Oil investors (From The Argus)
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Oil investors
4:50pm Friday 5th February 2010 in
In the article “Steps taken to protest over oil” (The Argus, February 1), you quote an RBS spokesman as saying that, “the firm had not provided finance [for] tar sands projects since 2006 and was committed to working ‘in a sustainable manner’”.
I would like to point your readers to an article published on FT.com on November 16, 2009, in which it was reported that, according to calculations by campaigners, “since the start of 2007, RBS has extended $13.9bn (£8.3bn) in loan guarantees or debt and equity underwriting to companies linked to oil sands”.
Since its recapitalisation in 2008, RBS has invested billions of pounds in unsustainable fossil fuel intensive projects.
It is now up to us taxpayers to force RBS on a more sustainable path of providing finance for renewable energy generation.
Susanne Schuster
Valley Drive, Brighton
Comments(2)
oldmarket
says...
5:50pm Fri 5 Feb 10
yorkie44 wrote:Quite. Nobody will be thanking renewable energy if the lights start going out. More energy efficiency might be a wiser investment route.
Why should anybody put money into renewable energy such as wind which is one of the most expensive ways of generating a little energy and when we really need it nothing will be provided.
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yorkie44 says...
5:46pm Fri 5 Feb 10