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Royal Bank of Scotland Targeted for Investing in Climate Change

Letitia Simspon | 15.10.2007 14:12 | Climate Chaos | Sheffield

A group of activists leafletted the Royal Bank of Scotland in Broomhill, Sheffield as part of a National Day of Action. Over 20 actions have taken place all around the country including banks being locked up in Norwich and polar bears blockading in Bristol. This is all part of a campaign against the Royal Bank of Scotland which invests heavily in oil and gas, which is accelerating climate change.

RBS-NatWest publicly promotes itself as "The Oil & Gas Bank". They provide
the financial fuel that is accelerating climate change. Without these loans
to oil and gas corporations the projects would not happen. [2]It is estimate
that *in 2006, the bank provided over $10 billion to fossil fuels – more
than five times that provided to renewable energy.[3]*

RBS provide oil corporations with loans to build new massively ecologically
detrimental drilling rigs, pipelines and oil tankers. [4] And as RBS's
profits rise so does the carbon in the atmosphere.

Global climate change already forces more people from their homes each year
than war. And as the effects worsen, one in seven people on Earth today
could be forced to leave their homes over the next 50 years. [5].

In Sheffield people were leafletted as they entered the bank, and one women closed her account. Other actions have occured in Sheffield today and will be reported later.


[1] The day of action was called by the UK Rising Tide Network at this years
Camp for Climate Action which took place next to Heathrow Airport.

[2] In 2005 emissions from RBS financed oil and gas projects was about a
quarter of the amount produced by all UK homes.

[3] taken from: *The Oil and Gas Bank; RBS and the financing of climate
change *

[4] RBS is helping force open the carbon frontier, financing controversial
projects in Nigeria, the Caucasus and Wales. Its involvement in Angolan and
Nigerian oil fields encourages corruption and conflict, while gas projects
from the Arabian Gulf to the Gulf of Mexico threaten environmental

[5] Figures from "Human Tide: The Real Migration Crisis," by Christian Aid.
The report calls for "urgent action by the world community" if the worst
effects of this crisis are to be averted.

Letitia Simspon
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