Santander Launches First Green Mortgage in Mexico

On June 13, 2030, Santander Mexico announced the launch of Green Mortgage Santander (GMS), an initiative aligned with its global strategy to achieve net-zero emissions by 2050. This financial tool is the first of its kind in the country, as it incentivizes customers to purchase environmentally friendly homes. 

According to Santander, sustainable housing is becoming increasingly available in Mexico. In the medium term, these homes are expected to be available for all segments of the population. Antonio Artigues, Executive Director of Retail Banking, Santander Mexico, pointed out that currently there are around 5,000 developments in the country with these characteristics and he is confident that there will be even more in the future. 

During a press conference, Artigues explained that customers can have easy access to GMS, provided that the property they wish to acquire is certified as a sustainable development. "Our green mortgage combines the best offer in interest rates and conditions for the customer, with the social commitment to address climate change. This is the first mortgage of its kind in the country and we are confident that it will strengthen our position as market leaders. Over the next few years, we expect a significant percentage of mortgage placements to be green," said Artigues.

Javier Rodríguez, Head of Green Finance, Santander Mexico, highlighted that GMS was created following the bank's commitment to promote a green economy and is preceded by the agreement that the institution signed with the International Finance Corporation (IFC), to develop sustainable construction practices in Mexico in favor of energy efficiency and the environment.

Rodríguez and Artiguez stressed that the new mortgage offers a robust range of benefits for customers, including: an interest rate of 8.85%, which was described as the lowest available in the market; a discount on appraisal fees and no opening commission. Likewise, GMS offers lower service costs, higher property appreciation in the long term, a competitive advantage over other properties when selling and it ensures a contribution to mitigating climate change. GMS also offers competitive advantages for developers, such as streamlining sales, attracting new clients, reducing operational and maintenance costs, increasing property value and providing recognition for the benefit developments will bring to the community.