Santander

Massachusetts, Spain
Banks

Risk Level:

Rating - Danger
High Risk

Summary:

Santander has embedded ESG principles into its corporate operations and made climate commitments that include prohibiting investments into some future oil and gas developments. Santander has donated to ideological organizations and supported ideological causes hostile to freedom of expression. The company has used its funds to advance DEI principles. Santander advocates for LGBTQ causes and discriminates against religious organizations in its charitable giving. Santander is a member of Glasgow's Net Zero Alliance. Santander does not provide its employee with protection against viewpoint discrimination. For these reasons, Santander receives a High Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

Banco Santander is member of the Net-Zero Banking Alliance (1)(2). 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 (3)(4)(5). However, there are no publicly known instances of Santander terminating existing business relationships due to religious or political beliefs.

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

The Santander Consumer USA Foundation “excludes funding to the following: programs and organizations whose primary focus is political or religious activism, sponsorship of personal fundraising events (e.g., walkathons), team sponsorships, sporting events, and parent-teacher organizations” (1).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

Santander does not provide its employee with protection against viewpoint discrimination (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

Santander integrates ESG into all of its business practices through its commitment to the Paris Climate Agreement and its ESG reports (1)(2). Santander employees are required to participate in DEI training, including promoting gender diversity and sexual orientation (3). Santander promotes LGBTQ advocacy through its Embrace Network (4). Banco Santander is a member of the Net-Zero Banking Alliance and Net-Zero Asset Managers initiative (5)(6)(7).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

The Santander Consumer USA Foundation donated $175,000 to Dallas Truth Racial Healing and Transformation, which fights for systemic and racial narrative change (1). Santander donated $5.2 million to social justice and racial equity organizations and donated in support of Juneteenth (2). Santander donated $1 million for diverse leadership training and racial and social equity initiatives (3). 

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

Santander has not used its PAC donations for ideological purposes (1)(2).

All links were last accessed and all information was updated on:
April 4, 2023

Company reports are intended for educational use only. Full Disclaimer

Generate Reports
Clear
Toast