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A Bank for the Future: Maximising public investment in a low-carbon economy
The recent financial crisis cost the UK £129 billion in annual GDP and increased the structural deficit by £93 billion. The initial budget cuts announced by the coalition government demonstrate the pain this is causing to public services. The UK can’t afford another meltdown, yet short term, high risk, carbon intensive investments are still business…
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Should RBS get credit for going green?
CLIMATE change protesters are threatening direct action protests against the Royal Bank of Scotland over dealings with the oil industry. They say the bank invests more in the fossil fuel industry than any other in the UK and claim this is damaging the planet. The Government-owned bank, however, prides itself on its environmental record. The…
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Taxpayers’ money involved in financing controversial tar sands companies
New report exposes RBS involvement in Canada’s “blood oil” Bank executives meet in Toronto and discuss concerns about public backlash over involvement in tar sands Environmental and development groups announce a week of protest around the RBS AGM in April over the bank’s tar sands investments It’s been revealed that RBS have been involved in…
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Cashing in on Tar Sands: RBS, UK banks and Canada’s “blood oil”
Tar sands extraction in Canada is devastating Indigenous communities, wildlife and vast areas of boreal forests, as well as being many times more carbon-intensive to produce than ‘conventional’ oil. The higher oil prices in recent years have meant that it’s become a more attractive prospect for oil companies to expand their operations in the costly…
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The Treasury, UKFI and RBS – the Government’s biggest climate change failure
Evidence submitted by Green Alliance, People & Planet, Platform and the Royal Society for the Protection of Birds to the parliamentary Environmental Audit Committee. This evidence outlines the extent to which RBS are continuing to provide finance for significant projects responsible for climate changing emissions, what UKFI is doing about this, what they would need…
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New legal action over latest RBS bail out
Last November’s £25 billion cash injection deemed ‘unlawful’ by campaigners Treasury’s intervention in bankers’ bonuses strengthens campaigners case Three pressure groups today served the Treasury with their application to the High Court, challenging last November’s decision to provide a further £25 billion of public money to the Royal Bank of Scotland. According to the Treasury’s…
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Royal Bank of Sustainability?
At the end of 2008, UK taxpayers became majority owners of the Royal Bank of Scotland, one of Britain’s largest banks. So, since we’ve paid for it, shouldn’t we have some say in how it is run? Kevin Smith, from the campaigning organisation Platform, puts the case – https://www.redpepper.org.uk/Royal-Bank-of-Sustainability/. In the year since it was…
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Shell Must Clean Up Its Act in Nigeria
First published in The Guardian, by Chima Williams (Environmental Rights Action/FoE Nigeria) as told to Ben Amunwa. As Nigerian villagers take Shell to court over huge oil spills, it’s time for the group to take responsibility for polluting practices. A court in The Hague is considering whether Shell can be held liable for alleged pollution in Nigeria, and…
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Remember Saro-Wiwa Newsletter: December 2009
View original. Today, a court in the Hague will consider for the first time whether Royal Dutch Shell can be held liable for destroying the livelihoods of four villagers in the Niger Delta. Among the plaintiffs is Chief Barizaa, an Ogoni elder, who spoke of how oil spills from a Shell pipeline devastated his land…
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RBS – publicly owned for one year: where’s our money gone?
A year ago, the British public became the majority shareholder in the Royal Bank of Scotland and to make this inauspicious anniversary, this weekend 40 leading figures including environmental and anti poverty campaigners, faith groups, trade unions, academia, MPs and the author Iain Banks have written to Alistair Darling to call on him to transform RBS into…