Sustainability Report 2022

Santander in the Nordics has released its Sustainability report for 2022. The report contains the Groups strategy for responsible banking and results on ESG and sustainability related matters. The report is developed in accordance with the Global Reporting Initiative (GRI) 2021 Universal Standards.

• Santander in the Nordics is fully committed to establishing sustainability throughout our end-to-end value chain. Shifts in consumption behaviour amongst consumers towards more sustainable choices presents businesses with opportunities. We, as a bank, are committed to being there to support our customers and partners in making this transition, says Michael Hvidsten, CEO of Santander in the Nordics.

The Group continues to support and finance the decarbonisation transition in transportation. As a leader in the Nordic auto finance market, the Group’s share of all new BEV (Battery Electric Vehicles) financed in the Nordic market was 13.9%.

• As the region’s largest auto finance provider, we are making a significant contribution to the green transition within the mobility sector, says Hvidsten. 

Our most important contribution

In developing the Sustainability report, a materiality assessment was conducted to identify the Groups most significant sustainability related material topics:

1. Promoting responsible consumption
2. Minimising our carbon footprint
3. Ensuring human rights and good working conditions in our value chain
4. Acting as a responsible lender
5. Protecting the organisation’s and customers’ data
6. Preventing corruption, money laundering and terror financing

 Other 2022 highlights

The financing of home energy solutions is an increasingly attractive business segment. The Finnish market is the Group’s largest market for home energy financing, and the home energy solutions business has grown significantly in 2022 by 266% by number of contracts.

The Group launched its first “Eco” card in Norway in 2022, to be subsequently rolled out in other markets. TietoEVRY’s bio-based VISA card was selected as the Group’s Eco card solution, with the composition of cards being approximately 84% plant-based materials.

In April 2022, the Group launched its new brand concept “When it feels right” to encourage responsible consumption.

The Group continued its focus on embedding ESG risks and opportunities into its risk management and other strategic management processes.

The Group rolled out a broad program of mandatory training on internal control and governance related aspects, including mandatory ESG training for all employees.

Part of Banco Santander

Santander in the Nordics is a part of Grupo Santander, one of the world’s largest financial groups. Grupo Santander has ambitious and progressive sustainability goals and was in 2022 ranked amongst the world’s most sustainable banks in the Dow Jones Sustainability Index1, placing amongst the top three in Europe. It aims to be net zero in carbon emissions by 2050. This applies to operations and emissions from lending, advisory and investment services. It is a founding member of the Net Zero Banking Alliance (NZBA, under the United Nations Environment Programme Finance Initiative.