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NatWest Group is a signatory to a number of voluntary sustainability commitments and standards. We are committed to working with peers and other stakeholders to implement these across our business.
UNEPFI Principles for Responsible Banking
Founding Signatory of:
NatWest Group is one of the Founding Signatories of the Principles for Responsible Banking, committing to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change.
The Principles for Responsible Banking provide the framework for a sustainable banking system that responds to and drives today’s expanding global sustainable development economy, and guide the banking industry to align itself with society’s goals as expressed in the Sustainable Development Goals and the Paris Agreement.
NatWest Group signed up to the United Nations Environment Programme Finance Initiative’s Collective Commitment to Climate Action (CCCA). The CCCA sets out how banks will align their services and lending with the objectives of the Paris Agreement.
NatWest Group are the first major UK bank to sign up to the Partnership for Carbon Accounting Financials (PCAF). PCAF is a collaboration between financial institutions worldwide to enable harmonized assessments and disclosures of greenhouse gas emissions financed by loans and investments.
Coutts signed up to the Principles for Responsible Investment (PRI), an independent organisation supported by the United Nations, which encourages investors to use responsible investing to enhance returns and better manage risks. The Principles for Responsible Investment are a voluntary and aspirational set of investment principles that offer a menu of possible actions for incorporating ESG issues into investment practice. PRI reporting is the largest global reporting project on responsible investment.
We have publicly committed to support the Task Force on Climate-related Financial Disclosures (TCFD). The Task Force, chaired by Michael Bloomberg and established by the Financial Stability Board (chaired by the Governor of the Bank of England Mark Carney) has developed recommendations on climate-related information that companies should disclose to help investors, lenders and others make sound financial decisions.
We are a member of the Equator Principles (EP) Association Steering Committee. The EPs are a voluntary set of standards adopted by banks for determining, assessing and managing social and environmental responsibilities in project financing. We will not provide project finance where the borrower will not, or cannot, comply with these principles.
UN Global Compact
We have been a signatory of The UN Global Compact (UNGC) since 2003. The UNGC is a platform for the development, implementation and disclosure of responsible policies and practices for human rights, labour, environment and anti-corruption.
The UN Environment Programme Finance Initiative (UNEPFI) is a partnership between the UN Environment Programme and the global financial sector. Its mission is to identify, promote, and realise the adoption of best environmental and sustainability practice at all levels of financial institution operations. NatWest Group is a signatory to the UNEPFI Statement (1997).
NatWest Group is a fully accredited Living Wage Employer. We gained accreditation in 2014. NatWest Group’s commitment as a Living Wage accredited employer applies to everyone working for the Bank in the UK and has been extended to staff who are employed via suppliers (e.g. cleaning, security and catering staff). Employees are regularly consulted on their working conditions and a confidential helpline is available at all times.
NatWest Group contributed to the Thun discussion paper on the implications of UN Guiding Principles 16-21 for banks, which was launched in 2013. We are committed to the implementation of these Guiding Principles on Human Rights within the bank.