Santander reorganizes Green Finance area and faces Lucas Arangüena | Companies

Santander has taken a strategic step to add more weight to its sustainable finance business within the group’s organization. The entity has created the position of head of Green Finance, which will unify under the same paraguas the business related to the investment bank (issuance of green bonds or capital investments) and the sustainable finance that the commercial bank offers (green finance products). Wealth Management and Digital Consumer Bank will continue to develop their green strategy as of now.

In front of the cargo will be Lucas Arangüena, is currently responsible for Santander Corporate & Investment Banking ESG, which will maintain its current operations and report directly to the delegated advisor. In addition, it will report periodically to the Steering Committee, the Responsible Banking Forum and the Responsible Banking Commission, Sustainability and Culture of the Council.

In a communication directed at the staff, signed by José Antonio Álvarez, the bank’s delegated adviser, it was detailed that the post had been created “for integrate green finance faster, guarantee coherence and make the most of the group scale “. Similarly, Arangüena explains that the new cargo of Arangüena will have two priorities. On the one hand, develop the infrastructure in which the green financing of the whole group will be supported. For this, it must incorporate the sustainable finance classification system (SFCS), strengthen the control system that assesses and manages green washing risk, and apply a data strategy to measure and monitor business development.

The other priority is to increase the business of Green Finance. In that sense, the group’s marketing strategy should be defined as “offering our customers the best value proposition and deploying specialized equipment that will help us take advantage of this opportunity”, the spokesman said.

Business in growth

With the creation of the figure of the head of Green Finance, Santander refusing the position of green finance within the structure of the group. And that is, sustainability is a strategic business area and in full growth. Santander has the commitment to mobilize 120,000 million euros in sustainable finance until 2025 and 220,000 million until 2030.

In addition, with the program of Next Generation funds from the EU it is anticipated that funding will be given to individuals and companies for projects of self -consumption photovoltaic installations, purchase of electric vehicles or improvement of energy efficiency.

“Our goal is to be among the global leaders in Green Finance. Climate change is a global emergency and the biggest long -term threat to humanity. As a global bank, we are committed to playing a relevant role before this crisis. We must support our 155 million customers in their transition to a low -carbon economy, advising and offering products, services and business solutions “, the bank’s delegated adviser said in a statement.

Santander has in its responsible bank commitment other objectives such as achieving the financial inclusion of more than 10 million people by 2025, of which 100% of the energy it uses is through renewable sources for 2025. The bank, which from 2020 is neutral in carbon in its own operations, has also managed to eliminate 100% of the essential plastics of a single use in its offices and buildings.

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