NatWest: clarity on oil, gas and coal policies required ahead of COP26

The statement by Reclaim Finance criticizes NatWest for a lack of clarity regarding its fossil fuel financing policies. Despite commitments to net-zero by 2050 and a coal phase-out by 2030, the bank remains among the top 50 most polluting banks globally, having provided over $13 billion in fossil fuel financing between 2016 and 2020. The author highlights specific gaps in NatWest's coal exit strategy, noting continued support for companies like Glencore and RWE, and demands clear 'red lines' for the 'credible transition plans' required of oil and gas producers by the end of 2021.

• NatWest is ranked among the top 50 most polluting banks globally, providing over $13 billion in fossil fuel financing from 2016 to 2020, with no evident downward trend.
• Although NatWest committed to a full coal phase-out by 2030 in 2019, the bank has not provided the specific details or definitions of this commitment, leaving the policy too flexible to be effective.
• Between October 2018 and October 2020, NatWest provided more than $2 billion in loans and underwriting to the coal industry, including $846 million to Glencore, a major coal mining company without a 2030 phase-out plan.
• NatWest requires major oil and gas producers and companies with over 15% coal-related activities to have a 'credible transition plan' by the end of 2021, but it has not yet established clear requirements or 'red lines' for these plans.

APA

admin (2021). NatWest: clarity on oil, gas and coal policies required ahead of COP26. Reclaim Finance. https://reclaimfinance.org/site/en/2021/04/28/natwest-clarity-on-oil-gas-and-coal-policies-required-ahead-of-cop26/

Chicago

admin. NatWest: clarity on oil, gas and coal policies required ahead of COP26. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/04/28/natwest-clarity-on-oil-gas-and-coal-policies-required-ahead-of-cop26/.

Wikipedia

{{cite press release |last1=admin |title=NatWest: clarity on oil, gas and coal policies required ahead of COP26 |publisher=Reclaim Finance |date=28 April 2021 |url=https://reclaimfinance.org/site/en/2021/04/28/natwest-clarity-on-oil-gas-and-coal-policies-required-ahead-of-cop26/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021natwest, author = {admin}, title = {{NatWest: clarity on oil, gas and coal policies required ahead of COP26}}, publisher = {Reclaim Finance}, year = {2021}, month = apr, url = {https://reclaimfinance.org/site/en/2021/04/28/natwest-clarity-on-oil-gas-and-coal-policies-required-ahead-of-cop26/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }