NatWest Pension Trustee Limited Net Zero Commitment
We support the Paris Agreement and strongly urge governments to implement the actions that are needed to achieve the goals of the accord, with utmost urgency.
Recognising the need to address the risks that investors and their beneficiaries face from climate change, investors are taking action, but we acknowledge that there is an urgent need to accelerate the transition towards global net zero greenhouse gas emissions and do our part in helping deliver the goals of the Paris Agreement.
In this context, NatWest Pension Trustee Limited commits to the following where not inconsistent with our fiduciary obligations:
- Engaging with our suppliers, including fund managers, to seek commitments to science-based targets aligned to net zero 2050;
- Engaging or employing third party experts or fund managers to engage with our investments to seek commitments to science-based targets aligned to net zero 2050;
- Managing our real assets to achieve real economy emission reductions on a path to net zero 2050;
- Setting objectives and targets, including an interim target for 2030 or sooner for increasing the proportion of our assets that are signed up to science-based targets aligned to net zero 2050;
- Ensuring any direct and collective policy advocacy we undertake supports policy and regulation relevant for achieving global net zero emissions by 2050 or sooner;
- Implementing a stewardship and engagement strategy, with clear voting policy that is consistent with an objective for all assets in the portfolio to achieve net zero emissions by 2050 or sooner;
- Setting a target and reducing our operational (Scope 1 and 2) emissions in line with achieving global net zero emissions by 2050 or sooner;
- Disclosing objectives and targets in line with the Task Force on Climate-related Financial Disclosures (TCFD) disclosure requirements; and
- Reporting annually on the strategy and actions implemented and progress towards achieving our objectives and targets, and in line with the TCFD recommendations.
Our commitment is based on the expectation that governments and policy makers will deliver on their commitments to achieve the 1.5°C temperature goal of the Paris Agreement.
You can play your part in reaching these goals by making sure we have a current email address for you and switching your contact preferences to email instead of paper. When you do this, you will receive a notification email every time there is a new important personal document for you to read. The document will be stored on your pension record, so that you can access all your personal pension-related correspondence safely and securely, in one place.