The Royal Bank of Scotland is covering up involvement in carbon emissions greater than those of the whole country of Scotland. PLATFORM's report “The Oil & Gas Bank”reveals the extent to which RBS-NatWest is providing the financial fuel driving climate change. RBS is more "oil" than "royal", as the bank financing oil & gas extraction.…
A recent report from PLATFORM uncovers the climate impacts of the Royal Bank of Scotland’s identity as “The Oil & Gas Bank” – This feature article was first published in Platform’s Carbon Web Newsletter, Issue 7. The report ‘The Oil & Gas Bank – RBS & the Financing of Climate Change’ investigates RBS-NatWest’s role in fuelling climate change,…
The Royal Bank of Scotland is intimately involved in controversial oil projects from Africa to the Arctic, according to new research published today, Monday 12 March 2007.[1] As the government prepares to publish its draft Climate Change Bill, the report “The Oil & Gas Bank” reveals the extent to which RBS-NatWest is providing the financial…
This analysis report was first published in Platform’s Carbon Web Newsletter, Issue 6. After months of haggling over the Sakhalin II gas project, differences between Shell and the Russian government have been resolved through a change in project ownership. The Russian state gas company Gazprom will become the majority shareholder, while Shell, Mitsubishi and Mitsui…
PLATFORM investigates the role of RBS in financing oil and gas projects around the world – This report was first published in Platform’s carbon web newsletter, issue 4. February saw Britain’s private banks including Royal Bank of Scotland (RBS), HSBC and Barclays post record profits. Revenues were boosted by the high oil price and the…
In May 2004, 39 civil society groups, from 15 countries, warned commercial banks of extensive violations of the Equator Principles by the Shell-led Sakhalin II project. This update from 2005 finds that events over the past ten months show a deteriorating situation, constituting further violations.
Shell’s Sakhalin II integrated oil and gas project fails to comply with the Equator Principles on responsible lending. The project on Sakhalin Island in Russia’s Far East will have severe environmental impacts, including threatening the critically endangered Western Gray Whale with extinction, damaging habitats of endangered bird and fish species, and polluting important fisheries.