NatWest banks on sustainability with £10bn pledge

The bank supported nearly 1,500 green transactions over three years between 2015 and 2017

By Priyanka Shrestha

NatWest has committed £10 billion of funding for the sustainable energy industry by 2020.

The bank, which set a three-year target of £3 billion in 2015, supported nearly 1,500 green transactions until the end of last year.

Lending for the solar industry accounted for most of the support, with 41% of funding, followed by wind at 25%, biomass at 9% and anaerobic digestion, smart meters and energy efficiency projects at 2% in total.

Richard Saint, Managing Director of Energy Infrastructure & Industrials said: “This is a huge achievement, demonstrating our strong commitment to the low carbon economy and the jobs, businesses and communities that rely on it. It also highlights the attractiveness of the UK for investment in the low carbon goods and services sector for British businesses.”