Natwest pledges £100bn to climate and sustainability funding
NatWest Group has announced a new target to provide £100bn of Climate and Sustainable Funding and Financing (CSFF) by the end of 2025.
Part of this new CSFF target will help to support the investment needed to transition the UK to a net zero economy and will help to support the bank’s customers including SMEs on their transition to a net zero and a more sustainable economy.
Natwest will also remove “Nuclear” and “Energy from Waste” from its CSFF inclusion criteria, and not count these ventures towards its £100bn pledge.
In 2019, Natwest announced a target for £20bn funding and financing for climate and sustainable finance between 2020 and 2022 which was brought forward from 2022 to 2021.
In H1 2021, NatWest exceeded its 2020-2021 target of providing £20bn of climate and sustainable funding and financing six months early with the delivery of £21.5bn.
According to the bank, its aims to at least halve the climate impact of its financing activity by 2030, to reach net zero by 2050, and make operations “Climate Positive” by 2025.
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