July 2, 2022

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Santander reorganizes the Green Finance District and takes charge of Lucas Aranguina |  comp

Santander reorganizes the Green Finance District and takes charge of Lucas Aranguina | comp

Santander has taken a strategic step to give its sustainable financial business more weight within the group’s organizational structure. entity Created the position of President of Green Finance, which will unite under one umbrella the business of investment banking (issuance of green bonds or equity investments) and sustainable finance provided by commercial banks (green finance products). Wealth Management and Consumer Digital Bank will continue to develop their green strategy as before.

will be responsible Lucas Arangena, to date is responsible for Santander’s corporate and investment banking ESG, which will retain his existing duties and report directly to the CEO. In addition, he will report regularly to the Management Committee, the Responsible Banking Forum, and the Board’s Committee on Responsible Banking, Sustainability and Culture.

In a statement addressed to employees, signed by Jose Antonio Alvarez, the bank’s CEO, it was detailed that the position had been created “to Incorporate green finance faster, Ensure consistency and maximum benefit from the scope of the group.” He also states that the new position of Arangüena will have two priorities. On the other hand, developing the infrastructure that will support green finance for the entire group. To do this, it must integrate the Sustainable Finance Classification System (SFCS), strengthen the oversight system Which assesses and manages greenwashing risks, and applies data strategy to measure and monitor business development.

Other priority Increase green finance business. In this sense, the group’s commercial strategy should define “presenting the best offers to our clients and deploying specialized teams that will help us take advantage of this opportunity,” according to the statement.

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business growing

With the creation of the personality of the head of green finance, Santander Strengthens the position of green finance within the group structure. Namely, sustainability is a strategic business and in full growth. Santander is committed to mobilizing €120,000 million in sustainable financing by 2025 and €220,000 million by 2030.

In addition, with the program Next generation money The European Union is expected to encourage financing for individuals and companies for projects of photovoltaic installations for self-consumption, the purchase of electric vehicles or the improvement of energy efficiency.

“Our goal is to be among the world leaders in green finance. Climate change is a global emergency and the greatest long-term challenge facing humanity. As a global bank, we are committed to playing a relevant role in this challenge. We must support our 155 million customers in their transition process towards a low carbon economy, advising them and offering products, services and business solutions,” says the bank’s CEO in his statement.

Santander has other goals in its responsible banking commitment, such as achieving financial inclusion for more than 10 million people by 2025, and that 100% of the energy it uses comes from renewable sources by 2025. The bank, which since 2020 has been carbon neutral in its own operations It has also managed to eliminate 100% of non-essential single-use plastics from its offices and buildings.