Santander Joins Lenders Pledging Net Zero Emissions by 2050

Banco Santander SA pledged to support the goals of the Paris Agreement on climate change and achieve net zero carbon emissions by 2050, including client emissions resulting from its financing, advisory or investment services.

As part of the commitment, Spain’s largest bank will stop providing services by the end of the decade to power generation clients with more than 10% of revenues from thermal coal and will cut all exposure to thermal coal mining, according to a statement Monday.

“Climate change is a global emergency,” said Chairman Ana Botin. “As one of the world’s largest banks, with 148 million ...