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Home › Banks ›
Bank
NatWest GroupUnited Kingdom

Active

This profile is actively maintained
Last update: 2023-03-17 11:02:00

Active

This profile is actively maintained
Last update: 2023-03-17 11:02:00
About
Website https://www.natwestgroup.com/
Headquarters
36 St Andrew Square
EH2 2YB Edinburgh Scotland
United Kingdom
CEO/chair Alison Rose
CEO
Supervisor
Bank of England
Ownership
listed on London Stock Exchange

Natwest Group's largest shareholder is the UK government, which holds 45.97%  (as of December 2022) of the shares.

NatWest Group, founded in 1727, is a British banking and insurance holding company based in Edinburgh, Scotland. Its main subsidiary companies are The Royal Bank of Scotland, NatWest, Ulster Bank and Coutts. Prior to a name-change in July 2020, it was known as Royal Bank of Scotland (RBS) Group. After a massive bailout in 2008, a majority of RBS' shares were purchased by the UK Government. In 2014 the bank embarked on a restructuring process that saw it refocus on its business in the UK and Ireland. As part of this process it divested its ownership of Citizens Financial Group, the 13th largest bank in the United States, in 2015.

Sustainability
Commitments
Policies
Voluntary standards

NatWest Group's most important sustainability commitments can be found at the website sections listed below.

Links

Environment and climate

ESG policies

2023-02-28 00:00:00

Forestry, Fisheries and Agribusiness Sectors policy

Bank policy
2023-02-28 00:00:00 | NatWest Group
2023-02-16 00:00:00

CSR policy- oil and gas sector

Bank policy
2023-02-16 00:00:00 | NatWest Group
2022-12-31 00:00:00

Human rights position statement

Bank policy
2022-12-31 00:00:00 | NatWest Group
2022-02-28 00:00:00

Mining & Metals Sector policy

Bank policy
2022-02-28 00:00:00 | NatWest Group
2022-02-28 00:00:00

Power sector policy

Bank policy
2022-02-28 00:00:00 | NatWest Group
2022-02-18 00:00:00

Code of Conduct

Bank policy
2022-02-18 00:00:00 | NatWest
2021-10-28 00:00:00

Nature and biodiversity statement

Bank policy
2021-10-28 00:00:00 | NatWest Group
2021-09-02 00:00:00

Defence sector policy

Bank policy
2021-09-02 00:00:00 | NatWest Group
2021-02-23 00:00:00

Approach to climate change

Date listed represents date as accessed on website
Bank policy
2021-02-23 00:00:00 | NatWest Group
2020-07-31 00:00:00

Oil & gas sector policy

Bank policy
2020-07-31 00:00:00 | NatWest Group
2020-07-31 00:00:00

Animal testing sector policy

Bank policy
2020-07-31 00:00:00 | NatWest Group
2020-07-31 00:00:00

Private security companies policy

Bank policy
2020-07-31 00:00:00 | NatWest Group
2020-07-31 00:00:00

ESE risks concerns policy

Bank policy
2020-07-31 00:00:00 | NatWest Group
2020-07-01 00:00:00

Adult entertainment sector policy

Bank policy
2020-07-01 00:00:00 | NatWest Group
2019-05-02 00:00:00

Statement on Tax Evasion

Bank policy
2019-05-02 00:00:00 | RBS
2019-02-04 00:00:00

Statement on Anti-Money Laundering and Sanctions Policies and Procedures

Bank policy
2019-02-04 00:00:00 | RBS
2019-02-04 00:00:00

Statement on Anti-Bribery and Corruption

Bank policy
2019-02-04 00:00:00 | RBS
2018-05-31 00:00:00

Environment statement

Bank policy
2018-05-31 00:00:00 | RBS
2016-06-26 00:00:00

Sustainable Procurement Code

Bank policy
2016-06-26 00:00:00 | RBS
NatWest Group has committed itself to the following voluntary standards:
Banking Environment InitiativeTags:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Collective Commitment to Climate Action (CCCA)Tags: climate change | corporate social responsibility | United Nations
Dow Jones Sustainability IndicesTags: sustainable development | transparency
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
International Labour Organization Declaration on Fundamental Principles and Rights at WorkTags: worker rights | labour
Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants
OECD Guidelines for Multinational EnterprisesTags: human rights | corporate social responsibility | dams | OECD | consumer safety | corruption | cultural preservation | worker rights | supply chain | taxation | mining and processing
Partnership for Carbon Accounting Financials (PCAF)Tags: carbon | corporate social responsibility
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Soft Commodities CompactTags: Deforestation | forest
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
Taskforce on Nature-related Financial Disclosures (TNFD)Tags: corporate social responsibility | finance
Thun Group on Human RightsTags: Human Rights
UN Guiding Principles on Business and Human RightsTags: United Nations | human rights
UNEP Finance InitiativeTags: United Nations | sustainable development
United Nations Global CompactTags: United Nations | human rights
Universal Declaration of Human RightsTags: human rights | United Nations
Wolfsberg PrinciplesTags: finance | corruption
Dodgy Deals

NatWest Group is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of NatWest Group's link to these deals.

Campaigns

Banks and Climate

The 2022 Banking on Climate Chaos report showed that NatWest Group provided US$ 14.84 Billion in financing to the fossil fuel industry between 2016 and 2021. Find further details on NatWest Group fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of NatWest Group fossil fuel policy below.

 


Banks and Human Rights

BankTrack assessed NatWest in its 2022 Global Human Rights Benchmark, where it achieved 4.5 points out of 14 and was ranked as a follower. In addition, NatWest scored 0 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.


Tracking the Net Zero Banking Alliance

NatWest Group is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.

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Mark Carney accusations call green credentials into question

Ex-Bank of England governor’s climate group is ‘dragging its feet’ on green investment
BankTrack quoted
2023-01-24 | The Telegraph
Blog
BankTrack news BankTrack blog Partner news Partner blog

Throwing fuel on the fire: GFANZ members provide billions in finance for fossil fuel expansion

2023-01-17 | Paris, France /Nijmegen, Netherlands | BankTrack, Reclaim Finance
Blog
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Europe’s largest banks falling short on climate and biodiversity action

New ShareAction research uncovers urgent need for UK and European banking sector to close loopholes in climate and biodiversity strategies
2022-12-12 | ShareAction
Blog
BankTrack news BankTrack blog Partner news Partner blog

European financial institutions heavily invested in companies involved in illegal Israeli settlements

725 European Financial Institutions found to provide billions of dollars in finance to companies operating in Israel's illegal settlement enterprise
2022-12-05 | Brussels | Don't Buy Into Occupation
Blog
BankTrack news BankTrack blog Partner news Partner blog

New human rights assessment of banks shows slow progress and lack of action to address key gaps on reporting and remedy

BankTrack’s 2022 Global Human Rights Benchmark finds reporting at a standstill, remedy still lacking and no clear leaders
2022-11-17 | BankTrack
Blog
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New report: Largest European banks bankroll high-risk arms traders

2022-07-12 | PAX
Blog
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New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2022-03-30 | San Francisco, Bemidji, Nijmegen, Oakland, Paris, Sassenberg, Washington DC | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club, Urgewald
BankTrack news BankTrack blog Partner news Partner blog

ESG round up: NatWest to slash fossil fuel exposure

2022-02-21 | Responsible Investor
Blog
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Banks failing to address severe human rights impacts transparently, finds BankTrack research

Findings reinforce the need for regulators to ensure access to effective remedy for people affected by bank finance
2021-12-14 | Nijmegen | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Barclays, RBS, HSBC, Credit Suisse and UBS fined for taking part in forex trading cartel

2021-12-02 | CNBC
BankTrack news BankTrack blog Partner news Partner blog

Britain turns to bankers to blaze a green trail

The financial industry will be relied on to meet climate goals. NatWest, a lender to oil giants, provides a template.
BankTrack quoted
2021-12-02 | New York Times
Blog
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Glasgow wrap-up: updates from banks and civil society at COP26

With COP26 behind us, it’s as clear as ever before that banks must act urgently to help achieve the goal of limiting global warming to 1.5 C.
2021-11-17 | Nijmegen | BankTrack
Blog
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Climate groups call out banks lobbying for watered down Net Zero Commitments

Stop the Money Pipeline organizations respond to news that on behalf of a group of 12 banks, HSBC lobbied Mark Carney’s GFANZ to scrap mandatory science-based targets and delay a deadline.
2021-11-09 | New York | BankTrack, Stop the Money Pipeline
Blog
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Meet the banks funding the owners of the Cambo oil field

New research shines a spotlight on the banks backing Shell and Siccar Point Energy
2021-10-29 | #StopCambo
Blog
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Equator Banks involved in financing at least 200 fossil fuel projects since Paris

BankTrack research sheds new light on finance for fossil fuels by Equator banks
2021-10-26 | BankTrack
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Banks due at UK’s ‘Green’ Investment Summit ‘financed £700 billion in fossil fuels since Paris Agreement’

Citi, JPMorgan and Barclays among “world’s biggest financiers” of oil, gas and coal at government summit on green future.
2021-10-18 | DeSmog
BankTrack news BankTrack blog Partner news Partner blog

‘Wreckers of the Earth’: 300 London-based companies destroying the planet

2021-10-14 | Corporate Watch
Blog
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Banks and biodiversity: are banks moving towards Kunming?

As China hosts the first part of the UN Biodiversity Conference, banks are called upon to support its goals
2021-10-14 | Nijmegen | BankTrack
Blog
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New report exposes billions in European financial support to companies in illegal Israeli settlements

2021-09-29 | Don't Buy Into Occupation
Blog
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Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

210+ groups support urgent call to action
2021-09-23 | BankTrack
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European banks storing €20bn a year in tax havens

2021-09-06 | The Guardian
Blog
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New research puts big banks’ sustainability claims in doubt

While 20 of Europe’s 25 largest banks have pledged to reach net-zero emissions by 2050, none have matched these long-term ambitions with comprehensive plans to avert climate change and biodiversity loss
2021-09-06 | London | ShareAction
Blog
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Banks called upon to take action to protect biodiversity ahead of UN Biodiversity Conference in Kunming

Civil society organizations urge banks to adopt stringent “No Go” policy for biodiversity rich areas
2021-05-26 | Nijmegen | BankTrack
Blog
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Revealed: Businesses and banks behind global plastic waste crisis

Just 20 companies produce over 50 per cent of all single-use plastic - Top financial institutions enabling plastic waste identified
2021-05-18 | Minderoo Foundation
BankTrack news BankTrack blog Partner news Partner blog

UK banks’ support for coal industry has risen since 2015 Paris climate pact

2021-05-04 | The Guardian
Blog
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The City of London, home of coal finance

Just six months before it hosts the crucial COP26 summit, the UK’s climate leadership has been called into question by a damning new report from Reclaim Finance
2021-05-04 | urgewald, Reclaim Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

New bank climate initiative fails to grasp urgent need to end finance for fossil fuels

Civil society statement on the launch of the Net-Zero Banking Alliance
2021-04-22 | Nijmegen | BankTrack, urgewald, Amazon Watch, Bank on our Future, Indigenous Environmental Network, Market Forces, Positive Money, Rainforest Action Network, Reclaim Finance, ShareAction, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

Leading finance firms sign up to Mark Carney forum on low-carbon investment

2021-04-21 | The Guardian
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NatWest s