Environmentally Friendly Products, Services and News  
Homepage Commercial User Section Government User Section
   LA21/Councils Feedback Submissions Site Map Courses Get News on your WAP
   Home >  > Finance

Related News

Responsible investment scheme launched Responsible investment scheme launched
Wed 21 Jul 2004
Royal Bank of Scotland back BTC pipeline Royal Bank of Scotland back BTC pipeline
Fri 06 Feb 2004
FTSE4Good raises human rights criteria. FTSE4Good raises human rights criteria.
Mon 14 Apr 2003
Brown set to raise green taxes. Brown set to raise green taxes.
Thu 24 Oct 2002
Climate change to cost $150bn a year – UN. Climate change to cost $150bn a year – UN.
Wed 09 Oct 2002


  Royal Bank of Scotland back BTC pipeline

Friday 06 February 2004
The Royal Bank of Scotland (RBS) has been revealed as a backer of the controversial Baku-Tbilisi-Ceyhan (BTC) oil pipeline, despite being a participant of the Equator Principles green and ethical guidelines.

The move again calls into question the real value of the Equator Principles, following last week’s report by the BankTrack network that claimed leading banks are undermining environmental commitments in their global operations.

The BTC pipeline will run through numerous protected and sensitive locations in Azerbaijan, Georgia and Turkey. RBS is joined other fellow Equator Principles signatories including ABN Amro, Citigroup and ING in funding the development.

Jules Peck, WWF's global policy advisor said; "The Royal Bank of Scotland's funding of this pipeline totally undermines its commitment, as a signatory of the Equator Principles, to responsible funding practices. As a test case, the BTC pipeline would seem to expose the signing of these banks to the Principles as a public relations exercise which allows them to continue with business as usual whatever the risks to people and nature."

 Text Only/Printable Version
Main Finance Section


Ethical Investment Ethical Investment
Insurance Insurance
Pension funds Pension funds
Banking Banking
Mortgages Mortgages
Sign up to our free electronic newsletter
Read our Privacy Policy

Related Sites:




Tell a friend | How to link to us | | About Us | Contact Us | Legal | Privacy Policy

© 2018 Green Media - Web Design Newcastle.