Treasury taken to court for RBS loans to Vedanta Resources, GCM
Posted on | October 20, 2009 | Comments Off
Ministers face embarrassment in the high court when the Treasury is forced to explain why the state-owned Royal Bank of Scotland has been lending money to the controversial mining firm Vedanta Resources, whose activities have been criticised by another government department. The legal battle will highlight the financial support being given by the bank to a range of other companies engaged in activities such as coal mining and Arctic oil drilling – all of which could be considered contrary to wider policy commitments on climate change and carbon emissions.
See http://www.guardian.co.uk/business/2009/oct/18/rbs-vedanta-loan-court-case.
Sign the petition telling Chancellor Alastair Darling to take action on RBS’s appalling record in financing fossil fuels. See http://38degrees.org.uk/page/s/RBS#petition.
Tags: alumina > aluminium > Asia Energy > Bangladesh > Chhattisgarh > climate change > Coal > GCM Resources > Goa > India > iron ore > legal > legal cases > Niyamgiri > Orissa > People and Planet > Phulbari > Platform > Royal Bank of Scotland > Sesa Goa > UK > UK Government > Vedanta > WDM
