NatWest Group has informed its shareholders they will have the opportunity to have a ‘Say on Climate at its AGM through the bank’s first climate resolution.

The bank is asking its shareholders to give their support to its strategic direction on climate change, its intention to develop and publish a transition plan, and for annual progress reports to be published.

In presenting the resolution to shareholders, the bank intends to promote transparency about its climate ambitions and strategic direction and obtain feedback which will help it to shape its future climate transition planning, execution and reporting.

Alison Rose, CEO of NatWest Group, said: “Tackling climate change is a key strategic priority for NatWest Group. It is also near the top of the agenda for many of our shareholders, and we want to work with all of our stakeholders to help shape our future planning, execution and reporting on climate.”

In February 2020, NatWest Group set out its climate strategy that will halve the climate impact of its financing by 2030 and be net-zero by 2050, primarily by supporting its customers to transition to the low carbon economy. The bank has recently submitted 2030 emission intensities and sector-specific targets to SBTi for validation.

In 2023 the bank will publish its climate transition plan which will further support its ambition to do what is necessary to achieve alignment with the 2015 Paris Agreement. It intends to be transparent in providing updates on progress against its climate transition plan by publishing annual reports.

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