Tuesday, January 18

Santander seals a new alliance with Scuderia Ferrari

Santander was in 2020 the world’s leading bank in financing renewable energy and its investment banking business (Santander CIB) has teams specialized in advising large clients on their green transition. The entity has also been carbon neutral in its activity since 2020 and has the ambition to achieve net zero emissions for all its clients’ emissions derived from any of the financing, advisory or investment services offered by Santander in 2050. In addition, the businesses from the car finance bank in Europe (Santander Consumer Finance), the United States (Santander Consumer USA) and other markets are supporting the development of sustainable mobility solutions.

Ana Botín, president of Banco Santander, said: “We are very excited to work with Ferrari again and support them in their green transition. Santander is committed to fighting climate change and, as Europe’s leading car financier, we want to help make the automotive industry sustainable. This alliance with Ferrari will accelerate the development of both companies in this area ”.

John Elkann, President of Ferrari, said: “It is an honor to have as a partner a global financial leader such as Banco Santander, which also stands out for its responsible banking, its global leadership in financing renewable energy and advising on ESG projects (factors environmental, social and corporate governance). We thank you for your support in achieving our priority goal of achieving carbon neutrality by 2030. The great innovations and technological advances of F1 carry over to the entire industry, benefiting society as a whole”.

For 70 years, F1 and the investment of the teams have served as a test bed for some technological advances, from aspects of aerodynamics to the design of the brakes, which has allowed the automotive sector to fight carbon emissions. Since 2014, the fuel efficiency of F1 cars has improved by 50%. In 2026, F1 plans to introduce the new Formula 1 engine (second generation hybrid power unit), which will be carbon neutral and carry advanced sustainable fuel.

Ferrari is streamlining racing logistics operations with less weight in transport and the elimination of single-use plastics, among other things. This year, Scuderia Ferrari achieved the FIA ​​three-star Environmental Accreditation.

Banco Santander was already part of Formula 1 from 2007 to 2017 and had a successful alliance with Scuderia Ferrari since 2010. In addition to F1, Santander is also one of the main soccer sponsors in Europe and Latin America. He is currently the main sponsor of LaLiga Santander in Spain and one of the main sponsor of Conmebol Libertadores. Santander also collaborates with multiple popular sports in its markets in Europe and America.

Banco Santander (SAN SM, STD US, BNC LN) is a commercial bank founded in 1857 with headquarters in Spain. It has a relevant presence in 10 key markets in the European, North and South American regions, and is one of the largest banks in the world by market capitalization.

Its mission is to contribute to the progress of people and companies by doing things in a simple, personal and fair way. Santander is making progress in responsible banking and for this it has set several objectives, including facilitating more than 120,000 million euros in green financing from 2019 to 2025 and the financial inclusion of more than 10 million people in the same period.

At the end of the third quarter of 2021, Banco Santander had 1.1 trillion euros in total customer resources, 152 million customers, of which 24.7 million are linked and 47 million are digital, 9,900 branches and 193,000 employees.


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