RBS will stop lending to energy firms without climate crisis plan

Bank also pledges to fully phase out coal financing by 2030 as it rebrands as NatWest Group

Royal Bank of Scotland will stop lending to energy companies that fail to align with the Paris climate agreement goals by 2021 as part of a corporate overhaul that will result in the bank being renamed NatWest, its biggest brand.

As part of a fresh strategy unveiled by the new chief executive, Alison Rose, the bank will stop lending and offering underwriting services to major oil and gas producers that do not have credible transition plan to help limit global heating to below 2C.

Continue reading... Read The Rest at :