Barclays and NatWest are transitioning their climate goals from short-term executive bonuses towards multi-year incentive plans, reflecting a movement among corporations to downscale environmental metrics linked to pay packages. Barclays' chief executive, CS Venkatakrishnan, will see climate objectives integrated into a long-term incentive plan, while NatWest removes climate metrics from annual bonuses to include them in a revised share-based plan. This trend aligns with broader corporate shifts, including the withdrawal of major U.S. banks from a global net-zero alliance and changes in diversity policies among various corporations.
Barclays and NatWest are removing sustainability metrics from short-term executive bonuses, opting instead for multi-year incentive schemes to better assess climate objectives.
These revisions by Barclays and NatWest are indicative of a broader retreat in corporate commitments to climate goals, as seen in the finance sector and beyond.
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