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Santander has once again elected the most responsible bank in terms of ESG in Portugal – Executive Digest

Santander has once again elected the most responsible bank in terms of ESG in Portugal – Executive Digest

Santander has been elected, for the second year in a row, the most responsible bank in Portugal, taking first place in the sector in the Merco ESG 2022 ranking. The study assesses companies that have best complied with environmental, social and governance (ESG) factors.

This ranking brought together the evaluation of various managers and professionals, including financial analysts, economic journalists, NGOs, trade unions and consumer associations.

Santander also explains that this also had input from Merco Consumo monitors, with which the general population was consulted, and Merco Digital, as well as benchmarking, with which reputational benefits were assessed.

In all, 5 assessments were conducted, 12 sources of information were consulted, and 1,205 surveys were conducted.

With regard to ESG standards, Santander identified three strategic axes: in Pillar E (environment or ecology), supporting the transition to a low-carbon economy, in Pillar S (social), promoting inclusive growth, and in Pillar G (governance or governance), including ESG in throughout the organization.

“On the environmental front, Bank Santander has continued the path it set out to combat climate change, support the goals of the Paris Agreement, and act with ambition to be carbon-neutral by 2050,” the bank said in a statement.

Santander is also committed to helping customers transition to a low carbon economy, launching in 2022 the first sustainable assurance solution in Portugal, partnering with Sonae and EcoVadis

And they stress that “Santander has also been a leader in the financing of renewable energies, both worldwide and on the national market, supporting large commercial projects in the scope of the energy transition”.

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The bank also indicates that the creation of the Santander Portugal Foundation has strengthened its impact on society, and that it intends to invest in the future of Portugal, offering, in 2022, more than 6,600 scholarships to students, professionals and entrepreneurs.