The transition to net zero is a journey, not a moment in time. This report sets out the progress we made in 2023 – a year in which the transition was buffeted by war, new geopolitical risks, and the impact of higher interest rates. Despite these pressures, Santander made further progress. We stepped up activities in green finance. We’ve mobilized EUR 115.3 billion in green finance since 2019, taking us towards our 6-year target of EUR 120 billion by 2025. We strengthened our position as a global leader in renewables: the greenfield renewable energy projects Santander participated as financier or advisor in 2023 will have enough installed capacity to power 10.1 million homes a year. At the end of the year, we had a stock of EUR 22.6 billion in mortgages aligned with the EU Taxonomy. In Europe we financed more than 208,000 new electric vehicles, with volume of EUR 6.5 billion. This equals a market share of EV sales in Europe of over 10%.
