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 ESG ratings and benchmarks

We recognise the importance our investors place on ESG ratings in understanding our performance compared to industry standards and peers. Throughout the year, we have continued to engage with a number of ESG rating agencies, supporting our desire to provide stakeholders with the information they need to make informed decisions.

 

NatWest Group has continued to proactively respond to a number of key ESG surveys and sustainability assessments, achieving above industry average in several benchmarks.(1)

1.       As at January 2024 we have retained our ESG rating of C+ and Prime status with ISS ESG, scoring in the top performing organisations in the industry.

2.       In October 2023, NatWest Group received an ESG Risk Rating of 19.8 and was assessed by Morningstar Sustainalytics to be at Low Risk of experiencing material financial impacts from ESG factors.(2)

3.       In December 2023, NatWest Group received a rating of AA (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment.(3)

4.       NatWest Group scored 51 (out of 100) in the 2023 S&P Global Corporate Sustainability Assessment. As of 31 December 2023, we performed in the 87th quintile in the Banks Industry in the S&P Global Corporate Sustainability Assessment.

Additionally, in the 2023 CDP Climate Change questionnaire we achieved a score of A (2022: B), against a Financial Services average of B. We continue to further integrate climate-related considerations within business processes and support the transition to a net-zero economy.

Benchmark
2020
2021
2022
2023
Scale (best to worst score)

CDP (Climate Change)

A-

B

B

A

A to D-

CDP Industry average

B

B

B-

B

S&P Corporate Sustainability Assessment (CSA)

41

63

61

51

1 to 100

ISS ESG

C

C

C+

C+

A+ to D-

ISS ESG Prime status

Prime

Prime

Prime

Prime

Sustainalytics Risk Report2

20.5

17.3

17.4

19.8

Negligible to Severe

1 to 100

MSCI ESG3

AA

AA

AA

AA

AAA-CCC

FTSE4Good4

Included

Included

4.3/5

4.5/5

5 to 0

 

Footnotes:

(1) The ESG ratings presented on this page are ratings that (i) have been updated in 2023/24 on NatWest Group (or its subsidiaries), and (ii) we have determined provide meaningful benchmarking against our peers and industry standards. These ratings are unsolicited and not a sponsorship, endorsement, or promotion of NatWest Group by the relevant rating provider, nor a warranty. Currently, ESG rating providers are not regulated like credit rating agencies. Some ESG ratings providers only rely on public information and outputs may be subject to data gaps. ESG rating providers use different definitions, scope and methodologies leading to variation in ESG ratings for any given company. The ESG ratings presented on this page are ratings that (i) have been updated in 2023/24 on NatWest Group (or its subsidiaries), and (ii) we have determined provide meaningful benchmarking against our peers and industry standards. These ratings are unsolicited and not a sponsorship, endorsement, or promotion of NatWest Group by the relevant rating provider, nor a warranty. Currently, ESG rating providers are not regulated like credit rating agencies. Some ESG ratings providers only rely on public information and outputs may be subject to data gaps. ESG rating providers use different definitions, scope and methodologies leading to variation in ESG ratings for any given company.

(2) Copyright © 2024 Morningstar Sustainalytics. All rights reserved. This publication contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics. com/legal-disclaimers.
(3) The use by NatWest Group of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein do not constitute a sponsorship, endorsement, recommendation, or promotion of NatWest Group by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided “as-is” and without warranty. MSCI names and logos are trademarks or service marks of MSCI.

For more information, please see page 46 of our 2023 ESG Disclosures Report.

Related content

Read more about how the diverse awards we have reinforce our determination in aiming to make a difference for our stakeholders. 

Read more about our underlying reports and policies.

Read more about our signatories, memberships, and accreditations.