Company News

NatWest commits to science-based climate targets

LONDON, Nov 16 (Reuters) - NatWest said on Monday it had become the first UK bank to sign up to the science-based targets initiative as part of its efforts to reduce its carbon emissions.

The bank set out tagets in February to make its own operations net zero carbon by the end of this year and to at least halve the climate impact of its finance activity by 2030.

More than 1,000 companies have already set science-based targets, which are increasingly seen by investors as crucial to clearly show how businesses will meet their green ambitions.

The Science Based Targets initiative, a collaboration between groups including the United Nations Global Compact (UNGC), sets best-practice standards and assesses company efforts to align with the Paris agreement on climate change. (Reporting by Iain Withers; editing by Simon Jessop)