Bank completed £565m "green mortgages" in review of environmental and social policies

NatWest has reviewed its green and environmentally friendly efforts in its third quarter intermin statement.

According to the statement, NatWest’s retail banking completed Green Mortgages with a value of £565m during the nine months ended September 30 2021.

The bank has also teamed up with the manufacturer Top Trumps, to launch a new MoneySense Climate Savers competition for primary school pupils across the UK as part of our principal sponsorship of the UN Climate Change conference COP26.

In addition, NatWest launched a ‘Sustainable Homes and Buildings’ Coalition’ with British Gas, Worcester Bosch, and Shelter to improve UK buildings energy efficiency. The Coalition aims to address the key blockers to meeting net zero in the UK buildings environment.

The firm issued a €1bn affordable housing social bond. The proceeds will support lending to not-for-profit, UK housing associations as part of our commitment to provide £3bn of funding to the UK’s affordable housing sector by the end of 2022.

Alison Rose, chief executive officer, commented: “NatWest Group has made addressing the climate challenge and supporting our customers through the transition a key strategic priority.”

“We recently announced a new target to deliver an additional £100bn of Climate and Sustainable Funding and Financing between July 1 2021 and the end of 2025, having exceeded our initial two-year target of £20bn in less than 18 months.”

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