Cure RBS of its oil addiction: RBS AGM report

Iain Thom, oil-addicted RBS banker

Inside the RBS AGM today members of three Canadian First Nations spoke out against UK public money helping RBS invest in the companies extracting tar sands in Alberta.

A group of campaigners dressed as oil-addicted bankers meanwhile staggered around outside drinking from oil cans and calling on the Government to cure RBS of its oil fossil fuel addiction.

The Canadians successfully went inside to the AGM to ask questions directly to the RBS board to put them under pressure for their investments in tar sands and the devastating effect the industry has on First Nation land. Since the 2008 bailout RBS has raised £5.6 billion in corporate financing to companies involved in Alberta’s tar sands extraction and pipeline development. And there is no let up, in the last year alone RBS have provided finance worth £2.2 billion according to new figures released yesterday by the Rainforest Action Network.

The pressure seems to be getting through. During the AGM the RBS chairman agreed to meet with Jasmine Thomas, Melina Laboucan-Massimo and Clayton Thomas-Muller who spoke about the tar sands at last night’s ‘People’s AGM’ at Edinburgh University.  

Pictures of the day are here.  Media coverage to come...