Royal Bank of Scotland Pulls Back Fossil Fuel Investments as Green Energy Loans Grow

Royal Bank of Scotland Pulls Back Fossil Fuel Investments as Green Energy Loans Grow l The Guardian

By: Damian Carrington, April 17, 2016

  • Royal Bank of Scotland has reduced its global lending to oil and gas companies and doubled its green energy loans in the UK, according to new figures released to the Guardian. The move may indicate a change of direction for the bank, which was until recently one of the world’s biggest financiers of fossil fuels. Figures show the bank cut investments by 70% in oil and gas firms in 2015 and doubled UK green energy loans to £1bn a year.