At NatWest Group, we understand that businesses have an important role in promoting respect for human rights. Our approach is informed and guided by internationally recognised human rights standards including the United Nations Guiding Principles on Business and Human Rights (UNGPs).
In December 2023 we published our Salient Human Rights Issues (PDF, 358 KB). These are centred on five roles: Employer, Procurer, Retail Banker, Investor and Commercial Banker. We recognise that issues such as contribution to climate change and conflict and security are continuing to unfold within the current global political and environmental landscapes. We will continue to review our salient human rights issues as our business, value chain and operating environment evolve and have provided some illustrative examples of the work done in 2024 in our Sustainability Report.
We have established a policy framework to respect and promote human rights with our customers, our colleagues and our suppliers. These are reflected in our Human Rights Position Statement (PDF, 1.3 MB) which was reviewed and updated in 2022.
Our programme of engagement with various stakeholders including charities, investors and non-governmental organisations (NGOs) continues to help deepen our knowledge and understanding of human rights issues. We remain signatories of the UN Global Compact (UNGC) and continue to adhere to reporting requirements under a range of initiatives, including the Equator Principles.
The Human Rights Action Group (HRAG) continues to coordinate our activities, and to make recommendations to the NatWest Group Executive Committee, Group Sustainable Banking Committee and Board to develop and strengthen our approach. HRAG aims to accelerate our work across human rights and modern slavery. In 2024, activity focused on developing our processes for managing our six salient human rights issues.
We are continually evolving our approach and our Sustainable Banking team welcome any input or feedback from stakeholders.
