Email: RBS u-turn on funding cluster bombs


12:03 am - September 1st 2011

by Newswire    


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The Royal Bank of Scotland has tonight u-turned and accepted that it should stop funding cluster bombs.

An internal email said:

From: “RBS Group Customer Relations”
Date: 31 August 2011 21:04:15 GMT+01:00
To: *******
Subject: RBS Group’s Defence Sector Position
Reply-To: GCRExecutiveSupport@rbs.com

RBS Group Customer Relations has sent you this e-mail. If this e-mail does not display properly simply view online

RBS Group’s Defence Sector Position
Dear Sir/Madam,

Thank-you for your e-mail regarding the RBS Group’s approach to defence sector lending, specifically relating to the production of cluster munitions.

The Group’s policy in this area is both comprehensive and clear. It states that RBS will not knowingly support any application for funding or financial services that would lead to contravention of the Oslo Convention on cluster munitions. We will always seek to ensure that we only deal with defence sector clients whose activities are compliant with both the letter and the spirit of the Convention.

After discussions with various NGO groups we have identified some defence sector clients whose activities could be considered to be outside the spirit of the Convention. As a result, we will be suspending all further services to any client where we can not be certain that they are in compliance with our policy. We will seek to work with both the UK Government and NGO groups to create clarity on this issue, and encourage other banks to do the same.

RBS Group

Amnesty UK had been running a pretty vigorous campaign, fronted by director Chris Atkins, on the issue.

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Reader comments


1. Will

The Co-operative Bank have a comprehensive ethical policy covering arms, responsible investment, animal welfare and lots of other areas as voted for by members. I’ve banked with them for years for this reason. For eg they won’t provide services to companies testing cosmetics on animals, withdrew Christian Voice’s account and actively invest in renewable energy.


Reactions: Twitter, blogs
  1. Liberal Conspiracy

    RBS u-turn on funding cluster bombs – exclusive email http://t.co/FtUVkE1

  2. Nicola Chan

    RBS u-turn on funding cluster bombs – exclusive email http://t.co/FtUVkE1

  3. tracy e

    RBS u-turn on funding cluster bombs – exclusive email | Liberal Conspiracy http://t.co/vdem0l5 via @libcon

  4. Chris Atkins

    RBS u-turn on funding cluster bombs – exclusive email http://t.co/FtUVkE1

  5. WishforBetter

    RBS u-turn on funding cluster bombs – exclusive email | Liberal Conspiracy http://t.co/YjNP9Vm via @libcon yep got mine in the mail today :)

  6. janet ewan

    RBS u-turn on funding cluster bombs – exclusive email | Liberal Conspiracy http://t.co/vdem0l5 via @libcon

  7. John Sargent

    RBS u-turn on funding cluster bombs: http://t.co/EvpXiQ8

  8. Noxi

    RT @libcon: RBS u-turn on funding cluster bombs – exclusive email http://t.co/hxmLnIu

  9. businessbankaccounts

    Email: RBS u-turn on funding cluster bombs | Liberal Conspiracy http://t.co/08uHpCD

  10. Matthew Bourgeois

    Not only do RBS hire me but they stop funding cluster bomb manufacture. That was nice of them, I was worried about that http://t.co/NXVs8Ki

  11. D Deans

    That's nice of them. (Email: RBS u-turn on funding cluster bombs) http://t.co/mcAF3Dq via @libcon

  12. mark a williams

    Email: RBS u-turn on funding cluster bombs | Liberal Conspiracy http://t.co/X7rUSGz via @libcon

  13. David Wearing

    RBS to stop investing in firms that manufacture cluster bombs, following campaign http://t.co/M4NEplg

  14. Thoughtcat

    RBS to stop investing in firms that manufacture cluster bombs, following campaign http://t.co/M4NEplg

  15. Sam Gluck

    RBS to stop investing in firms that manufacture cluster bombs, following campaign http://t.co/M4NEplg

  16. Matt Hayler

    RBS to stop investing in firms that manufacture cluster bombs, following campaign http://t.co/M4NEplg

  17. Staffordshire UNISON

    RBS to stop investing in firms that manufacture cluster bombs, following campaign http://t.co/M4NEplg

  18. AdamFlude &Friends

    RBS to stop investing in firms that manufacture cluster bombs, following campaign http://t.co/M4NEplg

  19. Michael Bater

    Email: RBS u-turn on funding cluster bombs | Liberal Conspiracy http://t.co/2PUmF3F via @libcon

  20. K Naismith Robertson

    Email: RBS u-turn on funding cluster bombs | Liberal Conspiracy http://t.co/liNagQN via @libcon





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