- Annual Report | Responsible Banking 2021
Associations
We promote sustainable development in the banking sector through the Association of Mexican Bank’s Sustainability Protocol, which encompasses five elements:
As Santander Group and Santander Mexico, we are currently involved in a number of organizations, and we are signatories of major domestic and international initiatives:
Voluntary membership of international initiatives:
United Nations Global Compact **
This call by the UN aims to drive companies to align their strategies and operations with ten universal principles that encompass human rights, labor, the environment and the fight against corruption, as well as promoting the implementation of the Sustainable Development Goals (SDG) and focusing on collaboration and innovation.
Banking Environment Initiative (BEI) *
This institution, which is part of Cambridge University, focuses on promoting a sustainable economy through a range of different strategies that encompass interdisciplinary research in six core areas (sustainable finances, economic innovation, inclusive development, natural capital, cities of the future, and leadership), as well as implementing leadership tools and collaboration with academia and the industry.
World Business Council for Sustainable Development (WBCSD)*
This global association of more than 200 companies guides and supports companies, helping them accelerate their transition toward a sustainable world by having a positive impact on shareholders, the environment and societies.
Wolfsberg Group *
Santander is one of 13 global financial institutions in this group, the goal of which is to develop frameworks and strategies for the management of financial crime risks, including money laundering and the financing of terrorism.
United Nations Environment Programme Finance Initiative (UNEP FI) *
This United Nations initiative focuses on providing guidance to financial institutions about how to improve people’s quality of life without compromising that of future generations by driving sustainable development within the financial market.
Equator Principles **
A risk management framework adopted into the policies and procedures of financial institutions to determine, assess and manage environmental and social risks linked to the projects they finance.
CEO Partnership for Economic Inclusion*
CEOP comprises a group of companies that work together to drive the growth of global economic and financial inclusion.
Principles for Responsible Investment (PRI)*
With the support of the UN, this initiative focuses on the implementation of six principles to help create a more sustainable global financial system.
Round Table on Responsible Soy*
It promotes the use of responsible soy through cooperation among elements of the soy value chain (producers, suppliers, retailers, financial institutions, CSO’s, etc.) by promoting open dialog to help drive the development, implementation and verification of global certification standards.
Sustainable Livestock Working Group*
It promotes the development of sustainable, socially fair, environmentally correct and economically viable livestock through transparent dialog and a series of practical tools and indicators.
Carbon Disclosure Project (CDP)*
This not-for-profit organization aims to help companies adopt measures to build a sustainable economy by measuring their environmental impact, especially in terms of greenhouse gas emissions.
Women’s Empowerment Principles (WEPs)**
This joint initiative between the UN and the Global Compact provides support for companies regarding how to promote gender equality and the empowerment of women in the workplace, the market and the community.
Pride Connection México***
Santander is part of a network of companies that seeks to promote inclusive workplaces for sexual diversity, where LGBT+ employees and their allies feel safe, valued and respected in order to maximize their full potential.
Net-Zero Banking Alliance*
In 2021, Santander became a founding member of the Net Zero Banking Alliance, promoted by the United Nations Environment Programme – Finance Initiative (UNEP FI) as part of the Glasgow Financial Alliance for Net Zero (GFANZ). The goal of this alliance is to ensure that, by 2050, participating banks align their loans and investment portfolios with net zero emissions. The goal is to build a zero-emission economy and meet the goals of the Paris Agreement.
UN Global Investors for Sustainable Development (GISD) Alliance*
This alliance aims to offer concrete solutions to expand finance and long-term investment in sustainable development.
Consultative Group of the Taskforce on scalling Voluntary Carbon Markets*
This private sector-led initiative aims to scale an effective and efficient voluntary carbon market to help meet the goals of the Paris Agreement.
The Valuable 500*
A global collective of 500 CEOs and their companies innovating for the inclusion of people with disabilities.
Partnership for Carbon Accounting Financials (PCAF)*
This global association of financial institutions works together to develop and implement a harmonized approach to assessing and disclosing greenhouse gas (GHG) emissions associated with their loans and investments.
Climate Leadership Council*
Its mission is to promote effective, fair, and lasting climate solutions based on the carbon dividend plan.
** Grupo y Mexico.
*** Mexico
****Corresponds to 2021, as of December of the same year, the Bank left the FTSE4Good Index. Banco Santander México has an ESG rating which is above the threshold required for index inclusion, however, due to various market aspects such as changes in capitalization and liquidity, Santander Mexico had to leave the underlying indexes that allow companies to be eligible for inclusion in the FTSE4Good index Series.