By Jim Silver
NatWest Group Plc plans to stop doing business with a group of coal companies and it will end lending to some oil-and-gas majors over their lack of “credible” green plans, the Financial Times reported, citing a company report and James Close, its head of climate change.
Close told the newspaper the number of companies affected is “relatively small.” He said it’s “dozens and less.” The energy companies that will still be able to borrow from the British bank are mainly those “that aren’t doing any more upstream oil and gas production,” he said.
The changes are to be enforced “as soon as is practicable,” NatWest said Friday in its climate disclosure report, the FT said.
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