Natwest was forced to pause its annual general meeting (AGM) on Tuesday following a disruption from climate protesters. The FTSE 100 bank's chairman, Rick Haythornthwaite, adjourned the meeting at Natwest's Gogarburn headquarters in Scotland after protesters interrupted his address to shareholders.
Protest Vote Campaign
Campaigners had been calling for a protest vote against Haythornthwaite in an effort to reverse what they describe as the bank's "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.
Green Policy Changes
The protest follows Natwest's decision to water down its green policies, such as dropping its commitment not to lend to oil and gas companies without credible transition plans. The bank has cited an "evolving policy environment" for these changes. This move is part of a broader industry rollback on green finance, which has led to the Net Zero Banking Alliance (NZBA) ceasing operations after a member exodus.
Natwest has been contacted for comment. This is a breaking news story; more details will follow.
