GREENPEACE UK ACTION: SANTANDER'S LENDING POLICY, SPECIFICALLY WITH REGARDS TO DEFORESTATION

25th February 2015

Santander is committed to being a responsible business, contributing to the economic and social progress of the communities we support worldwide. To this end, we have very strict policies in place to take into account the environmental impact of – not only our activities – but also those of the companies we lend money to and support. We update and review these policies regularly.

As a global bank, a number of our customers work in the natural resources sector. Our parent company, Banco Santander, through its offices in Asia, has a business relationship with APRIL, a pulp and paper company in Indonesia. In recent months, Banco Santander requested they undergo an independent audit into their environmental practices. This has been carried out by APRIL’s independent Stakeholder Advisory Committee (SAC) and KPMG, and APRIL will put out an action plan in response to their recommendations.

Based on further internal analysis, Banco Santander has decided to not renew the current funding to APRIL and will not be extending further funding at this stage.

Banco Santander's Social and Environmental Policy sets out how we govern the Bank’s sustainability activity. It specifically refers to the impact of the Bank’s activities on conserving biodiversity and sustainable management of resources, labour rights, prevention of pollution, health and safety in the community and respect for indigenous peoples. It is on the Banco Santander website under the sustainability tab and can be found here.

A copy of the policy can be downloaded here.

Our efforts continue to be recognised. In October 2014, we learnt that we had been named the World’s Greenest Bank for the third time in four years, in The Bloomberg Markets ranking. This global scheme evaluates the efforts of financial institutions to invest in clean energy and reduce their own waste and carbon footprints.

We are meeting with Greenpeace to discuss more fully.

Santander UK plc