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Commitment and governance

Being responsible implies doing business while contributing to the economic and social progress of communities, taking into account environmental impact while fostering stable relationships with stakeholders. 

Earning and keeping people’s loyalty is the key to creating lasting value. To do this, we must understand the concerns of all our stakeholders. By listening to their opinions, and measuring their perceptions of the Group, we not only identify issues, we also spot opportunities. To achieve this, we have developed a strong corporate culture in which everything we do is Simple, Personal and Fair.

Likewise, as a company, Santander can play a major role in helping ensure growth is both inclusive and sustainable. Inclusive: by meeting all our customers’ needs, helping entrepreneurs start companies and create jobs, strengthening local economies, improving financial empowerment, and supporting people get the education and training they need. Sustainable: by financing renewable energy, supporting smart infrastructure and technology to tackle climate change (such as agrotech and green tech). We do this while taking into account the social and environmental risks and opportunities in our operations, and actively contributing to a more balanced and inclusive economic and social system.

Governance

We have reviewed and strengthened our responsible banking governance, both to ensure we are compliant and to help us manage initiatives.

To assist the Board of Directors in fulfilling its oversight responsibilities with respect to the responsible banking strategy, sustainability and culture issues of the Group, a Responsible Banking, Sustainability and Culture Committee was created in 2018. 

To drive progress on the responsible banking agenda, a new unit under the Executive Chaiman’s Office team has been established. This unit incorporates and coordinates the culture and the sustainability functions.

Santander has appointed a Senior Advisor on responsible business practices, who reports directly to the executive chairman and works with the Responsible Banking Unit.

Guiding principles have been developed for subsidiaries (and global business units) to ensure governance and implementation of its responsible banking agenda is embedded across the Group as a whole. Likewise, each subsidiary has appointed a senior responsible for the function. 

*The functions of the responsible banking, sustainability and culture committee are described in article 54 of the Bylaws and the characteristics in greater detail in article 21 of the Rules and Regulations of the Board of Directors.

 

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