Protestors have claimed a victory after the Royal Bank of Scotland (RBS) pulled out of a major sponsorship deal with the UK’s largest campaign to cut climate pollution.
RBS will not be sponsoring Climate Week in March 2012, a government and industry-backed effort to reduce greenhouse gas emissions. The bank’s high-profile support for the event this year was dogged by accusations of “corporate greenwash” because of its multi-billion pound financial aid for polluting industries like oil and tar sands.
“With RBS being the UK bank most heavily involved in financing fossil fuels, it was clear that their sponsorship of Climate Week in 2011 was a case of greenwash,” said Liz Murray, from the World Development Movement, which campaigns against poverty.
“We’re pleased that they heeded our criticisms and decided to step down from sponsoring the event in 2012. Now they need to move beyond greenwash and look at their core business.”