Natwest forced to pause AGM after climate protest

Natwest has been forced to pause its annual general meeting today following a disruption from climate protesters.

The FTSE 100 giant’s chairman Rick Haythornthwaite adjourned the meeting – taking place at Natwest’s Gogarburn headquarters in Scotland – after protesters disrupted his address to shareholders.

Campaigners had been calling for a protest vote against Haythornthwaite in a bid to get the bank to reverse what they have called “climate backtracking”.

A number of Natwest investors, including the Church of England, have backed the campaign pledging to vote against the reappointment of board members.

It follows watering down in the bank’s green policies, such as dropping its commitment not to lend to any oil and gas companies that did not have a credible transition plan. The bank has pointed to an “evolving policy environment” for the changes.

The moves come amid an industry-wide rowback on green finance, which has led to the Net Zero Banking Alliance (NZBA) ceasing operations following a member exodus.

Natwest has been contacted for comment.

This is a breaking news story – more to follow.