Conscience signs letter calling on NatWest Group to stop financing nuclear weapons industry

by Karen Robinson ~ March 31st, 2021. Filed under: News.

Conscience has signed a letter calling on NatWest Group to stop financing the nuclear weapons industry, along with more than 40 other organisations.

Natwest Group, formerly known as the Royal Bank of Scotland, is one of the largest banks in the UK and the biggest bank in Scotland. Natwest Group had $1,861.4 million in outstanding investments to major nuclear weapons producers between 2018-2020.

As long-standing supporters of nuclear disarmament, we recognise the catastrophic dangers that nuclear weapons pose to people and planet. We welcomed entry into force of the UN Treaty on The Prohibition of Nuclear Weapons on 22 January. A comprehensive ban on nuclear weapons is now part of international law.

NatWest Group describes itself as a responsible investor. That claim cannot be sustained while the bank continues to finance companies that make weapons of mass destruction.

NatWest Group’s subsidiaries include Royal Bank of Scotland, NatWest and Ulster Bank. If you are a customer of any of these banks, we encourage you to contact NatWest Group using the template email. You can also call the bank’s customer service line on 03457 888 444.

If you are a customer with another major British financial institution, you can find details of their policy and contact them here. The more financial institutions that we can persuade to divest, the greater the pressure will be on companies to stop producing these indiscriminate, banned weapons.

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