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Article

22 Aug 2010

Author:
Rob Edwards, Herald [Scotland, UK]

How RBS funds ‘dirty oil’

Royal Bank of Scotland [RBS] is facing its biggest protests in a long history of protests. Environmental groups and hundreds of climate protesters are camped on the lawn at RBS’s…headquarters...[to protest] the bank’s role in funding the world’s dirty oil and gas industries, at huge environmental cost. A report revealed today by the Sunday Herald shows that RBS has provided nearly £13 billion worth of funding to the oil and gas industries since it was bailed out by the taxpayer two years ago...Among the 66 companies backed by RBS are well-known names such as BP, Shell, ConocoPhilips, Tullow Oil, Trafigura and Cairn Energy...An RBS spokesman said: “As a major international bank we provide support for businesses working across many industries…In…recent years, RBS has been one of the most active banks in the world in providing funding for renewable energy projects.”...[also refers to Bloomberg]