Our Purpose in Action: NatWest Group Publishes New 2020 Environmental, Social and Governance Supplement
Our purpose is to champion the potential of people, families and businesses.
We’ve published our first Environmental, Social & Governance (ESG) supplement. In response to stakeholder interest in more detailed disclosures around non-financial matters, the supplement is a key new addition to our annual reporting suite. Focusing on our non-financial performance in 2020, it enhances our disclosures around our purpose, sustainability and ESG factors.
The supplement is the go-to place for stakeholders to understand progress against our ESG priorities, providing greater detail of the work we’re doing to tackle the most pressing challenges which our customers, communities and society face as a whole. It details how our purpose-led strategy, underpinned by our focus areas of enterprise, learning and climate, is helping us to drive positive change.
Beyond our focus areas, the supplement also demonstrates how we strive to meet standards and conditions that ensure we operate as a responsible business, particularly around important matters such as: conduct; taxes; supply chain; diversity and inclusion; safeguarding customers; and human rights. And, for the first time, as part of the supplement we are publishing a Fair Pay Charter as well.
Collective action and greater transparency
Our first self-assessment of progress against all six of the UN Principles of Responsible Banking (PRB) is included. As members of the United Nations Environment Programme Finance Initiative, we were proud to become a founding signatory to the UN PRB in September 2019 and we’re committed to the ongoing process to align our strategy with the UN Sustainable Development Goals and we intend to do what is necessary to achieve alignment with the 2015 Paris Agreement.
The supplement also includes our first report against the framework established by Sustainability Accounting Standards Board (SASB). Reporting against this framework allows us to provide clear and comparable disclosures so that stakeholders can better understand our ESG activity and progress.
As part of our strategy to be a purpose-led bank, we’re committed to greater transparency around ESG. The supplement aims to provide investors, regulators, ESG rating agencies, NGOs, current and future employees and our customers with information on the work we are doing across ESG focus areas. It is produced as part of our annual reporting suite and it is designed to be read alongside our other disclosures, including the Strategic Report and the 2020 Climate-related Disclosure Report.
2020 highlights:
- NatWest Group is the principal banking partner for this year’s COP26 summit.
- Published our first self-assessment of progress against all six of the UN Principles of Responsible Banking.
- Provided £12 billion in Funding and Financing for Climate and Sustainable Finance in 2020.
- Supported female entrepreneurs in 2020 by announcing £1 billion of funding, which has been fully deployed. We have added a further £1 billion of funding in 2021 to help support female entrepreneurs recover from the disruption caused by coronavirus.
- Supported the National Emergencies Trust Coronavirus Appeal by matching £5 million of customer donations, contributing to a total donation of £10 million.
- Published a report on racial equality, to make a meaningful, positive difference to colleagues, customers and communities from Black, Asian and Minority Ethnic backgrounds.
- Published Our Fair Pay Charter which outlines principles to support fairness for all our colleagues.
- New Supplier Charter sets out changes in how we will better work with our suppliers in ethical business conduct, human rights and more.
- 2.3 million downloads of Island Saver, our first ever educational video game teaching children money management skills.
For more information visit our ESG Investor pages. More sustainability information is also available on Our purpose pages.
About NatWest Group
NatWest Group is a relationship bank for a digital world. We champion potential; breaking down barriers and building financial confidence so the 19 million people, families and businesses we serve in communities throughout the UK and Ireland can rebuild and thrive. If our customers succeed, so will we.
Sustainable Banking contact:
Sustainable.Banking@natwest.com
Media Contact:
Claire French
Tel: +44 (0)131 523 4205
