Fuelling energy efficient mobility
Adoption of electric vehicles plays an important role in decarbonising the UK’s mobility system and our €750 million Clean Transportation (Electric Vehicles) Green Bond, issued in August 2024, underscored our commitment to supporting customers in their transition to net zero.
This issuance made NatWest Group the first UK bank to issue a green bond exclusively for financing and re-financing electric vehicles. As at 31 December 2024, the bond proceeds had been allocated to almost 19,000 electric vehicle loans provided by our asset finance business Lombard, covering electric cars and light commercial vehicles.
Supporting the UK social housing sector
We issued our second Affordable Housing Social Bond in September 2024, with the proceeds of this €1 billion issuance allocated towards financing or refinancing loans to not-for-profit, registered housing associations in the UK. Through our two Affordable Housing Social Bonds, as at 31 December 2024 we supported 41 housing associations across the UK.
Additionally, we have an ambition to provide £7.5 billion in lending to the UK social housing sector from 1 January 2024 to 31 December 2026. Through this, we aim to help boost the availability and quality of UK social housing, supporting the UK economy in doing so.
Succeeding with customers
Beyond our new issuances, the proceeds of our previously issued green and social bonds continued to support positive outcomes, including contributing to the decarbonisation of the UK’s energy and housing sectors, and promoting female entrepreneurship.
2024 saw continued growth in GSS bond issuances at a global level, with corporates and governments continuing to seek funding for their sustainability commitments and appetite from investors remaining resilient. In 2025 and beyond, we will continue to monitor the external market and assess opportunities with the potential to contribute to positive financial, customer and societal outcomes.
