NatWest Appoints Top Economist as First Independent Climate-Change Adviser
July 21 2020 - 7:29PM
Dow Jones News
By Dieter Holger
NatWest Group PLC, formerly known as Royal Bank of Scotland
Group PLC, has appointed Nicholas Stern as its first ever
independent climate change adviser.
The British lender said Wednesday that Mr. Stern will advise the
bank's senior management for eight days a year for an initial term
of two years.
Mr. Stern currently chairs the Centre for Climate Change
Economics and Policy, and the Grantham Research Institute at the
London School of Economics. He has previously served as chief
economist at the World Bank
"We now have an opportunity to build back better," Mr. Stern
said in prepared remarks. "It is crucially important for financial
institutions to rise to the climate emergency."
Earlier this year, NatWest pledged to at least halve the
environmental impact of its lending, among other plans.
Write to Dieter Holger at dieter.holger@wsj.com;
@dieterholger
(END) Dow Jones Newswires
July 21, 2020 19:14 ET (23:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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