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March 30, 2021

Santander AM joins Net Zero Asset Managers

By Patrick Brusnahan

Santander Asset Management (AM) has joined the Net Zero Asset Managers initiative which aims to achieve zero net carbon emissions with its assets under management (AuM) by 2050.

In fact, Santander AM has become the first asset manager in Spain to join the group aiming for net zero. It also aligns with the Banco Santander group’s target to make all financing, advisory and investment services carbon neutral by 2050.

Net Zero Asset Managers currently has 73 signatories with a combined $32trn in AuM. it launched at the Climate Ambition Summit 2020, co-convened by the UK Presidency of COP26, the UN and France, on 12 December 2020.

“At Santander Asset Management we’re firmly committed to reducing CO2 emissions, supporting the ecological transition and contributing to a more sustainable world. Joining Net Zero Asset Managers is another step towards our goal of setting the benchmark in Europe and Latin America for ESG. It’s also an opportunity to continue offering our clients innovative investment solutions that match their interests and social concerns,” said Mariano Belinky, global CEO of Santander Asset Management.

Santander AM was also the first fund manager to launch a range of sustainable funds comprising a green bond fund (Santander Sostenible Bonos), two hybrid funds with different exposure to equities (Santander Sostenible 1 and 2) and a pure equity fund that pledges part of its management fee to NGOs (Santander Sostenible Acciones).

In 2018, it created the first gender equality-led fund, Santander Equality Acciones. In addition, Santander Responsabilidad Solidario is an ethical hybrid euro fixed-income fund that has donated more than €18m in the last six years. Santander AM currently has a total of 23 SRI funds: 16 in Spain, two in Brazil and in Luxembourg, and one in Portugal, Mexico and Chile.

In May 2020, Santander AM became Spain’s first global entity to join the Institutional Investors Group on Climate Change (IIGCC), the European body for investor collaboration on climate change for investors committed to a low-carbon future.

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