NatWest opens door to more oil and gas funding in policy update
"Stepping back from commitments to restrict financing for the largest fossil fuel firms expanding oil and gas extraction is a serious concern."
NatWest has removed a requirement for its oil and gas clients to have a credible climate transition plan and a prohibition from funding fracking activities in a policy update deemed as “a serious concern”.
The UK bank conducted a review of its Environmental, Social and Ethical (ESE) Risk Acceptance Criteria for major oil and gas customers during 2025 “to ensure [its] strategy reflects the interconnected risks and opportunities across the energy value chain as the economy transitions toward net zero”.
