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RBS Plans to Cut Fossil Fuel Loans, Be Climate Positive by 2025

Feb. 14, 2020, 8:50 AM

Royal Bank of Scotland Group Plc said it will cut the net greenhouse-gas emissions of its operations to zero this year and will be “climate positive” by 2025 when the company will capture more carbon than it emits.

The Edinburgh-based bank, which announced the plans alongside its annual results on Friday, also said it will reduce the impact on climate change of its financing activity, which can include lending and underwriting, by at least half by 2030. It also pledged to double its funding and financing for climate and sustainable finance to 20 billion pounds ($26.1 billion) by 2022.

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