NatWest has become the latest retail bank to join Bankers for Net Zero, the UK’s country chapter of the UN’s Net Zero Banking Alliance.
The partnership follows the announcement that NatWest Group aims to at least halve the climate impact of its financing activity by 2030.
James Close, head of climate change at NatWest Group, said NatWest is determined to grow a sustainable economy and support its customers on their transition to net zero.
“Bankers for Net Zero provides a complementary platform for banks to work together to address the climate challenge. We look forward to getting stuck in to support the group to drive change and leverage existing initiatives.
“Unlocking and mobilising the finance needed to support the UK’s transition to net zero will require the sector to de-risk the transition and ensure that policy, regulation and finance are all playing their part in enabling the UK economy to transform itself,” said Close.
Bankers for Net Zero (B4NZ) was formed in October 2019 with the initiative of bringing together banks, businesses, and regulators to enable them and their clients to accelerate the transition to net zero.
The bank has committed to providing £100 billion in climate and sustainability funding by the end of 2025 and is a founding member of the Net Zero Banking Alliance (NZBA) and the Glasgow Financial Alliance for Net Zero (GFANZ).