We take collective action through our signatory status, memberships and accreditations to move forward as a responsible business. In collaboration with our partners, we have progressed a number of key initiatives throughout 2024.
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UN Global Compact (UNGC)
We remain signatories of the UN Global Compact (UNGC) and continue to adhere to the Communication on Progress reporting requirements. We participated in the UNGC Business & Human Rights Accelerator, and the UK Network’s Climate & Human Rights and Modern Slavery working groups.
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UN Principles for Responsible Banking (PRB)
NatWest Group became a founding signatory of the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking (PRB) in September 2019. PRB encourages signatories to align strategy with the 2015 Paris Climate Agreement and UN Sustainable Development Goals. Our PRB self-assessment report can be found in our 2024 Sustainability Datasheet and reflects the changes in template and guidance from UNEP FI released in November 2024.
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HM Treasury Women in Finance Charter
We continued to be a signatory of HM Treasury’s Women in Finance Charter, and in 2024 our Group Chief Financial Officer joined the Accountable Executive Taskforce.
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Sustainable Homes and Buildings Coalition
Through our ongoing involvement with the Sustainable Homes and Buildings Coalition, alongside British Gas, Worcester Bosch and Citizens Advice we continued to engage with the UK Government, advocating energy stamp duty rebates for energy efficient properties, ever closer public-private collaboration, and incentives for supporting skills development.
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International Capital Markets Association (ICMA)
Our work with the International Capital Markets Association (ICMA) in 2024 saw us act as joint coordinator of its sustainable commercial paper (CP) taskforce, contributing to its paper The role of commercial paper in the sustainable finance market. This is the first ever market guidance for embedding sustainable finance in CP. We were also part of ICMA’s Taskforce on Enabling Activities, supporting the June 2024 publication of guidance to companies that want to access green finance but may not directly participate in existing green activities.
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UK Finance
NatWest Group was part of a multi-bank collaboration, convened by UK Finance, seeking to support the Transition Finance Market Review. The collaboration, was enabled through roundtables and engagement events and informed the findings captured in the Transition Finance Market Review report, published on 17 October 2024. NatWest Group’s Head of Climate Change was a member of the expert group that helped shape this land-mark publication.
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Read more about how the diverse awards we have reinforce our determination in aiming to make a difference for our stakeholders.
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