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RBS faces coal loans protest



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Published Date: 11 August 2008
THE Royal Bank of Scotland is set to face a raft of protest after details of its loans to coal companies emerged, environmental groups have warned.
Green protesters said today that RBS would face boycotts and possibly direct protests if it continues to pump cash into the industry.

A report has shown that over two years the Edinburgh-based banking giant participated in 27 different loans to coal projects, worth £8 billion.

And while RBS pointed out it was one of the biggest funders of renewable energy projects across the globe, campaigners warned of a "public backlash".

Friends of the Earth Scotland's chief executive Duncan McLaren reportedly said: "Coal is the dirtiest and most inefficient fossil fuel there is."





The full article contains 124 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 11 August 2008 11:19 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Royal Bank of Scotland
 
1

Ecto,

London 11/08/2008 12:55:40
"Coal is the dirtiest and most....." said members of the flat earth we want to live amongst the trees (who are our friends) society.
2

Marian,

11/08/2008 15:15:41
Given that the environmentalist parties never achieve more than a single figure percentage of the popular vote at elections - why does the UK media pay any attention to the garbage they spout forth?
3

AKH,

Dalkeith 11/08/2008 15:27:29
Any excuse to have a go at a Bank and industry trying to help Scotland.
The coal industry is doing its best to develop "clean coal" for use in the future - why not report on this sort of positive story rather than the style used in this one.
4

kevin smith,

london 12/08/2008 12:10:43
The report, "Cashing in on Coal," can be downloaded from http://carbonweb.org/showitem.asp?article=337&parent=39
5

AndrewT,

16/12/2008 11:41:05
'Clean Coal' DOES NOT EXIST. You might might as well say that burning coal is all going to be fine because they put a pink unicorn up the chimney that shits marshmallows... look, it doesnt exist. Its a myth being propagated to ensure expansion of a multi-billion dollar industry in the face of growing concern about climate change - there's a lot of money to make out of coal. Sounds great until you realise that if we burn coal in this country at the rate projected in current plans then the government is FORCED to contradict its own legislation requiring 80% emissions cuts by 2050. The expansion of coal is schitzophrenic when there is not a single study or example of CSS (Carbon Capture and Storage) working at an industrial scale anywhere in the world. The industry itself admits that we are AT LEAST 20 years from commercial development of the technology, assuming it works at all. I challenge ANYONE to find a concrete peer reviewed study confirming the readiness of CSS now or in the near future. Meanwhile 27 new open cast mines are set to open in Scotland making Lanarkshire particularly, the most heavily mined area of the Europe. What sort of backwards contradictory ridiculous energy policy is this? One that thinks of short term profit rather than long-term environmental security for scotland and for our entire world. Scotland could be setting an example to the rest of the world - there is potential for thousands of green jobs in offshore wind and tidal energy production, yet instead RBS and others choose to pump billions into coal extraction which quite literally will mark the beginning of the end for global climate. We are terrifyingly close to climatic tipping points and burning coal is a dirty habit we HAVE to kick. No special technology is going to bail us out here. it's adapt or die.

And if climate change doesn't scare you more than anything in the world then, at the risk of sounding arrogant, you are still ignorant of the facts. Tuck away any outrage you feel
6

AndrewT,

16/12/2008 11:42:58
(cont from above)
Tuck away any outrage you feel at that comment and go read more books. This is everyone's priority.

Start by watching this
http://www.wakeupfreakout.org/film/tipping.html

 

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