After four years of absence, Santander Bank will return to Formula 1, after sealing an alliance that makes it, once again, an official sponsor of Scuderia Ferrari.
Before his departure from the Formula 1 In 2017, Santander was a sponsor of Ferrari since 2010, a team to which the Spanish driver, Fernando Alonso, once belonged. Now another Spaniard, Carlos Sainz, is part of this team and finished in fifth place in the championship that just ended.
Santander He explained that, with this alliance, the entity will have a relevant presence in the car, the race kit and the cap.
But also, as part of the agreement, Santander will offer Scuderia Ferrari a wide range of solutions to support its plans to be carbon neutral in 2030.
“We are very excited to be working with Ferrari again and supporting 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 ”, expressed Ana Botín, president of Banco Santander.
While, John elkann, President of Ferrarisaid: “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 (environmental, social and government factors). corporate). We thank him for his support in achieving our priority goal of achieving carbon neutrality by 2030. The great innovations and technological advances of F1 are carried over to the entire industry, benefiting society as a whole. “
Santander Bank He was already part of the Formula 1 from 2007 to 2017 and had a successful partnership 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. It also collaborates with multiple popular sports in its European and American markets.
Many followers in its main markets
Santander mentioned that Formula 1 is one of the sports with the largest number of followers in the world, and had a cumulative audience of 1.5 billion in 2021, according to Nielsen, of which about half is in the bank’s markets in Europe (Spain, United Kingdom, Germany , France, Italy, among others) and America (Brazil, Mexico, United States).
“For 2022, 23 Grand Prixes have been confirmed and several will take place in the main markets of Santander. F1 has announced its goal of being a net zero emissions competition by 2030 ”, he pointed out.
Green strategy
The bank of Spanish origin, argued that in 2020 it was the first in the world 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 car finance bank’s businesses in Europe (Santander Consumer Finance), the United States (Santander Consumer USA) and other markets are supporting the development of sustainable mobility solutions,” he said.
F1 strategy against carbon emissions
Santander reported that for 70 years, the F1 and the investment of the equipment 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 combat carbon emissions.
As an example, he noted that since 2014, the fuel efficiency of F1 cars has improved by 50%. “In 2026, F1 plans to present the new engine of Formula 1 (second generation hybrid power unit), which will be carbon neutral and will carry advanced sustainable fuel ”.
As for Ferrari, it was explained that it is rationalizing racing logistics operations with less weight in transport and the elimination of single-use plastics, among other things.
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