Commercial, Finance, Sourcing Renewables  -  July 5, 2023

Santander USA Transitions to 100% Carbon Neutral Operations

Santander Holdings USA, Inc., a financial services company, transitioned to 100% carbon-neutral operations and announced $2 billion in renewable energy finance underwritten and participated in sustainability-linked transactions totaling $61.3 billion.

The company also reported 59% of its electricity came from renewable sources. The company achieved progress on its global commitment to achieve net-zero carbon emissions by 2050. 

In 2022, Santander US issued its inaugural $500 million sustainable bond, which was the first under Santander Group’s Green, Social & Sustainable Funding Global Framework. Through its auto lending business, Santander US provided $888 million in financing for fully electric and plug-in hybrid vehicles, a 27% increase from 2021. As a leader in renewable energy finance, Santander US will invest $9 billion in green finance over the three-year Community Plan.

Details were provided in its 2022 Prosperity with Purpose Report, its annual Environmental, Social and Governance report detailing current commitments and efforts to help advance sustainability.

“Sustainability and inclusivity are core to our purpose of helping people and businesses prosper,” said Tim Wennes, Santander US CEO in a statement. “Santander Group is a global leader in sustainability practices, and we remain committed to executing our US strategy while providing access to financial education and resources, advancing community development, and helping our customers make the green transition. In addition to our positive impact last year, we will invest $13.6 billion via our new Santander US Community Plan to continue our support of the communities where our customers live and our employees work.”