Roger Godsiff MP writes to Darling re RBS funding dirty oil extraction
5 December 2009
Dear Roger Godsiff,
I have just learned that our national bank, the Royal Bank of Scotland, has lent or underwritten £8bn for exploiting the tar sands in Alberta, Canada. This is a crazy scheme for extracting oil by strip mining, destroying huge areas of forest. Extracting oil from this highly impure source requires a huge amount of energy, and causes pollution of an unprecedented intensity in the oil industry.
Under Stephen Harper since 2006, Canada has torn up its commitment to Kyoto and is doing its damnedest to scupper the talks at Copenhagen.
RBS’ involvement in this globally threatening business seems to me to dwarf their barefaced cheek in planning huge bonuses for some of their employees. If it’s our bank, we should be able to stop it investing in this business.
I hope you will raise this with the ministers concerned as soon as possible.
Yours sincerely
Chris Duggan
8 December 2009
Rt Hon Alistair Darling MP
Chancellor of the Exchequer
HM Treasury
1 Horseguards Road
London
SW1A 2HQ
Dear Alistair
Re RBS and Environmental Policies
Mr Duggan was in touch with my office recently concering the above matter and I attach a copy of his email for reference.
I would also be grateful if you would be kind enough to give me some background on other similar issues raised in the press recently which raise environmental investment concerns and include:-
1. Alberta, Canada – RBS financing loans to coal, oil and gas companies, including money for projects such as the massive tar sands projects in Alberta, Canada.
2. India – an entire tribal group is under threat from an opencast bauxite mine planned by a British mining company supported by a subsidiary of RBS.
3. Democratic Republic of Congo – thousands of refugees are caught up in an ongoing civil war inflamed by oil exploration financed by RBS.
With thanks for your assistance in this matter
Yours sincerely
Roger Godsiff MP
