Responding to news that RBS will be updating its energy policy to exclude project financing of a number of harmful activities globally, Sonia Hierzig, Project Manager at the responsible investment campaign group, ShareAction, said:

“The strengthened energy financing policies of RBS implement many of ShareAction’s recommendations for more robust management of climate-related risks. They also make RBS the bank with the strongest energy sector policies out of the top five UK banks. Based on this progress, RBS would now rank 8th in our climate ranking of the 15 largest European banks, up from 11th previously. This is an encouraging step forward in a relatively short space of time, and will hopefully inspire other banks to achieve similar progress.”

For more information, please contact beau.osullivan@shareaction.org