Santander avance trop lentement sur les énergies fossiles

Reclaim Finance critiques Santander's new environmental policy, noting that while the bank aims for zero exposure to thermal coal mining by 2030 and restricts non-conventional oil and gas financing, it fails to implement immediate exclusion criteria for high-exposure clients or a comprehensive exit plan for conventional fossil fuels.

• Santander has introduced new coal-related targets, including achieving zero exposure to thermal coal mining by 2030 and excluding energy companies that derive more than 10% of their revenue from thermal coal by the same date.
• The bank's policy on oil and gas now prohibits financing for projects involving the exploration, development, transport, construction, or expansion of non-conventional oil and gas, as well as companies earning over 30% of their revenue from non-conventional hydrocarbons or Arctic extraction.
• Reclaim Finance argues that Santander's coal exit strategy is inadequate because the 10% revenue threshold is too high—recommending a 5% limit—and the bank lacks immediate exclusion criteria for existing clients, having directed $5.7 billion to 25 coal-linked companies between October 2018 and October 2020.
• The policy is criticized for allowing continued financing of clients developing new coal projects in Poland, specifically naming PGNiG, TAURON, PGE, and Energa, which the author claims is incompatible with carbon neutrality by 2050.
• The bank's oil and gas restrictions are deemed insufficient as they do not cover deep-water projects, LNG, or conventional oil and gas, and the policy lacks a dated exit plan.

APA

admin (2021). Santander avance trop lentement sur les énergies fossiles. Reclaim Finance. https://reclaimfinance.org/site/2021/02/23/santander-avance-trop-lentement-sur-les-energies-fossiles/

Chicago

admin. Santander avance trop lentement sur les énergies fossiles. Reclaim Finance, 2021. https://reclaimfinance.org/site/2021/02/23/santander-avance-trop-lentement-sur-les-energies-fossiles/.

Wikipedia

{{cite press release |last1=admin |title=Santander avance trop lentement sur les énergies fossiles |publisher=Reclaim Finance |date=23 February 2021 |url=https://reclaimfinance.org/site/2021/02/23/santander-avance-trop-lentement-sur-les-energies-fossiles/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021santander, author = {admin}, title = {{Santander avance trop lentement sur les énergies fossiles}}, publisher = {Reclaim Finance}, year = {2021}, month = feb, url = {https://reclaimfinance.org/site/2021/02/23/santander-avance-trop-lentement-sur-les-energies-fossiles/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }