NatWest confirms it is to stop lending to oil and gas projects

Michael Holder
clock • 5 min read

NatWest Group yesterday (9 February) promised to stop providing loans for new oil and gas projects, while providing at least £10bn in lending to help improve the energy efficiency of UK homes, as the bank gears up to become one of the first in the UK to publish a Climate Transition Plan next week. From this month, NatWest said it would stop providing reserve-based lending specifically for the purpose of financing oil and gas exploration, extraction, and production for new customers. It added that from 31 December 2025 it would also stop renewing, refinancing, and extending existing re...

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