51535 - Santander Br Eco

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Summary of Investment Information

Project Number

51535

Company Name

BANCO SANTANDER BRASIL SA

Date SPI Disclosed

Nov 6, 2025

Country

Brazil

Region

Latin America and the Caribbean

Projected Board Date

Dec 8, 2025

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jan 9, 2026

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Dec 15, 2025
Signed : Dec 19, 2025
Invested : Jan 7, 2026

Sector

Commercial Banking - General

Project Description

The proposed investment consists of a senior unsecured A Loan of up to US$150 million and a B Loan of up to US$150 million to Banco Santander (Brasil) S.A. (“Santander Brasil” or “the Bank”), an existing IFC client since 2009. The proposed investment aims to complement the Bank’s lending to sustainable projects, with a focus on (i) assets eligible under the Brazilian Government’s Eco Invest Program (“Eco Invest”) and (ii) blue assets, supporting the blue economy. Other sustainable asset categories are also expected to be eligible under the facility such as hybrid and electric vehicles for individuals, sustainable agribusiness practices, and solar panels for individuals (and potentially small and medium enterprises for self-consumption).

Associated Advisory Engagement

Not applicable.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	150.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Syndications	Long Term Loans to Corporates
Straight Senior Loan	Long Term Loans to Corporates

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

The Project is expected to deliver substantial environmental and social benefits by supporting Santander's growth in its sustainable finance portfolio. Specifically, the financing will help the bank fund its commitment under the Brazilian government's Eco Invest program to finance US$1.2 billion in Eco Invest assets. Furthermore, 30% of the proceeds are expected to be on-lent to blue assets, a relatively new asset class in Brazil. As Santander builds a track record in this segment, other banks are expected to replicate its efforts and catalyze a broader shift in lending practices, embedding resilience and sustainability into their mainstream credit portfolios.

IFC’s financing provides significant additionality to Santander by offering long-term, stable foreign funding of up to US$150 million, in contrast to most of the Bank’s foreign funding, which typically matures in less than three months. In addition, IFC expects to mobilize up to US$150 million from commercial lenders. This foreign capital will directly support Santander's commitment under the Eco Invest program to raise US$1 billion in foreign funding for on-lending to Eco Invest-eligible projects, thereby helping Santander secure additional blended finance from the Brazilian government.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Number of Outstanding Climate Loans	number		Not Available	Not Available	Not Available
Volume of Outstanding Climate Loans	USD M		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The proposed investment consists of an up to US$150 million senior A loan and an up to US$175 million B loan to Santander Brasil (the “Bank”), to support its lending program to sustainable sub-projects, with a focus on (i) assets eligible under the Brazilian Ecoinvest program and (ii) sustainable agribusiness practices, and (iii) blue assets, supporting the sustainable use and health of marine and coastal resources. Other sustainable assets categories are also expected to be eligible under the facility such as hybrid and electric vehicles for individuals, and solar panels for individuals and small and medium enterprises — intended for self-consumption — are expected to be eligible under the facility.

As the potential E&S risks and impacts associated with the use of proceeds are expected to be medium in nature, since the proposed portfolio is expected to be comprised of sub-projects that have limited, generally site specific, largely reversible, and readily managed through standard mitigation measures, the project is categorized as FI-2 in accordance with IFC’s Sustainability Framework. IFC’s applicable E&S requirements for this project will be the IFC Exclusion List, relevant E&S laws and regulations, as well as screening out higher-risk sub-projects, such as (i) involuntary resettlement; (ii) risk of adverse impacts on indigenous peoples; (iii) significant risks to or impacts on the environment, community, health and safety, biodiversity or cultural heritage; (iv) retrenchment; or (v) significant occupational health and safety risks (e.g., risk of serious injury or fatality to workers), as per the IFC Guidance Note on Financial Intermediaries (2023). For the portion of the facility that qualifies under the Brazilian Ecoinvest Program or is classified as blue financing within the facility, screening in accordance with the IFC Performance Standards will also be required, as applicable, in line with the Bank’s ESMS.

Santander Brasil has an ESMS aligned with the Santander Group’s responsible finance strategy and global risk policies. The Bank manages E&S risks within a comprehensive risk framework, employing a transversal governance structure overseen by the Board of Directors and supported by dedicated forums, working groups, and a specialized full-time E&S team. The ESMS process encompasses the identification, assessment, classification, mitigation, and reporting of E&S risks, with its scope determined by the client’s economic activity and the relevant business line. Clear criteria are established to cover prohibited activities, assess sub-clients' E&S risk management capabilities, and categorize sub-projects according to their E&S risk exposure. This framework enables the Bank both to exclude higher-risk sub-projects, as required under the terms of the facility, and to manage the E&S risks within its portfolio. Santander Brasil has a communication channel dedicated to facilitating engagement between the Bank and its stakeholders, both internal and external to the organization.

As part of this project, Santander Brasil will be required to maintain its existing E&S risk screening procedures to assess and manage risks associated with the supported asset classes. The Bank will remain committed to applying its labor standards, which are broadly aligned with the requirements of IFC Performance Standard 2 (Labor and Working Conditions), and encompass policies and procedures to address sexual exploitation, abuse and harassment (SEAH), including a grievance mechanism. Santander Brasil will provide periodic report to IFC. Santander Brasil will also be required to seek consent to disclose sub-projects of US$ 20 million equivalent or more, on a yearly basis – including names and locations

Contacts

For Inquiries About the Project, Contact

Banco Santander (Brasil) S.A.
Carolina Haddad Baruque de Farias
Manager
+551135530673
chbfarias@santander.com.br
Brazil, São Paulo. Avenida Juscelino Kubitschek, 2235 e 2241, Zip Code: 13571-410
https://www.santander.com.br/

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
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Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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