RBS must investment in renewable energy not toxic fuels!
Following the recent Government bailouts of the Royal Bank of Scotland, we - the taxpayers - own one of the biggest financial backers of dirty development projects and companies like Eon who are fuelling climate change. It doesn’t have to be that way.
With 70% of RBS-Natwest now publically owned, we have a once in a lifetime opportunity to create a Royal Bank of Sustainability. We, the owners of RBS, must force the Treasury to steer RBS's investments away from climate catastrophe and towards a low-carbon future.
The Treasury's, with its 'arms-length' approach to managing the nationalised banks - has failed in its duty to protect our interests. That’s why People & Planet has decided to legally challenge the Treasury's bailout of RBS. We're suing the Government, and questioning its well-rehearsed public commitment to leading the the fight against climate change.
A transition towards a low carbon economy requires massive investment in new infrastructure, technologies, industries, renewable energy and green jobs. The Treasury's current mismanagement of RBS and other banks is in blatant contradiction to both the Climate Change Act and its stated objectives for the Copenhagen global climate deal. The Government needs to put its money - our money - where its mouth is and begin transforming RBS into the Royal Bank of Sustainability.
Now is the time for Alistair Darling to be both bold and responsible. For too long, his Treasury has been in thrall to the City. If we are to achieve the kind of fundamental change that this legal challenge seeks, we will need to convince the Treasury that business as usual is not a realistic option. We must exercise our power as citizens and demand change. Time is running out – the next few months are critical.
People & Planet believes the time is right to hold the Treasury accountable. This legal challenge is the biggest fight we have ever taken on, but we see no alternative. We must radically shift RBS’s investments away from fuelling climate change and instead ensure it safeguards the future of the planet and all its people.
Take Action Now!
Email the Treasury and tell them to manage their 70% share ownership of RBS in favour of the solutions to climate change, instead of the causes of climate change: http://bit.ly/TQo8k
Lobby your MP to sign EDM 880: RBS and Climate Change, calling for environmental regulation on the banks lending decisions: http://bit.ly/1f1zHq
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