""I don't want to take what sounds like a backtracking as a major shift," he said, adding that the bank's climate targets "matter" and remain in place."
"The Church of England Pensions Board has said it intends to oppose the chair's reappointment, adding weight to growing shareholder dissent."
NatWest Group's annual shareholder meeting was disrupted by climate activists, leading to a 30-minute suspension. Protesters criticized the bank's climate strategy, claiming it weakened its commitments to fossil fuel financing. ShareAction, representing investors managing around $1 trillion in assets, accused NatWest of reducing the ambition of its fossil fuel policies. Investors called for the chairman to address concerns directly, with some opposing his re-election. Chairman Rick Haythornthwaite defended the bank's focus on renewable energy, stating that only 0.6% of lending goes to oil and gas, while reaffirming climate targets.
Read at London Business News | Londonlovesbusiness.com
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