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.

Defines the Bank’s general sustainability principles, and its voluntary commitments with its main stakeholders focused on the creation of lasting value. This policy incorporates the CNMV's Code of Corporate Governance main recommendations in this area.

The sustainability policy also refers to managing social and environmental risks when the Bank provides finance to sensitive sectors and for sensitive business activities, further developed in the sectorial policies.

General sustainability policy (PDF 274 Kb)

Establishes the guidelines and required standards to embed a healthy culture throughout the Santander Group. “How” we do things is as important as “what” we do and it is our Corporate Culture that sets out how we ensure we do not simply meet our legal and regulatory requirements, but we exceed expectations by being Simple Personal and Fair in all we do.

Corporate Culture Policy (PDF 1.3 MB)

This policy sets out Santander Group’s criteria for investing in entities, and/or providing financial products and/or services to customers involved in the Oil & Gas, Power Generation and Mining & Metals sectors and those arising from businesses engaged in soft commodities. The policy sets out the criteria for the identification, assessment, monitoring and management of environmental and social risks and other climate change related activities. This policy is a substitute to the previous energy, mining and metals, and soft commodities policies.

Environmental, Social and Climate Change Risk policy (PDF 889 Kb)

The defence policy provides that Banco Santander will not maintain, under any circumstance, any type of business relationship with organisations (and their subsidiaries) that manufacture, commercialise or distribute: antipersonnel mines, cluster munitions, chemical or biological weapons, nuclear weapons and ammunition containing depleted uranium, irrespective of their business activity.

Defence sector policy (PDF 67 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)

This policy sets out Santander's position on protecting human rights in its relations with stakeholders. The policy takes into account the UN Guiding Principles on Business and Human Rights.

Human rights policy (PDF 999 Kb)

This code brings together the ethical principles and rules of conduct governing the actions of all of the Bank’s staff and is the central element of the Group’s compliance programme. 

Banco Santander has a channel for anyone related to its group to report irregular financial and accounting practices or violations of its General Code of Conduct, corporate behaviour and Internal Governance system anonymously and confidentially.

General code of conduct (PDF 496.5 Kb) 

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 section on investing in the community in its Sustainability 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 41 Kb)

Tax policy extract (PDF 120 Kb)

The purpose of this policy is to delimit and regulate the process of proposal, assessment, decision, control and monitoring of those free contributions that the Santander Group considers making for social purposes.

Policy on contributions for social purpose (PDF 301 Kb)