Banco Santander topped the Global Fortune 500 list of companies that invest in education through Corporate Social Responsibility (CSR) initiatives, according to the first global study published by the Varkey Foundation in collaboration with UNESCO.

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Santander News Universities
Santander, the world's largest corporate
contributor to education
Madrid, 26
th
January 2015-. Banco Santander topped the Global Fortune 500 list of companies
that invest in education through Corporate Social Responsibility (CSR) initiatives, according to the
first global study published by the Varkey Foundation in collaboration with UNESCO.
The report finds that the majority of CSR investment in education originates from “just a few
companies”. According to the Global Fortune 500 list, the 10 companies that allocate the most
funds to the cause are: Banco Santander, which, with annual investments totalling EUR 142
million, ranks first, followed by IBM, Telefónica, Exxon Mobil, Target, GlaxoSmithKline, Microsoft,
Toyota Motor, Rio Tinto Group, and Wells Fargo. The study based its figures on the average totals
from 2011 and 2013.
The report indicates that the eight Spanish companies featured on the Global Fortune 500 list have
dedicated more to CSR than the 29 German firms (nearly EUR 437 million) and have allocated
three times more to education (over EUR 291 million in comparison with nearly EUR 96 million).
According to the analysis, taken together, the eight Spanish concerns invested more than EUR 548
million in CSR activities, EUR 291 million (or 53%) of which was dedicated to education. Three
financial and telecommunications companies accounted for 87% of this contribution, with Banco
Santander being the largest benefactor.
Roughly 70% of the EUR 291 million contributed by the eight Spanish companies was allocated to
higher education, and another 16% to primary and secondary education. Of the total (EUR 291
million), EUR 159 million was distributed to priority areas like Africa, Asia, the Pacific and Latin
America.
The Bank is the largest contributor to global education, focusing primarily on Latin America. It
states that Banco Santander differentiates itself among the major banks because CSR is not
interpreted by default to mean financial inclusion activities in local communities.
More than 75% of Banco Santander’s CSR investment is allocated to universities. The Bank
maintains strategic, long-term partnerships to support the internationalisation and modernisation of
academic institutions, the mobility of students and teachers, job growth, and entrepreneurial
development. For example, in 2013, Santander awarded more than 22,400 grants, and the Bank
continues to maintain over 1,100 agreements, through Santander Universities, with educational
facilities around the world.
Since 1996, Santander Universities has formed the backbone of the Bank’s social activity,
allocating more than EUR 1 billion to various university projects and collaborating in the
development of more than 4,400 initiatives each year. Nearly 2,200 employees coordinate and
manage the Bank’s commitment to higher education.
The Fortune Global 500 list is a ranking of the top 500 companies worldwide by revenue. The list is
compiled and published annually by Fortune magazine.