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NatWest Climate Related Disclosure Report 2022 NatWest Group was the first UK bank to have a science-based targets validated by the SBTi, c which aims to achieve net zero by 2050 for K operational value chain emissions covering th scopes 1, 2 and all relevant categories in scope 3. m This means aiming to reduce by 50% direct own s operations by 2025 and our operational value s chain by 2030, with a minimum 90% reduction re by 2050 and a plan to neutralise the residual 10% through the use of carbon credits. W p Last year, a 46% carbon reduction was w achieved in direct own operations, against fo a 2019 baseline, and renewable electricity th consumption increased to 98% globally, in meaning we are well on track to meet our th targets. C N In 2021, our first sustainable hub in Bristol o was delivered, achieving the Royal Institute c of Chartered Surveyors’ (RICS) SKA Silver o accreditation, and provided valuable insights c into the practices that can be deployed a elsewhere in other branches. Since then, s
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a further four sustainable hubs have been completed, with the most recent being Milton Keynes branch, where we continue to maximise he use of pre-loved furniture and recycled materials, as well as implement technology such as heat pumps and building management systems to assist with reducing energy equirements. Work continues on various projects across our portfolio including Manchester Spinningfields, which is the bank’s new flagship building or sustainability, and is due for completion his year. Air-source heat pumps have been nstalled to decarbonise the heating of he building, which will lead to 147 tonnes CO 2 e reduction in its scope 1 emissions. NatWest Group understands the importance of continually transforming in line with our commitment to only retain assets that reduce our carbon impact, while trying to achieve value creation for our customers and colleagues, and utilise growth opportunities for our stakeholders. Leigh Dodsworth Head of Climate Own Operations
