THE Santander Bank is the new sponsor of Scuderia Ferrari, in partnership that will carry the institution’s logo in prominent places on the car, racing kit and team caps. As part of the agreement, the bank will further support and provide solutions for Ferrari to become carbon free by 2030.
A Formula 1 it is one of the sports with the highest number of fans in the world, reaching an audience of 1.5 billion viewers by 2021, according to Nielsen Sports. For the 2022 season, 23 Grand Prix events have already been confirmed, some of them in the Bank’s main markets.
“We are very excited to be working with Ferrari again and supporting them in their green transition. Santander is committed to the fight against climate change and, as the leading car finance company in Europe, we are here to help build a sustainable automotive industry,” he says. Ana Botín, president of Banco Santander. “This alliance with Ferrari will accelerate the development of the two companies in this area”, he concludes.
Santander has been carbon neutral since 2020 and has the ambition of achieving zero net emissions, promoting sustainable alternatives for its customers who still issue, whether in financial services, advice or investment offered by the bank. The institution was considered a global leader in financing renewable energy and is concerned with causes involving the environment.
John Elkann, President of Ferrari, said: “It is an honor to partner with a global financial leader such as Banco Santander, which also stands out for its responsibility, its global leadership in renewable energy financing and in advising on ESG projects ( environmental, social and corporate governance factors). We thank the Bank for its support in achieving our priority goal of achieving carbon neutrality by 2030. F1’s great innovations and technological advances are transported throughout the industry, benefiting society as a whole.”
For 70 years, investments by F1 and the teams have served as a test bed for some technological advances, ranging from aspects of aerodynamics to brake design, which have enabled the automotive sector to combat carbon emissions. Since 2014, the fuel efficiency of F1 cars has improved by 50%. In 2026, F1 plans to introduce the new Formula 1 engine – second-generation hybrid – which will be carbon neutral and will use sustainable fuel. All this to achieve the goal of being a net zero competition by 2030.
Ferrari is streamlining the logistical operations of the races by transporting lighter weight and eliminating single-use plastics, among other measures. In 2021, Scuderia Ferrari achieved the FIA’s three-star Environmental Accreditation.
Banco Santander was part of Formula 1 from 2007 to 2017 and had a successful alliance with Scuderia Ferrari since 2010. In addition to F1, Santander is also one of the main sponsors of football in Europe and Latin America, in addition to collaborating with several popular sports on both continents.
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