Environmental and climate strategies and policies

  • GRI:
  • Policy commitments2-23
    Policy commitments
  • Embedding policy commitments2-24
    Embedding policy commitments
  • PRB:
  • Impact and Target Setting2
    Impact and Target Setting
  • GPW:
  • Environmental policyE-P5
    Environmental policy

The most important documents concerning the management of the environmental impact of Santander Bank Polska Group are:

  • Group Net Zero strategy
  • Responsible Banking Strategy (effective 2021-2023),
  • We Help You Achieve More business strategy 2024-2026 ,
  • Responsible Banking and Sustainability Policy,
  • Social, Environmental and Climate Change Risk Management Policy,
  • sector policies,
  • Sustainable and Responsible Investment Policy and Policy of Engagement with Listed Companies and Application of Corporate Governance Measures" (of key importance at Santander TFI S.A.),
  • Global Sustainable Bond Framework Policy,
  • Green Bond Framework Policy.

Santander Group's climate strategy and Net Zero strategy

In the Santander Bank Polska Group, we implement the climate strategy of the Banco Santander Group and operate in line with the Net Zero strategy promoting alignment of our portfolio with the objectives of the Paris Agreement and the policies of the European Union which emphasize the major role of the financial sector in combating climate change. We want to achieve net zero emissions by 2050 and this objective applies to the entire value chain of the Santander Bank Polska Group.

Strategia klimatyczna Grupy Santander jest oparta na czterech filarachAmbicją całej Grupy jest osiągnięcie zeroemisyjności w 2050 r.:

  • Dostosowanie naszego portfela do celów Porozumienia Paryskiego – Dostosowanie portfela
    pod kątem zapewnienia, że przewidywane emisje dwutlenku węgla będą zgodne z celem ograniczenia wzrostu temperatury do 1,5°C zgodnie z NZBA i NZAMi.
  • Wspieranie naszych klientów w ich ekologicznej transformacji – Pomoc klientom w przechodzeniu na gospodarkę niskoemisyjną – wskazówki, porady oraz rozwiązania inwestycyjne i biznesowe dla klientów
  • Ograniczenie naszego wpływu na środowisko – Osiągnięcie neutralności węglowej w zakresie operacji własnych i pozyskiwanie energii elektrycznej z odnawialnych źródeł do 2025 roku w celu zmniejszenia naszego wpływu na środowisko
  • Uwzględnienie klimatu w zarządzaniu ryzykiem –  Zapewnienie zgodności z oczekiwaniami regulacyjnymi/nadzorczymi oraz uwzględnienie kwestii klimatycznych w zarządzaniu ryzykiem

The Net Zero strategy envisages:

  • discontinuation of financing for energy companies with more than 10% of their revenue derived from coal-fired power generation from 2030 at the latest,
  • discontinuation of lending services to thermal coal producers by 2030,
  • supporting customers in the transition process through comprehensive financing for renewable energy sources and the development of adequate financial products.

We aim to achieve the targets set by the Group’s Net Zero Strategy in the medium and long term on the basis of identified and implemented decarbonisation levers. We are pursuing these by reducing the Group’s internal emissions (resulting from, among other things, electricity consumption and business travel) and emissions related to the financial services provided – lending, advisory or investment services.

Responsible Banking Strategy

Our strategic commitment implemented in 2023 under the 'Green Bank’ banner was to prioritise environmental protection in our external and internal operations. The Group is developing sustainable financial products and solutions, supporting the transition to a low- and zero-carbon economy and aligning operations with international environmental requirements.

Responsible Banking and Sustainability Policy

In matters related to environmental impact, our Group operates according to the prudence principle.  This approach is described in the Responsible Banking and Sustainability Policy which describes our actions and commitments in this regard. In line with this policy, acknowledging the community’s right to live in a healthy and clean environment.

  • analysing and identifying negative environmental impacts as part of the risk assessment process of financial and investment activities in a manner consistent with applicable international standards,
  • gradually building transaction portfolios in line with the idea of promoting and financing a low-carbon and climate-resilient economy, which is necessary to halt global warming,
  • managing the environmental impact generated by the bank’s infrastructure by applying management systems based on international regulatory standards, taking into account continuous improvement, and by controlling the most important aspects of consumption, waste and emissions.
  • promoting environmental protection based on international regulatory standards and a system of continuous improvement – at the bank we are in the process of preparing for ISO 14001 environmental certification. In 2023, the documentation was prepared. In the first quarter of 2024, employee training and then the certification process is planned. Santander Leasing is ISO 14001 certified.
  • setting indicators for systematic improvement in the efficiency of environmental management and decarbonisation targets for the most polluting areas of our own operations,
  • measuring and monitoring the consumption of natural resources, emissions and waste production at most Santander Bank Polska S.A. sites.
  • reducing the financing of activities that can have a direct impact on the environment and society and cause long-term effects related to climate change,
  • establishing responsible relationships with customers to encourage sustainable business activities that create wealth for current and future generations,
  • encouraging suppliers to commit to environmental protection and the transition to a low-carbon economy.

Social, environmental and climate change risk management policy

The Santander Bank Polska Group analyses environmental and social risks for clients operating in the oil and gas, energy, mining and metals and soft commodities sectors.

These matters are governed by the Social, Environmental and Climate Change Risk Management Policy, which sets out the criteria for identifying, assessing, monitoring and managing social and environmental risks and details our standards for investing and collaborating with clients operating in industries with the greatest impact on the climate.

The criteria apply to customers in all segments (Corporate and Investment Banking, Business and Corporate Banking, Small and Medium Enterprises) and are binding for the entire Santander Bank Polska Group in relation to financing, advisory services, capital management, asset management and insurance. The Social, Environmental and Climate Change Risk Management Policy also identifies the types of activities in the aforementioned sectors subject to prohibitions or restrictions. These include:

  • sourcing and processing of indigenous timber or palm oil without appropriate certification,
  • any project or activity involving oil and gas extraction, power generation or transmission, mining and metallurgy, manufacturing infrastructure, plantations or other major infrastructure projects that put at risk areas classified as wetlands protected by the Ramsar Convention1, UNESCO World Heritage Sites2 or protected areas recognised by the International Union for Conservation of Nature (IUCN) as Category I, II, III or IV areas3,
  • projects that, in accordance with IFC Performance Standard 7 – Indigenous Peoples4 require free, prior and informed consent (FPIC), do not meet the IFC 7 performance standard and do not have a credible action plan to ensure compliance.

These are however not the only sectors analysed by the Group from an environmental and social perspective. For more information on procedures in the context of risk management, see the subsection ‘Climate risks in credit processes’.

1 The Convention on Wetlands, known as the Ramsar Convention, is an international treaty that provides a framework for the conservation and sustainable use of wetlands and their resources. (https://www.ramsar.org/).
2 http://whc.unesco.org/en/list
3 The International Union for Conservation of Nature (IUCN) classifies protected areas according to their environmental management objectives: Category I: Ia: Strict nature reserve; Ib: Wilderness area, Category II: National park, Category III: Natural monument or feature Category IV: Habitat or species management area.
4 https://www.ifc.org/en/insights-reports/2012/ifc-performance-standard-7