Climate protesters have gathered outside the Royal Bank of Scotland headquarters calling on the bank to stop financing fossil fuels investments.

The protest, organised by Friends of the Earth Scotland, coincided with the bank's annual general meeting at the Gogarburn base, where shareholders met today.

A recent report carried out by BankTrack - an international body that monitors global banking investments - revealed that RBS has invested over $4 billion into fossil fuels since the signing of the Paris Climate Agreement in 2015.

Despite the bank cutting back on fossil fuel investments, campaigners say more needs to be done and are calling on banks to put a complete end to fossil fuel financing by the next United Nations Climate Conference, this December.

Lise Masson, Climate Campaigner at BankTrack said: "As we witness the increasing occurrence and violence of climate impacts around the world, we need banks to take much bolder steps to address climate change.

"RBS has the opportunity to step forward and lead the way out of fossil fuel finance in the UK. That means ending financing for all new fossil fuels, and starting to phase out existing finance for this climate-wrecking industry.” 

"Ric Lander, Divestment Campaigner at Friends of the Earth Scotland said: “Burning of fossil fuels is the key driver of climate change. By continuing to finance businesses who want to extract, produce or sell fossil fuels, RBS is exacerbating the climate crisis and profiting from this destruction.

“In recognition of the environmental damage that oil, gas and coal companies are causing pension funds, universities, and local and national governments are divesting from fossil fuels apace. RBS appears to have begun this journey, but the lack of clarity over the Bank’s direction is alarming.

"Having plunged the UK into the financial crisis, RBS needs to make a clear and bold plan to divest from the climate crisis.”


