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The Oil and Gas Bank

The Royal Bank of Scotland has long ploughed money into fossil fuels – but now we own it, shouldn’t it stop? Kevin Smith looks at the campaign to get the bank to take responsibility for climate damage. First published at http://www.redpepper.org.uk/The-oil-and-gas-bank/ by Kevin Smith. One of the main causes of the current banking crisis has been the...

A green economy could be ours

The government should use its shareholder position in the newly recapitalised banks to push for proactive change from within – This article was first published at http://www.guardian.co.uk/commentisfree/2008/nov/21/banking-crisis.     In early November, representatives from 20 different organisations from around the world gathered in Spain as part of the BankTrack network to lay out a response to the banking...

Banks need to clean up their green act

Before they benefit from any kind of bail-out, banks should commit to reducing their investment in fossil fuels. – This article was originally published at http://www.guardian.co.uk/commentisfree/2008/oct/08/fossilfuels.banks.   On the same day as it became apparent that RBS would need billions of pounds of taxpayers’ money to save it from collapse, the government’s climate change watchdog warned that we should...
BP and Shell: Rising Risks in Tar Sands Investment

BP and Shell: Rising Risks in Tar Sands Investment

This report details the range of existing and emerging risks that BP and Shell face from their expansion of production in the Canadian Tar Sands. We believe these risks are significant for BP and Shell shareholders and that investors should question the companies more deeply on their tar sands strategies, and call for greater transparency...

Life in the Landscape of Hydrocarbons – Exit Strategy III

By James Marriott – This article was first published in Platform’s Carbon Web newsletter, issue 10. How was it that the marshes of Hoo St Werburgh – so good for grazing cattle and sheep, so rich in birdlife – were turned into a site for Kingsnorth Power Station – with its chimneys and access roads,...
Cashing in on Coal - RBS, UK Banks and the Global Coal Industry

Cashing in on Coal – RBS, UK Banks and the Global Coal Industry

From concerns over air pollution and acid rain, to the recent rising awareness of carbon emissions and climate change, coal has been recognised as the dirtiest  and most inefficient fossil fuel option. Despite this, coal is experiencing a global boom, with corporations opening new mines and commissioning new power stations. High street banks are making...

Out of Sight, Out of Mind

This article was first published in Platform’s Carbon Web newsletter, issue 9. Is carbon capture and storage a safe climate mitigation option? As climate change increasingly becomes a defining political theme for the 21st Century, coal, oil and gas companies have not suffered the existential crisis that might have been expected. Instead, they are betting...
The Oil & Gas Bank: RBS & the financing of climate change

The Oil & Gas Bank: RBS & the financing of climate change

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....

The oil and gas bank

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,...

RBS-NatWest – forcing open the carbon frontier

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...

Western banks threaten Kazakh communities

A recent fact-finding mission by Crude Accountability and CRBM (Campaign for reform of the World Bank) found expansion of Kazakhstan’s Kashagan field by an international consortium promises environmental degradation and economic uncertainty for residents of western Kazakhstan. Elena Gerebizza and Kate Watters investigate – This article was first published in Platform’s Carbon Web Newsletter Issue 6....

The true cost of big bank’s bucks

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...