NatWest sets GBP100bn funding target to help UK transition to net-zero economy

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NatWest Group PLC (LSE:NWG) has unveiled a new target to provide GBP100bn of Climate and Sustainable Funding and Financing (CSFF) by the end of 2025.


Part of it will also help to support the investment needed for the UK to reach its net-zero goals as well as the bank’s customers, including small and medium enterprises, on their transition to a more sustainable economy.


READ: NatWest faces ‘very large’ fine over multi-million-point money laundering failures


The FTSE 100 group has published the criteria to choose the assets, companies and projects that can be eligible for the funding.


For instance, it has revised the Built Environment category to reflect the launch of green purchase and re-mortgage products.


It has removed ‘Nuclear’ and ‘Energy from Waste’ in the Low Carbon and Offsetting technology category to align to the Green Gilt Framework.


NatWest is also including sustainability bonds, alongside sustainable linked bonds and loans.


The bank previously pledged to at least halve the climate impact of its financing activity by 2030, to reach net-zero by 2050 and making its own operations climate positive by 2025.


In 2019 it set a GBP20bn CSFF target that was achieved ahead of schedule earlier this year with a GBP21.5bn spend.

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