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Article

11 Jul 2007

Author:
Ian McConnell, The Herald [UK]

Royal Bank stands up for size of its carbon footprint

Royal Bank of Scotland's chairman, Sir Tom McKillop, claimed this week that an attempt by environmental activists to hold it responsible for the carbon emissions of oil and gas projects which it finances was "deeply, deeply flawed". Platform...claimed in a recent report backed by Friends of the Earth Scotland that Royal was responsible for carbon emissions greater than those of all of Scotland...McKillop highlighted the bank's position as the world's largest arranger of finance for renewable energy schemes...McKillop said the report implied "banks should be responsible for the carbon footprints of everyone they lend to". He added: "That would mean banks would be responsible pretty much for the carbon emissions of the world."