Grupo Santander is a banking group centered on BancoSantander, the largest bank in the euro area, which originated in Santander,Cantabria, Spain. Santander focuses activities on Continental Europe. (Santander, Banesto, Santander Totta, Santander Consumer Finance), United Kingdom (Alliance & Leicester and Bradford & Bingley's) and Latin America under its own brand and following the integration of Banco Real.
The CDP impels organisations to record their carbon footprint in daily activities. Encouraging enterprises to calculate and disclose their carbon impact, this initiative highlights the challenge for financial institutions to determine exactly how much carbon output can be attributed to financing.
Voluntary framework to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance & re-insurance; corporate banking; investment banking & markets; project finance.
The EPs are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to asesses and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
The verification and full publication of company payments and government revenues from oil, gas and mining is supported by the EITI. Financial institutions can participate and encourage resource-rich countries to support the initiative that aims to defeat poverty, corruption and conflict caused by weak transparency and accountability.
As the name suggests, the GRI aims to standardise good practice in transparency. GRI provides companies with guidelines to organise their annual report with reporting indices and standards addressing environmental, social and economic issues that business ought to address when telling the world about its performance.
The UN Global Compact is a set of ten principles that companies may sign voluntarily. Signatories promise to avoid complicity in human rights violations, adhere to labour standards, protect the environment and avoid corruption. The G8 countries urge companies to participate in this initiative, and with over 2900 companies signing up, the Global Compact has momentum. A voluntary and network based framework, the Global Compact actively promotes peer review and stakeholder participation.
UNEP is the 'voice of the environment' for the United Nations system, promoting international cooperation in the field of the environment. Issues concerning the financial community are addressed by the UNEP Finance Initiative which promotes investment in clean and renewable energy by financial institutions and other investors. Financial insititutions wishing to join must sign one of two Statements (for financial institutions and a separate one for the insurance industry).
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. Voluntary and aspirational in nature, UNPRI has since its inception in 2006 attracted 200 signatories, representing US$8 trillion worth of investments.
Since the turn of the century a group of twelve banks known as the Wolfsberg Group have collaborated to improve ethical standards. The principles provide guidance on money laundering, corruption and the financing of terrorism. They have been produced to address deficiencies in areas 'yet to be fully articulated by lawmakers or regulators'.
Santander has also developed additional sustainability policies. You can find them below, or under 'documents' in the menu.
sustainability policies of Santander
2010 sector and issue policies
General BankTrack comments on policies Santander
Santander's Social
and Environmental Policy include requirements for project finance on issues
like: biodiversity conservation and sustainable management of natural resources,
labour standards, prevention of contamination and the emission of hazardous
waste, community health and safety, land acquisition and voluntary resettlement,
indigenous villages and cultural heritage. The Group pays special attention to
the social and environmental risks of the sectors: agriculture, fishing,
livestock and forestry, infrastructure, tourist developments, energy (dams,
renewable energies, gas, oil), aquifers (desalting plants, wastewater treatment
plants), games and betting, and weapons. Apart from some exclusion criteria
there are no specific requirements for companies and the policy seems to apply
to project finance only. As such it is a repetition of the Equator Principles
and the document cannot be accredited additional points were it is already
granted points for signing these or other collective policies. Because this
policy also mentions agriculture, fishing, forestry and military industry it
will be accredited one point on these sectors too.
bank feedback:
A part from the Bank’s adherence to internationally recognised initiatives (such as EP, UNGC, UNEP FI, CDP, GRI and WP), the Bank has its own regulations contained in its social and environmental policy that is publicly available at the Bank’s website. This policy includes most of the issues that have been analysed by Banktrack. In addition, Banco Santander has developed specific policies that establish the criteria to be used in banking activities relating to Defence, Energy, Forestry and Water sectors, and that consider their social and environmental impact and relevance in the countries in which the Bank operates. These policies describe the procedure in detailed that is followed by the Bank in order to detect and, in such case, to prevent, reduce or mitigate the social and environmental risks.
For more and detailed information about this sector, have a look at the agriculture sector page
scoring method
The bank is active in this sector but has no investment policy for this sector;
The bank: has
only adopted or signed onto a voluntary standard or initiative (relevant for
this sector); or has
developed its own policy, but it is vaguely worded without clear commitments;
The bank has developed its own policy, that includes at least half of the essential elements;
The bank has
developed its own policy and: this
includes the essential elements in its lending and investment banking; or
this
includes the essential elements in its asset management;
The bank has
developed its own policy and: this
includes the essential elements in its lending and investment banking as well
as its asset management; or
this
includes both the essential and additional elements in its lending and
investment banking; or this
includes both the essential and additional elements in its asset management;
The
bank has developed its own policy and this includes both the essential and
additional elements in its lending and investment banking as well as its asset
management
When
the bank does not have an integrated agriculture policy but has policies on
individual commodities, we will assess these policies individually and score
them as a whole as described above. It is important for the specific commodity
policies that they follow the commodity specific international standards listed under 'best practice' at the agriculture sector page and include at least the essential elements described.
For more and detailed information about this sector, please have a look at the arms trade sector page
scoring method
The bank is active in this sector but has no investment policy for this sector;
The bank: has only adopted or signed onto a voluntary standard or initiative relevant for this sector; or has developed its own policy, but it is vaguely worded without clear commitments;
The bank has developed its own policy, that includes at least half of the essential elements;
The bank has developed its own policy and this includes the essential elements in its lending and investment banking; orthis includes the essential elements in its asset management
The bank has developed its own policy and this includes the essential elements in its lending and investment banking as well as its asset management; or this includes both the essential and additional elements in its lending and investment banking; or this includes both the essential and additional elements in its asset management;
The bank has developed its own policy and this includes both the essential and additional elements in its lending and investment banking as well as its asset management.
The bank is active in this sector but has no investment policy for this sector;
The bank: has only adopted or signed onto a voluntary standard or initiative relevant for this sector; or has developed its own policy, but it is vaguely worded without clear commitments;
The bank has developed its own policy, that includes at least half of the essential elements;
The bank has developed its own policy and this includes the essential elements in its lending and investment banking;or this includes the essential elements in its asset management
The bank has developed its own policy and this includes the essential elements in its lending and investment banking as well as its asset management; or this includes both the essential and additional elements in its lending and investment banking; or this includes both the essential and additional elements in its asset management;
The
bank has developed its own policy and this includes both the essential
and additional elements in its lending and investment banking as well
as its asset management.
For more and detailed information, please have a look at the forestry sector page
scoring method
The bank is active in this sector but has no investment policy for this sector;
The bank: has only adopted or signed onto a voluntary standard or initiative relevant for this sector; or has developed its own policy, but it is vaguely worded without clear commitments;
The bank has developed its own policy, that includes at least half of the essential elements;
The bank has developed its own policy and this includes the essential elements in its lending and investment banking; orthis includes the essential elements in its asset management
The bank has developed its own policy and this includes the essential elements in its lending and investment banking as well as its asset management; or this includes both the essential and additional elements in its lending and investment banking; or this includes both the essential and additional elements in its asset management;
The bank has developed its own policy and this includes both the essential and additional elements in its lending and investment banking as well as its asset management.
For more and detailed information about this, please have a look at the mining sector page
scoring method
The bank is active in this sector but has no investment policy for this sector;
The bank: has only adopted or signed onto a voluntary standard or initiative relevant for this sector; or has developed its own policy, but it is vaguely worded without clear commitments;
The bank has developed its own policy, that includes at least half of the essential elements;
The bank has developed its own policy and this includes the essential elements in its lending and investment banking; orthis includes the essential elements in its asset management
The bank has developed its own policy and this includes the essential elements in its lending and investment banking as well as its asset management; or this includes both the essential and additional elements in its lending and investment banking; or this includes both the essential and additional elements in its asset management;
The bank has developed its own policy and this includes both the essential and additional elements in its lending and investment banking as well as its asset management.
additional information
This score is based on the fact that the bank has adopted the Equator Principles
For more and detailed information about this, please have a look at the oil and gas sector page
scoring method
The bank is active in this sector but has no investment policy for this sector;
The bank: has only adopted or signed onto a voluntary standard or initiative relevant for this sector; or has developed its own policy, but it is vaguely worded without clear commitments;
The bank has developed its own policy, that includes at least half of the essential elements;
The bank has developed its own policy and this includes the essential elements in its lending and investment banking; orthis includes the essential elements in its asset management
The bank has developed its own policy and this includes the essential elements in its lending and investment banking as well as its asset management; or this includes both the essential and additional elements in its lending and investment banking; or this includes both the essential and additional elements in its asset management;
The bank has developed its own policy and this includes both the essential and additional elements in its lending and investment banking as well as its asset management.
The bank is active in this sector but has no investment policy for this sector;
The bank: has only adopted or signed onto a voluntary standard or initiative relevant for this sector; or has developed its own policy, but it is vaguely worded without clear commitments;
The bank has developed its own policy, that includes at least half of the essential elements;
The bank has developed its own policy and this includes the essential elements in its lending and investment banking;or this includes the essential elements in its asset management
The bank has developed its own policy and this includes the essential elements in its lending and investment banking as well as its asset management; or this includes both the essential and additional elements in its lending and investment banking; or this includes both the essential and additional elements in its asset management;
The bank has developed its own policy and this includes both the essential and additional elements in its lending and investment banking as well as its asset management.
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
Santander's own Environmental Policy is solely targeted at the bank's operational
footprint. Financed emissions are not considered and therefore this policy
receives no points.
For more and detailed information about this issue please have a look at the corruption sector page
scoring method
The bank has no investment policy for this issue;
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
Santander's Group Global
Policy on Money-Laundering Prevention includes a comprehensive chapter on
customer acceptance. It states that amongst others, "(P)ersons with businesses
that make it impossible to verify the legitimacy of their activities or the
source of funds" will not be accepted as a customer and that "Customers who are
high-level public officials and their family members, and well known
personalities wishing to open accounts outside their native countries (PEP´s)"
will only be accepted with prior authorization from the Analysis and Resolution
Committee (CAR) in the relevant country. Santander's
Code of Conduct addresses the
prevention of employees from paying or receiving bribes. Thus, Santander's customer acceptance policy
includes FATF Recommendations 5 and 6.. Together, these policies are awarded two
points for covering half of the essential elements on Corruption.
For more and detailed information about this issue please have a look at the close the gap issue page on human rights. This page also informs about the difference between essential and additional elements.
scoring method
The bank has no investment policy for this issue;
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
For more and detailed information about this issue please have a look at the labour issue page
scoring method
The bank has no investment policy for this issue;
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
For more and detailed information about this issue, please have a look at the taxation issue page
scoring method
The bank has no investment policy for this issue;
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
For more and detailed information about this issue, please have a look at the toxics issue page
scoring method
The bank has no investment policy for this issue;
The bank: has only adopted or signed onto a voluntary standard or
initiative relevant; or has developed its own policy,
but it is vaguely worded without clear commitments;
The bank has developed its own policy,
that includes at least half of the essential elements;
The bank has developed its own policy
and this includes the
essential elements in its lending and investment banking; or this
includes the essential elements in its asset management
The bank has developed its own policy
and this includes the essential elements in its lending and
investment banking as well as its asset management; or this includes
both the essential and additional elements in its lending and investment
banking; or this includes both the essential and additional elements
in its asset management;
The bank has developed its own policy
and this includes both the essential and additional elements in its
lending and investment banking as well as its asset management.
For more and detailed information about this issue please have a look at the close the gap page on accountability. This page also informs about the difference between essential and additional elements.
scoring method
The bank has no procedures regarding transparency and
accountability;
The bank has an internal and/or external audit system in
place to audit its Environmental and
Social Risk Management System and its sector and issue investment policies,
but does not publish the results of these audits; or performs
stakeholder engagement but not in accordance with AA1000
The bank's procedures include half of the essential
elements;
The bank's procedures include all of the essential
elements;
The bank's procedures include the essential elements and include the additional elements in its lending and investment banking; or include the additional elements in its
asset management
The bank's procedures include both the essential and
additional elements in its lending and investment banking as well as its asset
management.
additional information
This score is based on the following procedures within
the bankL: Stakeholder
engagement according to AA1000 SES. Only handling of clients' complaints. No
audit results on social and environmental risk management and policies
published.
For more and detailed information about this issue please have a look at the close the gap page on transparency. This page also informs about the difference between essential and additional elements.
scoring method
The bank has no procedures regarding transparency;
The bank has signed onto the Global Reporting Initiative
(GRI), but does not use its framework for reporting;
The bank's procedures include half of the essential
elements;
The bank's procedures include all of the essential
elements;
The bank's procedures include the essential elements and:
include the additional elements in its
lending and investment banking; or
include the additional elements in its
asset management;
The bank's procedures include both the essential and
additional elements in its lending and investment banking as well as its asset
management.
additional information
This score is based on the following procedures within
the bank: Verified
CSR Report 2008 using GRI framework. not all issue and sector policies disclosed
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