

HQ
HQ 
Spain
Financial institution type
Financial institution type 
FI

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Full finance sector performance data Forest 500 assessment methodology

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Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.