{"id":12655,"date":"2013-08-30T11:58:47","date_gmt":"2013-08-30T11:58:47","guid":{"rendered":"http:\/\/www.rtcc.org\/?p=12655"},"modified":"2013-08-30T11:58:47","modified_gmt":"2013-08-30T11:58:47","slug":"rbs-carbon-footprint-dwarfs-emissions-of-entire-uk","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2013\/08\/30\/rbs-carbon-footprint-dwarfs-emissions-of-entire-uk\/","title":{"rendered":"RBS\u2019 carbon footprint dwarfs emissions of entire UK"},"content":{"rendered":"<p><span style=\"color: #808080;\"><strong>The state-owned bank\u2019s true carbon emissions have been revealed to be 18 times the total emissions of Scotland<\/strong><\/span><\/p>\n<div id=\"attachment_12656\" style=\"width: 476px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-12656\" class=\"size-full wp-image-12656\" title=\"RBS logo pic Ell Brown px466\" src=\"http:\/\/www.climatechangenews.com\/files\/2013\/08\/RBS-logo-pic-Ell-Brown-px466.jpg\" alt=\"\" width=\"466\" height=\"290\" srcset=\"https:\/\/cdn.climatechangenews.com\/files\/2013\/08\/RBS-logo-pic-Ell-Brown-px466.jpg 466w, https:\/\/cdn.climatechangenews.com\/files\/2013\/08\/RBS-logo-pic-Ell-Brown-px466-101x63.jpg 101w, https:\/\/cdn.climatechangenews.com\/files\/2013\/08\/RBS-logo-pic-Ell-Brown-px466-261x163.jpg 261w\" sizes=\"(max-width: 466px) 100vw, 466px\" \/><p id=\"caption-attachment-12656\" class=\"wp-caption-text\">(Pic: Ell Brown)<\/p><\/div>\n<p>&nbsp;<\/p>\n<p><strong>By <a href=\"https:\/\/twitter.com\/RTCC_nilima\">Nilima Choudhury<\/a>\u00a0<\/strong><\/p>\n<p><strong>The Royal Bank of Scotland\u2019s loans to coal, oil and gas companies puts its carbon emissions up to 1,200 times higher than the figure reported by the bank, claims new research.<\/strong><\/p>\n<p>The <a href=\"http:\/\/www.wdm.org.uk\/sites\/default\/files\/rbs_true_carbon_emissions_2012.pdf\">study<\/a> by campaign group World Development Movement (WDM) showed that between January 2008 and mid-May 2013, the RBS group made loans or other investments to energy companies totalling over \u00a3131 billion.<\/p>\n<p>This drives the bank\u2019s 2012 carbon footprint up to 911 million tonnes of CO2.<\/p>\n<p>The bank officially reported 735,000 tonnes under the voluntary Carbon Disclosure Project which WDM claims includes only its direct use of fossil fuels and electricity, and business travel.<\/p>\n<p>Miriam Ross, WDM campaigner told RTCC: \u201cWe picked RBS as an example as it\u2019s the bank that the government, and therefore the UK taxpayer, has the biggest stake in.<\/p>\n<p>\u201cRBS is using our money to bankroll climate change. RBS is the only bank whose fossil fuel lending we\u2019ve looked into in this level of detail, but looking at other banks, for example HSBC, would be likely to yield similar comparisons.\u201d<\/p>\n<p>The financial data used in this study, which formed the basis of WDM\u2019s calculations, is publicly available, and was accessed via a Bloomberg terminal.<\/p>\n<p>The campaign group is calling on the government to force banks, pension funds and other finance companies to publish the emissions from the coal, oil and gas extraction they finance worldwide.<\/p>\n<p>\u201cWe need tough government action to wean the UK finance sector off dirty energy, and making banks come clean on the emissions from the fossil fuels they finance would be the first step,\u201d said Murray.<\/p>\n<p>New rules coming into force in October mean companies like RBS will be obliged to report the carbon emissions from their own energy use, but will not have to tell the public about emissions from the dirty energy projects they finance.<\/p>\n<p>Liz Murray, campaigner at the WDM, said: \u201cRBS\u2019s true carbon footprint dwarfs the emissions not just of Scotland where it is headquartered but of the whole of the UK.\u201d<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"The state-owned bank\u2019s true carbon emissions have been revealed to be 18 times the total emissions of Scotland\r\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3863],"tags":[213,2108,440,2323],"coauthors":[],"class_list":["post-12655","post","type-post","status-publish","format-standard","hentry","category-finance","tag-carbon","tag-co2","tag-emissions","tag-rbs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBS\u2019 carbon footprint dwarfs emissions 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