Bloomberg Markets Magazine has compiled a list of the world’s greenest banks and Banco Santander of Spain tops the list. Staff at Bloomberg ranked banks in two key environmental areas: making clean-energy investments and reducing environmental impact.

 

The environmental investments score, which is weighted at 70 percent of the overall score, assessed the bank’s financial investments in both public and private renewable energy projects between 2004 and 2010. The environmental impact score took into account the bank’s efforts to reduce water use and air pollutants and energy efficiency improvements.

 

Banco Santander was the second highest-scoring bank in the clean energy investment category and the 11th ranked bank in reducing environmental impact. Although it didn’t earn the top spot in either category, it was the highest ranking bank overall and received the designation as the greenest bank in the world.

 

Just behind Banco Santander is Goldman Sachs. The U.S. bank earned the top spot for making clean energy investments but was ranked as the number 35 bank for reducing environmental impact. Obviously the poor environmental impact score affected Goldman Sachs' overall rank.

 

For more information about Banco Santander and the other banks on the list, read Bloomberg Market Magazine's story: Santander Tops Goldman as Green Bank on Deals From Cool Offices.