Santander
Corporate Bias Rating
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Risk Level:
Summary:
Santander scored a 100 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with Human Rights Campaign’s controversial demands, Santander increases the risk of dividing employees, alienating customers and harming shareholders. The company provides a benefits package for employees which covers transgender medical procedures for covered employees and dependents, including children. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Santander forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Santander integrates ESG into all of its business practices and promotes gender diversity and LGBTQ advocacy through its Embrace Network. Banco Santander is a member of the Net-Zero Banking Alliance, Net-Zero Asset Managers initiative, and Glasgow Financial Alliance for Net Zero, committed to carbon neutrality by 2050. As part of its ESG commitments, Santander embeds climate risk mitigation into all of its business operations, including prohibiting some future investments in oil and gas. Santander gave $100,000 to the Equal Justice Initiative and donated $1 million for diverse leadership training and racial and social equity initiatives. The company was a member of the Global Alliance for Responsible Media, which demonetized and suppressed content that it deemed to spread “hate speech” or “misinformation”, discuss “debated social issues in a negative or partisan context”, or “vilif[y]” individuals based on sexual orientation and gender identity. These arbitrary guidelines were used to censor mainstream perspectives online. For these reasons, Santander receives a High Risk rating.
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