Highlighting the unsustainable lending practices of banks, who underwrite massive fossil-fuel extraction projects
Established in 1984, PLATFORM applies a long-term approach to environmental and social issues. For over a decade it has concentrated on gas and oil and has explored the interconnections and the possibilities for forcing change on the industry through the City and investment. Banks are pivotal to the realisation of new fossil fuel extraction projects and investment into renewables and energy efficiency. While some banks have at least begun to recognise that their lending can carry major climate consequences, one is holding back.
The project, “Stop the Oil Bank of Scotland” aims to push the Royal Bank of Scotland to shift its lending from fossil fuels to renewables. Currently, the RBS loans play a key role in forcing open the oil and gas frontier and are locking in vast carbon emissions into our future. Working closely with People and Planet the project aims to mobilise student pressure through utilising social networking sites like facebook and co-ordinating protests on their site: www.oyalbankofscotland.com . There will also be numerous publicity stunts throughout the UK at local branches, fresher fairs, recruitment events and particularly in Edinburgh where the RBS’ global HQ is. The plan is to try and force RBS to meet their demands by 2009. If their demands are not met the next step is to threaten the bank with a boycott.