Topic analysis

Singing activists disrupt NatWest meeting over ‘climate backtracking’

NatWest's 2026 annual shareholder meeting in Edinburgh was briefly adjourned after singing activists from XR Money Rebellion disrupted proceedings to protest the bank's alleged climate backtracking, which included dropping commitments to refuse lending to oil and gas companies without credible transition plans. Chair Rick Haythornthwaite defended the policy shifts as a pragmatic balance of supporting customer energy transitions and managing regulatory risks, noting retained net-zero financing goals by 2050 and a £200bn sustainable lending target by 2030; however, he faced dissent from investors like the Church of England Pension Board and ShareAction, with his re-election receiving the lowest approval vote (92%) among resolutions, while Unite Union representatives criticized inflation-busting executive pay amid staff financial struggles.