NatWest Group has appointed climate change expert Lord Nicholas Stern as an independent climate change advisor.
Lord Stern is currently the Chair of the Centre for Climate Change Economics and Policy (CCCEP) and the Chair of London School of Economics’ Grantham Research Institute – in his new role he will provide independent advice, guidance and challenge to senior executives and management, as well as inform the implementation and delivery of the bank’s sustainability targets.
Lord Stern said: “There is an intense urgency to tackle climate change now – this is an absolutely crucial decade for taking action to protect future generations. The coronavirus pandemic has highlighted the dangers, fragility and inequities of the old economy.
“The necessary investments can drive both a strong recovery in output and employment and a new and attractive model of low-carbon development which will be the growth story of the 21st century. We now have an opportunity to build back better. It is crucially important for financial institutions to rise to the climate emergency and I will provide independent advice and guidance to NatWest Group to help it meet its climate ambitions.”