WDM condemns the link between public money and Cairn’s Arctic drilling. RBS underwrote loan to oil company one month before it acquired rig for arctic drilling.
A coalition of environmental and social justice organisations in the UK are condemning the use of public money through the 83% publicly-owned RBS to provide finance for Cairn energy that may have enabled them to start controversial offshore drilling in Arctic Greenland.
See coverage on Cairn's Greenland drilling here - Quest for oil reaches Earth’s final frontier - Herald
The revelation was made during the weekend that Camp for Climate Action was taking place at the Edinburgh headquarters of RBS [1] and a few days before the Greenpeace boat, the Esperanza, was challenged by a Danish warship near the Cairn rig. [2]
Edinburgh-based oil company Cairn Energy have started drilling in the Davis Straits off the coast of Greenland, nicknamed 'Iceberg Alley and close to where the recent Petermann glacier broke away. According to research that was revealed in the Sunday Herald, [3] RBS loaned $100 million to Cairn Energy on 11 December 2009, and then on 21 December 2009 it...



















