British lender Natwest said that they had planned to increase lending linked to sustainable and climate-related finance to 100 billion pounds ($136 billion) by 2025. This move comes ahead of global climate talks in Glasgow.
In this talk where countries will be pushed to accelerate efforts to fight climate change and transition to a lower-carbon economy. Natwest said that in a statement the money would be used across its business. This also includes offering “green” mortgages with lower interest rates to customers who are buying homes with a better energy efficiency rating.
Other uses for the money could include lending to projects. Especially to those projects that benefit the environment, such as renewable energy or electric vehicles. The company stated that this marks an acceleration in NatWest’s ambition to support UK decarbonization and the Government’s Net Zero Strategy. Also, this is with reference to the country’s aim to reduce greenhouse gas emissions by mid-century. In the first half of 2021, Natwest said that it had met its full year target of providing 20 billion pounds in climate and sustainable funding and financing six months early.