Santander
Headquarters:
Spain
Rank:
#6
$1.004 billion estimated in direct Amazon Oil and Gas since 2016
Total Direct Financing since 2016
$1004 million
Total Recent Direct Financing (2024-2025)
$37 million
Key Findings
Recent financing:
Since 2024, the bank provided $37 million in direct financing, dropping its rank to ninth in recent financing, showing signs of exposure decline.
#1 financier of fossil fuel expansion in Latin America and the Caribbean, according to the latest report
No Amazon Exclusion Policy
60% of the Amazon not covered in any ESRM policies
Follower in Oil and Gas Policy
Follower in Human Rights and Indigenous Policy
Recommendations
Add “Amazon Biome,” as defined by RAISG33, and the Mouth of the Amazon sedimentary basin to the existing restriction criteria for oil and gas, so that the policy excludes financing clients with more than 30% activity in the Amazon.
Plan for a total exit from Amazon oil and gas by 2030.
Direct Financing to Amazon Companies Over Time
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