Policies

Santander Group ensures ethical factors are properly considered when conducting business.

We therefore adhere to several policies, codes and internal rules inspired by the best practices, international conventions and protocols, codes of conduct and guides that are applicable in every area.

Our compliance with these policies is a process of continuous improvement. Santander undertakes an annual review of its corporate sustainability policies, which apply to the whole Group. These policies are approved by the Group’s board of directors, indicating the date of the last update.

Establishes the guidelines and required standards to embed a congruent culture throughout the Group.

“How” we do things is as important as “what” we do. Santander Group helps people and businesses prosper through a corporate culture based on shared values (Simple, Personal and Fair) and common ethical behaviours that ensure integrity in its actions.

For Santander Group, it is crucial to build the trust of people, customers, shareholders and communities in an environment that is respectful of diversity, equity and inclusion, and driven by a conscious leadership.

Corporate culture policy (PDF 973 Kb)

This policy sets out Santander Group’s criteria for investing in entities, and/or providing financial products and/or services to clients involved in the Oil & Gas, Power Generation and transmission and Mining & Metals sectors and those arising from businesses engaged in soft commodities. The policy sets out which activities are prohibited and those that require special attention from an environmental, social and climate change perspective.

Environmental, Social and Climate Change Risk policy (PDF 269 Kb)

Santander group will not be involved in the financing or support in relation to the manufacture, trade, distribution or maintenance services of the following prohibited materials: antipersonnel mines, cluster munitions, chemical or biological weapons, nuclear weapons and ammunition containing depleted uranium.

Defence sector policy (PDF 274 Kb)

This document contains information on the policies for integrating sustainability risks in the decision-making process and on the remuneration policy for Banco Santander, S.A. and its Group (“Santander” or “Santander Group”) and how these risks are managed and considered in them. Additionally, it contains information on Santander's approach to the analysis of the main adverse impacts on ESG factors.

Informative note on SFDR (PDF 202 Kb)

It defines Santander's general principles for responsible banking and sustainability, as well as the objectives that the Group voluntarily undertakes with its main stakeholders, including Santander's position on the protection of human rights. This policy includes the main recommendations of the CNMV's Code of Corporate Governance. The responsible banking and sustainability policy also includes the main processes to ensure the management and monitoring of the objectives in this area.

The policy approved by the Board of Directors merges the general sustainability policy and the human rights policy to better integrate the objectives of both policies into existing processes. It also facilitates implementation and understanding in a single, simpler and more operational document..

Responsible Banking and Sustainability policy (PDF 865 Kb)

This code brings together the ethical principles and rules of conduct governing the actions of all of the Bank’s staff.

General code of conduct (PDF 1.26 MB) 

This policy aims to provide Santander Group employees, directors and entities with guidelines for preventing and managing conflicts of interest that may arise as a result of their activities

Policy on conflicts of interest (PDF 377 MB) 

Banco Santander has an internal information system (named, Canal Abierto) for anyone related to its group to report breaches of legal or internal regulations, irregular financial and accounting practices or violations of its General Code of Conduct, corporate behaviours and Internal Governance system confidentially and anonymously -if they wish to do so-, with absence of reprisals, among other guarantees and rights of the reporter that are included in the internal regulations that regulate this channel.

This document establishes the minimum principles of ethical, social and environmental conduct that Banco Santander expects from all its suppliers; these are aligned with the ten principles of the Global Compact.

Principles of responsible behaviour for suppliers (PDF 296 Kb)

The tax strategy and the corporate tax policy set out the principles governing Banco Santander's fiscal action requiring adopting all good practices leading to the appropriate prevention and reduction of both tax risk and reputational risk, in order to generate greater legal and economic security for the institution and its shareholders.

Banco Santander has adhered since 2010 to the Code of Good Tax Practices in Spain and to the Code of Practice on Taxation for Banks in the United Kingdom, actively participating in the cooperative compliance programs being developed by different Tax Administrations.

The Group provides information on its total tax contribution in the Responsible Banking chapter of the Group's Annual Report, as well as information on taxes paid in each jurisdiction in accordance with Article 89 of Directive 2013/36 / EU, in Annex VI of the audit report and consolidated annual accounts.

Tax strategy Banco Santander (PDF 157 Kb)

Tax policy extract (PDF 227 Kb)

The purpose of this policy is to set out the criteria that regulate the treatment of donations as well as the process for making donations (proposal, assessment, decision, control and monitoring) that the Santander Group considers making for social purposes.

Policy on donations (PDF 327 Kb)

This policy defines the general principles of Santander regarding Health, Safety and Wellbeing, based on recognized best practices according to relevant international guidelines and initiatives on the subject. Our aim is to ensure the highest health, safety and wellbeing of our employees, promoting healthier lifestyles and creating long-term value for our employee base and for society. This Policy will be adapted locally and in strict compliance with the relevant legislation in each country where the Group operates.

General Statement for Santander Group (PDF 106 kb)

General Health, Safety and Wellbeing Policy (PDF 539 kb)

This document sets out the Physical Safety Policy, which establishes principles and functional aspects for protecting the physical integrity of the Group's essential assets (i.e. customers, employees, facilities and information).

Physical safety policy extract (PDF 576 kb)

This document sets out the guiding principles for managing conduct risk with customers in Santander Group. It is based on the Corporate Compliance and Conduct Framework and is prepared as an extract of the internal conduct risk regulation (especially the Conduct Risk with Customers Management Model).

Principles for managing conduct risk with customers (PDF 433 kb)