NatWest Faces Backlash Over Climate Commitments
NatWest's climate commitments are under fire as activists disrupt their AGM. Discover how shareholder concerns are reshaping the bank's future policies.
Activists Disrupt NatWest AGM
At a recent annual shareholder meeting in Edinburgh, NatWest faced significant backlash over allegations of climate backtracking. The meeting was temporarily suspended after protesters, representing Extinction Rebellion's XR Money Rebellion, interrupted with a song criticizing the bank's ties to fossil fuels.
Shareholders expressed their concerns regarding NatWest's recent policy changes, particularly the decision to ease restrictions on lending to oil and gas companies. Key points raised included:
- •The bank's commitment to halve its climate impact by 2019 levels is currently at 39%.
- •NatWest aims for net-zero emissions from its financing by 2050.
- •The bank provided £19 billion in energy transition finance in the latter half of 2025.
- •A new target of £200 billion in sustainable lending by 2030 has been set.
Chairman Rick Haythornthwaite defended the bank's position, emphasizing the need to balance customer support with the complexities of climate policy. Despite the protests, he reassured shareholders that NatWest remains committed to its climate goals.