VIDEO: Natwest’s Rishi Madlani on financing the global net-zero transition
EXCLUSIVE: Natwest Group's head of sustainable finance has spoken to edie on Finance Day of COP26 in Glasgow, discussing the need for greater alignment between Governments, banks and regions to accelerate green business action beyond the climate talks.
Speaking to edie’s content director Luke Nicholls in the Green Zone at COP26 earlier today (3 November), Madlani gives his thoughts on the big announcements from ‘finance day’, such as news that the Glasgow Financial Alliance for Net-Zero (GFANZ), which launched in April in a drive to unite the global financial sector in transitioning to net-zero portfolios by 2050, now represents more than $130trn in assets under management.
Another key discussion point is the $100bn pledge of annual climate finance from wealthy to developing nations, which has not yet been met.
NatWest is notably a COP26 Principal Partner – the highest level of corporate sponsorship for the summit. Madlani talks about what this position means for a retail bank like NatWest, and how it can be leveraged to encourage action across the wider banking community and its business and individual customers.
He also provides an update on the bank’s own efforts to halve financed emissions by 2030 and to bring them to net-zero by 2050, and to support the small businesses powering the net-zero transition across the UK.
“A bank has an important role to play in [tackling] climate change, but it’s our customers that really need the help with that transition,” he says. “We need to give them the information – the data – and to help them with the solution. And some of them are, also, the solution, which is the beautiful, wholesome circle of this.”
edie at COP26
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