Monday 27 July 2020

NatWest Group becomes ‘UK’s first’ bank to join the Partnership for Carbon Accounting Financials

NatWest Group has become the 'UK's first' major bank to join a global initiative, which enables financial institutions to assess and disclose greenhouse gas emissions of loans and investments.

The 'Partnership for Carbon Accounting Financials' programme currently includes nearly 70 banks and investors from five continents.

The first step of the collaboration will see participants assess climate-related risks of the financial activities, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonise the global economy.

Katie Murray, Chief Financial Officer of NatWest Group, said: “We are determined to lead on the collaboration and cooperation that is so critical to tackling the causes of climate change and transitioning to a low carbon economy.

“We are therefore delighted to be joining forces with other leading financial institutions to develop methods for financial institutions to transparently disclose the environmental impact of their financing.”

NatWest Group has set a goal of at least halving the climate impact of its financing activity by 2030.

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