External commitments and reporting standards
A strategic priority of NatWest Group is to be powered by partnerships, and progress across our three focus areas can only be achieved with collaboration.
Race to zero
NatWest Group has become one of 43 founder banks to join the Net Zero Banking Alliance and is proud to be a member of the new Glasgow Financial Alliance for Net Zero (GFANZ) a coalition of over 160 financial services companies that are part of the UN Race to Zero campaign. The Alliance have pledged to work together to help deliver the Paris Agreement by using science-based guidelines to reach net zero emissions by 2050 with 2030 interim targets.
Powering Past Coal Alliance
NatWest Group has joined the Powering Past Coal Alliance (PPCA), a coalition of businesses, governments and organisations working to advance the transition from coal power generation to clean energy.
NatWest Group has an ambition to be the leading bank in the UK and Ireland in helping to address the climate challenge. We will plan a phase out of coal for UK and non UK customers who have UK coal production, coal fired generation and coal related infrastructure by 1 October 2024 and plan a full phase out of coal by 1 January 2030. To view full details of our Power Generation and Mining and Metals policies, please visit ESE & reputational risk management.
We recognise there is still more work to do in relation to identifying indirect exposure to coal through third party funds. We are committed to supporting our customers through a relationship-led approach as we all transition to a low-carbon economy. As such, we are engaging with data providers and through collaborative groups such as Climate 100+ in recognition that this is an industry wide challenge.
We are aware of the increasing importance of providing our investors and other stakeholders with relevant and meaningful sustainability information. Please see below to find out more about our alignment to several industry reporting standards:
Please read our 2020 Environmental, Social and Governance Supplement (PDF 13MB) in full for more details on how we collaborate with others.