Santander Group and Oxentia Foundation launch the Santander X Environmental Challenge
- Santander Group and Oxentia Foundation have launched a new global competition for entrepreneurs working to create a low-carbon economy.
- The Santander X Environmental Challenge addresses two objectives: Be sustainable through green financing and investment, and Be mindful through products and services that raise awareness about our impact on the environment.
- The call is open to entrepreneurs from 11 selected countries with operating businesses. Information on the competition is available at www.santander.com/santander-x-environmental-challenge-en
Through Santander X and alongside the Oxentia Foundation, Santander Group is launching the Santander X Environmental Challenge. The initiative aims to support environmentally committed entrepreneurs with innovative ideas that help build a more sustainable future and accelerate the transition to a low-carbon economy, delivering the international commitment to the Paris Accord on climate change.
The transition to a green economy will remain one of the major challenges facing global communities after COVID-19. Our duty to implement a resilient, inclusive, low-carbon economy as a vector of economic recovery will be even more compelling in the post-pandemic era.
COVID-19 has brought about a global health crisis and a downturn in the world economy, but it has not slowed down climate change. By the end of the 21st century, the temperature of our planet will have risen by 3°C, well above the 1.5°C threshold laid down in the Paris Accord. If we do nothing to prevent this, the consequences for our planet will be dramatic. This challenge is a genuine opportunity for the green revolution, which requires massive investment in new technologies. For this to happen, we need innovation and entrepreneurs.
The Santander X Environmental Challenge is open to businesses that are already up and running and actively selling at least one product or service with a yearly turnover of between EUR 200,000 and 5,000,000. The opportunity is open to entrepreneurs based in Poland, Germany, Argentina, Brazil, Chile, Spain, Mexico, Portugal, the UK, Uruguay, and the United States.
Applicants must provide clear sets of data demonstrating the positive impact of their innovations on the environment or the communities and areas where they operate. Applications must show relevance towards one of the two competition categories, which encompass multiple challenges related to climate change:
Be sustainable:
solutions promoting green investment and financing.
Be mindful:
projects helping to raise awareness of the importance of reducing our environmental impact.
Companies wishing to take part in the competition can register at www.santanderx.com until 8 April 2021.
A group of international experts will assess participants and their solutions, and will select twenty finalists. These will be invited to present their projects online to an international panel of leading experts in sustainability, entrepreneurship, and global investment on 26 April 2021. Six winners, three in each category, will receive EUR 20,000 to develop their projects further, tailored mentoring from experts in the Oxentia Foundation’s network, as well as maximum visibility in Santander’s channels and social media.
The Santander X Environmental Challenge is the second global entrepreneurship challenge launched by Santander X, Santander Group’s global entrepreneurship network. It is yet another example of the bank’s commitment to the entrepreneurial community as one of the main drivers of economic recovery and employment. In 2020 alone, the bank contributed to the realisation of sustainability initiatives supporting over 32,700 entrepreneurs.
