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LONDON, Oct 13 (Reuters) - British lender Natwest
said on Wednesday it planned to increase lending linked to
sustainable and climate-related finance to 100 billion pounds
($136 billion) by 2025.
The move comes ahead of global climate talks in Glasgow in
November where countries will be pushed to accelerate efforts to
fight climate change and transition to a lower-carbon economy.
Natwest said in a statement the money would be used across
its business and include offering "green" mortgages with lower
interest rates to customers buying homes with a better energy
efficiency rating.
Other uses for the money could include lending to projects
that benefit the environment, such as renewable energy or
electric vehicles, it said in a statement.
"This marks an acceleration in NatWest’s ambition to support
UK decarbonisation and the Government’s Net Zero Strategy," the
company said, referring to the country's aim to reduce
greenhouse gas emissions by mid-century.
In the first half of 2021, Natwest said it had met its full
year target of providing 20 billion pounds in climate and
sustainable funding and financing six months early.
($1 = 0.7352 pounds)
(Reporting by Simon Jessop
Editing by Mark Potter)
