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ESG ratings and benchmarks

NatWest Group has continued in its commitment to proactively respond to a number of key ESG surveys and sustainability assessments, achieving above industry average in several benchmarks.

In 2021, we have seen an improvement to our Sustainalytics score which now reflects our embedding of lower risk ESG practices into the business. We continue to be rated “AA” by MSCI, maintaining our strong rating from 2020. We have once again been included in the FTSE4Good index. 

We achieved a B rating in the 2021 CDP Climate Change survey, aligning us with the financial services average. Though our 2021 rating was reduced when compared to 2020, we have continued to seek to further integrate climate-related considerations into the heart of our business, enhance the depth and transparency of our climate-related disclosures and support the transition to a low-carbon economy.

After not participating in the 2020 S&P CSA survey, we decided to engage fully in 2021. We achieved a score of 68/100 which places NatWest Group in the 85th percentile, vs the 60th and 77th percentiles we attained in 2020 and 2019 respectively (where 100 is best). 

In 2021, we maintained our Prime status with Institutional Shareholder Services ESG (ISS ESG), a world leading provider of corporate governance and responsible investment solutions. Prime status is awarded to companies that meet specific minimum requirements in Corporate Ratings and achieve the best ESG scores among their sector peers.  

We eagerly await the 2022 review process from several ESG ratings agencies.

Benchmark
2019
2020
2021*
Scale**

CDP (Climate Change)

B

A-

B

A to D-

Industry average

C

B

B

S&P Corporate Sustainability Assessment (CSA)

71/100

41/100

68/100

100 to 1

Industry average

46/100

39/100

TBC

ISS ESG

C

C

C

A+ to D-

Prime status

Prime

Prime

Prime

Sustainalytics Risk Report

Medium Risk

27.7

Medium Risk

20.5

Low Risk

17

Negligible to Severe

1 to 100

Industry rank (Banks)

242/933

134/975

96/1064

MSCI ESG

BBB

AA

AA

AAA to CCC

FTSE4Good

Included

Included

Included

* Scores correct as of 13 January 2022

** From highest to lowest score

 

TBC indicates an ESG rating which is to be confirmed, pending completion of the review process.

Note: The ESG ratings are to a great extent based on public information and are subject to the assessment and interpretation by the ESG rating agencies. Moreover, the ESG ratings are unsolicited and in many instances NatWest Group may not have the ability to influence the outcome of such ratings.

We continue to respond to the UN Global Compact (UNGC) annually, which signals our support for the universal principles on human rights, labour, environment and anti-corruption.  A copy of our latest UNGC Compact Communication on Progress is available here.