Royal Bank of Scotland has joined the rush of finance firms pulling funding for dirty industries, ahead of its annual general meeting in Edinburgh tomorrow. The state-controlled bank said it would no longer fund new coal-fired power stations, as well as projects to extract oil from tar sands or the Arctic. HSBC made a similar commitment ahead of its own investor meeting last month, following a path set by rival European lenders ING, BNP Paribas and BBVA. Financial institutions are under growing pressure to play their part in honouring the Paris Climate Accord, which set out a path for a global shift towards low carbon power.
Telegraph 29th May 2018 read more »