RBS faces nationwide protests

Wednesday, 28 April 2010 9:15 AM

By Sam Dale

The Royal Bank of Scotland is the target of nationwide protests today over investment in human rights abusers and anti-climate change projects.

The taxpayer-funded bank is holding its AGM and faces protests organised by the World Development Movement (WDM) and People and Planet.

Protests will take place simultaneously across the country in over 15 locations, including London, Cardiff, Sheffield, Cambridge and Edinburgh.

Director Deborah Doane said: "It is unacceptable that our money is being used to finance projects that cause such serious harm to people's lives.

"RBS is directly involved with financing tar sands related companies that are responsible for destroying Canadian Indigenous communities' water, health and human rights.

"The government has flatly refused to stop RBS from making these unethical and immoral investments, which is a travesty."

Protesters believe the fossil fuels bought by the government-owned RBS wipe out the benefits of a Green Investment Bank programme.

Demands also include stopping the bank using public funds to finance "the most destructive and devastating companies in the world".

Campaigners point out that RBS has been involved with fossil fuel and tar sands related companies to the tune of over £10 billion and over £1 billion respectively companies since the bail out in 2008.

Rainforest Action Network campaigner Eriel Tchekwie Deranger, will protest in Edinburgh after being affected by tar sands investments in her native Canada.

She explained: "UK taxpayers have a right to know how their money is being spent. RBS is currently financing the largest and most destructive industrial project on the planet destroying my people, my community and my traditional lands."

Ms Doane added: "This is the most flagrant case of throwing good money after bad."

Edinburgh student Ruth Cape, 21, from youth activist network People & Planet, said:"Our money should be invested in green jobs building a low carbon economy, not squandered in poisonous tar sands."

Tags:
• banking crisis
,
• economy