Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Jobs at BankTrack
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2023-01-23 00:00:00
Berta Cáceres: new rules for banks could help stop defender killings
2023-01-16 00:00:00
In the balance: Why European due diligence legislation must cover financial services
2022-12-08 00:00:00
Exposed: Western banks funding Qatar’s carbon bombs
2022-12-08 00:00:00
Right-wing attack on sustainable finance is the latest form of climate denial
2022-12-14 11:08:26
HSBC announces it will no longer finance new oil and gas fields
2022-10-13 15:56:39
More major banks and insurers refuse to support EACOP
2022-09-16 10:38:48
European Parliament passes emergency resolution against human rights violations & environmental threats linked to EACOP
2022-06-27 09:49:16
Crédit Agricole takes first step to phase out from the oil and gas sector
Connect
2022-11-22 00:00:00
Banking on Thin Ice: Two years in the heat
2022-11-17 00:00:00
BankTrack Global Human Rights Benchmark 2022
2022-10-21 00:00:00
Burning forests in the name of clean energy? How banks are failing to exclude the harmful wood biomass industry from finance
2022-06-28 00:00:00
The East African Crude Oil Pipeline (EACOP): Finance Risk Update No. 3
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
See all publications
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Home › News
Environmentalists expose RBS toxic mountain investment
Start
Banks

By: Friends of the Earth Scotland
2013-05-14
Edinburgh

Contact:

For media enquiries, please contact:
Per Fischer, Press Office, Friends of the Earth Scotland
t: 0131 243 2715
e:
pfischer@foe-scotland.org.uk

 


Share this page:

Go to:
Start
Related Banks

RBS has financed corporations involved in Mountaintop Removal, one of the most drastic methods of coal mining, to the tune of $362.5m despite acknowledging the devastating impacts of the process, Friends of the Earth Scotland can reveal.

Mountaintop Removal literally blasts the tops off mountains to access thin layers of coal. Communities in the Appalachian Mountains in the USA where the technique has been pioneered report high incidences of severe health problems linked to the toxins released from the coal.

Paul Daly, Corporate Accountability Campaigner at Friends of the Earth Scotland said:

"Despite the greenwash, RBS are still financing corporations that carry out devastating practices like Mountaintop Removal, threatening the local environment and fuelling climate change globally.

"The scale of these operations is enormous with over 500 mountains levelled to date. This is like Scotland sacrificing all of its Munros to the fossil fuel industry.

"In the Appalachian Mountains explosives equivalent to that used in one Hiroshima bomb are detonated each week.

"Scotland has plentiful renewable energy resources and RBS as a publicly owned bank should lead the way in financing the transition to a true green economy."

Paul Corbit Brown, Campaigner from Keeper of the Mountain said:

"There is nothing ethical about mountaintop removal.

"It permanently destroys air, water, soil, communities and people's health. It has brought nothing but poverty and sickness to the communities in my home state."

END

Notes to Editors
1. RBS finance mountaintop removal by $362m http://foe-scotland.us2.list-manage1.com/track/click?u=b5ad0d61b2a67d22c68bf7d8d&id=d08890385b&e=568a313f6e . Read our case study athttp://foe-scotland.us2.list-manage.com/track/click?u=b5ad0d61b2a67d22c68bf7d8d&id=8e96146395&e=568a313f6e
2. Between 2007 and 2009, RBS led the underwriting of more than $7.5bn worth of loans to multinational oil companies mining tar sands in Canada
3. Between 2010 and 2012, RBS helped finance fossil fuel companies (underwriting share and bond issues, and financing loans) to the tune of £35.5 billion
4. Between 2005 and 2011 RBS bankrolled coal mining and power generation companies with £9.4 billion of finance.
5. RBS previously exposed for financing tar sands http://foe-scotland.us2.list-manage2.com/track/click?u=b5ad0d61b2a67d22c68bf7d8d&id=74923e4d16&e=568a313f6e and is still pumping money into tar sand development
6. most recently RBS has funding the Enbridge Northern Gateway tar sands pipeline to the tune of $131.25 million http://foe-scotland.us2.list-manage.com/track/click?u=b5ad0d61b2a67d22c68bf7d8d&id=ff2256fc71&e=568a313f6e
7. RBS ranked 8th biggest global investor in 20 biggest coal mining operations
http://foe-scotland.us2.list-manage1.com/track/click?u=b5ad0d61b2a67d22c68bf7d8d&id=605ec2503c&e=568a313f6e
8. RBS should be financing the transition to a true green economy - one that does not include finance for false renewable solutions like biomass or biofuel projects
http://foe-scotland.us2.list-manage.com/track/click?u=b5ad0d61b2a67d22c68bf7d8d&id=84cbf40c05&e=568a313f6e
9. Friends of the Earth Scotland is:
* Scotland's leading environmental campaigning organisation
* An independent Scottish charity with a network of thousands of supporters and active local groups across Scotland
* Part of the largest grassroots environmental network in the world, uniting over 2 million supporters, 77 national member groups, and some 5,000 local activist groups - covering every continent.
www.foe-scotland.org.uk

For pictures: http://www.flickr.com/photos/friendsoftheearthscotland/8737490275/

Go to:
Start
Related Banks

Related banks

NatWest Group United Kingdom

active
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted