NatWest to halve climate impacts of its financing by 2030
Published August 4, 2020
NatWest has made a commitment to halve the climate-related impacts of its financing by 2030.
The commitment was made as part of the bank’s decision to become the first major UK bank to sign up to the Partnership for Carbon Accounting Financials (PCAF).
PCAF is collaboration between financial institutions to harmonize assessments and disclosures of greenhouse gas emissions financed by loans and investments.
The commitment is part of the bank’s stated ambition to become a leading bank in the UK in its efforts to address climate change. NatWest Group set itself the target of at least halving the climate impact of its financing activity by 2030 and achieve alignment with the 2015 Paris Agreement.
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.”
Carbon Accounting Financials