JANUARY-FEBRUARY , 2023 | @ green
FOREIGN NEWS
07
Santander among 2022 ’ s most sustainable banks
The bank continues to progress toward achieving net zero carbon emissions group-wide by 2050
THE Dow Jones Sustainability Index 2022 ranks Santander among the world ’ s most sustainable banks and the top three in Europe . The bank obtained 83 out of 100 points , placing it in the 98th percentile of all banks evaluated . Since 1995 , Santander has been included on the Dow Jones Sustainability Index .
This international corporate sustainability standard index analyses corporations ’ sustainable performance based on economic , environmental , and social parameters .
The bank received high marks in all categories : economic ( 86 ), environmental ( 76 ), and social ( 86 ). ( 83 ). The study also identified areas where the bank has made progress , including financial inclusion , environmental and social reporting , climate strategy , privacy protection , and customer relationship management .
Santander has performed well in other comparable indices , such as MSCI , Sustainalytics , CDP , ISS , Bloomberg Gender-Equality Index , FTSE4Good Index , and Moody ’ s Vigeo Eiris .
According to Infralogic ’ s ranking , the group finished the first half
THE US $ 311 million Regional Emergency Solar Power Intervention Project ( RESPITE ) approved recently by the International Development Association ( IDA )* would benefit electricity customers in Chad , Liberia , Sierra Leone , and Togo .
The new project comprises a US $ 20 million grant to facilitate regional power trade and develop the West Africa Power Pool ( WAPPinstitutional )’ s and technical capacities to fulfil its regional purpose .
RESPITE aims to rapidly boost grid-connected renewable energy capacity and regional integration in member nations . It will fund 106 megawatts of solar photovoltaic with battery energy and storage systems , 41 megawatts of hydropower capacity augmentation , and electricity distribution and transmission initiatives across the four countries .
of the year as the global leader in renewable energy finance , with almost € 2.4 billion in 33 funding transactions and a 6.4 per cent global market share . Santander has been a major bank in renewable energy finance over the past decade , ranking among the top three in the world in terms of the number of transactions and the top five in terms of funding volume .
Santander continues to progress toward achieving net zero carbon emissions group-wide by 2050 , per the Paris Agreement , through its support for the fight against climate change and the green transition .
This year , Santander established three new interim goals to decarbonise its portfolios by 2030 : a 29 per cent decrease in absolute emissions financed by the energy sector , a 33 per cent reduction in emissions intensity for the aviation sector , and a 32 per cent reduction in emissions intensity for the steel sector .
The aims are in addition to those announced by the Group in February 2021 , which included a
West Africa gets US $ 311m for grid-connected renewable energy
West Africa has Sub-Saharan Africa ’ s lowest electrification rate and highest electricity prices . Rising oil prices have raised electricity utilities ’ liabilities , threatening countries ’ economic growth with a power supply crisis . The new project supports several solutions that assist the countries and region .
Rhonda Jordan-Antoine , World
46 per cent reduction in emissions financed by the power generation industry .
Santander is committed to assisting customers with their green shift to reach these objectives . Santander remains committed to allocating € 220 billion for green financing between 2019 and 2030 and has established a 2025 intermediate objective of € 120 billion . Mobilised as of September 2022 was € 78.7 billion .
In addition , Santander has empowered more than nine million residents financially by providing access to the banking system , financial education , and funding for individuals and small and medium-sized enterprises with credit access challenges .
It has provided more than 387,000 scholarships and grants and has assisted over six million individuals through its community investment projects in collaboration with NGOs and other social organisations . The bank was named The Banker magazine ’ s Global Bank of the Year for Financial Inclusion .
Bank Task Te , said : “ It will provide fiscal space for countries to address food crisis resulting from the war in Ukraine , initiate the development of competitively tendered grid-connected clean energy to alleviate current power supply crisis , positively address climate change by helping countries move away from expensive and polluting fuels , and
Georgia begins using electronic registry for origin guarantees for renewables
THE Georgian State Electrosystem was the first issuing body to execute an agreement with the service provider on the launch of the national electronic registry for renewable energy guarantees of origin . Guarantees of origin allow consumers to choose their energy source and contribute to the energy transition . They facilitate business Power Purchase Agreements .
Director Lorkowski said : “ I would like to congratulate Georgia for being the first Contracting Party to sign an agreement with the service provider Grexel and encourage others to follow its example . In particular , in times of crisis , we need to utilise all available mechanisms to boost renewables .”
Georgian State Electrosystem Board Member Zviad Gachechiladze thanked the Energy Community Secretariat for their outstanding support in getting the electronic registry for guarantees of origin up and running , as well as the whole team at Grexel .
“ We are looking forward to start issuing guarantees of origin in line with EU standards and , hopefully soon , trading guarantees of origin with other Contracting Parties and EU Member States ,” stated Gachechiladze .
From January to July 2022 , the Energy Community Secretariat built computerised guarantees of origin registries for Albania , two entities in Bosnia and Herzegovina , Georgia , Kosovo , North Macedonia , Moldova , Montenegro , and Ukraine . After direct agreements between the Contracting Parties ’ issuing bodies and Grexel , all nine registrations are online . The service provider ’ s regional system lets Contracting Parties transfer guarantees of origin after signing an agreement .
Agreements must be signed by June 2023 . The service provider will hold all configurations and national registries until this date .
help synchronise the WAPP network to enhance regional integration in the energy sector .”
The initiative has created a regional approach to boost power trade in West Africa and improve electricity reliability in beneficiary nations .
“ RESPITE provides benefits that spill over country boundaries and complements existing regional integration efforts in the energy sector involving all member states of the Economic Community of West African States ( ECOWAS ),” said Boutheina Guermazi , World Bank Director for Regional Integration for Sub-Saharan Africa , the Middle East , and Northern Africa .
“ It delivers economies of scale , improves regional commerce through investments in transmission and generating infrastructure to integrate the markets physically , and develops regional public good by facilitating knowledge sharing and capacity building .” – @ Green