Fri 1 Nov, 2019

New RBS CEO Alison Rose has said “the threat of climate change” will be a “pillar” of the bank’s strategy under her leadership.

Responding, Scottish Green co-leader Patrick Harvie said: “This is welcome language from the RBS chief. But if Alison Rose is serious about making the climate emergency one of the pillars of the RBS strategy, she should follow up on this welcome change with a clear commitment to ending investment in the fossil fuel industries and giving priority to a just transition to a truly sustainable economy.

“RBS did tighten its policies in this area last year, after a long campaign against their involvement in some of the most environmentally destructive industries on the planet. However, they need to go beyond those minor changes and commit to be completely fossil-fuel-free, now and in the future.

“If they do that, they will be giving genuine global leadership which is badly needed as we build a sustainable future for all of us.”

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The demand from Extinction Rebellion on the parliament’s investment partner Baillie Gifford, which invests in oil giant Shell, comes after it emerged almost half of universities in the UK have committed to cutting ties with fossil fuel firms.

Commenting, Scottish Green co-leader Patrick Harvie said: “It’s important to lead by example, which is why MSPs of all colours have been calling for an end to unethical investments of our pension funds.