Nr. dodgy deals
RBS adopts climate rhetoric while financing global warming
NGOs welcome shift to renewables but challenge continued distortion
London, Edinburgh, Utrecht, Jul 11 2007
Following release of RBS’ Corporate Responsibility  report today, environmental NGOs have welcomed RBS’ financing renewables and recognition of climate change as a threat. Yet major concerns remain over RBS’ distortion of the reality of its support for fossil fuels and its continued refusal to accept responsibility for the climate impacts of its loans, unlike other banks.
Mika Minio-Paluello of PLATFORM said “Following our March report, RBS have dropped the title "The Oil & Gas Bank" and moved from climate denial to recognition that climate change is a major threat. We see this as a campaign success, but remain concerned that the bank continues to obscure its full impacts on the climate.”
Tom McKillop’s quotes in Wednesday’s Financial Times, which accompanied the launch of RBS’ 2006 CSR report, were highly vitriolic and critical of the NGO report “The Oil & Gas Bank – RBS and the financing of climate change”.  This followed extensive efforts by the NGOs to engage with the bank in a fair and accountable manner.
Mika Minio of PLATFORM said “After RBS’ PR team opportunistically resorted to climate denial in March, it’s ironic that McKillop is accusing us of ‘bad science’. McKillop’s attack on us seriously misrepresents our report – I’m wondering whether he even read it.”
 Published by PLATFORM, People & Planet, BankTrack, Friends of the Earth Scotland and new economics foundation on March 12 2007, the report showed RBS embedded emissions to be equivalent to one quarter of UK households in 2005 and greater than Scotland’s total emissions in 2006.
 People & Planet is the largest UK student network campaigning to end world poverty, defend human rights and protect the environment. Our network covers 70% of Britain’s universities and 10% of Sixth Forms. http://www.peopleandplanet.org.
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