RBS Fossil Fuels Divestment – our reaction

April 18, 2016

Today RBS announced that it has doubled its lending to renewable energy projects to £1 billion, whilst cutting fossil fuel financing by 70%, to £6.6 billion. Whilst this new direction of travel is welcome, it should be greeted with a degree of scepticism from the bank formerly known as ‘the […]

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HSBC feeling the heat as AGM looms

April 12, 2016

Last month we launched our Quit Coal campaign. Since then several hundred people have emailed CEO Stuart Gulliver (full text here) and senior Sustainability managers at HSBC to express their anger over HSBC’s reckless financing of coal extraction, and to demand that their new Mining and Metals Policy explicitly excludes […]

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HSBC responds to #QuitCoal

April 11, 2016

Last month, we launched our Quit Coal campaign. HSBC have clearly felt the heat, because they’ve already begun to reply to people taking the action. Their response is below. Read our breakdown and riposte here. One thing is for sure, there is every reason to continue applying pressure. HSBC are […]

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Buried on Budget Day 2016

March 17, 2016

Much of 2016’s post-budget analysis has focused on a headline-grabbing but arguably regressive sugar tax, the continued downward revisions of GDP, and Osborne’s surprisingly generous tax giveaways to corporations, businesses and the wealthy – which may yet cause a £56 billion hole in his so-called economic “plan”. There are some […]

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£22 billion loss on RBS betrays the nation

March 16, 2016

On the same day that George Osborne announced a further £3.5 billion cuts to public services, a new analysis of official figures shows that the Government is proposing almost £22 billion of losses on the sale of publicly-owned bank RBS. Responding to the news, Fionn Travers-Smith, Campaign Manager of Move Your […]

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On Coal and Capital: Demand that HSBC Quit Coal

March 15, 2016

This month, for the first time in recorded history, average temperature in the northern hemisphere breached 1.5°C above the pre-industrial baseline. This is the kind of data point that scientists treat as anomalous, but which threatens to become the new normal. January and February were the warmest months ever, and […]

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Letter to Stuart Gulliver, CEO of HSBC

Below is the full text of our letter to HSBC CEO Stuart Gulliver (also being delivered to John Laidlow, BankTrack‘s contact at HSBC, and Simon Martin, Head of Group Corporate Sustainability), which you can send using our tool on the Quit Coal campaign page. All of the claims made are […]

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Why do we need banks? 1: Credit

March 14, 2016

It’s quite plain to see that something is wrong with the current banking system. From crisis to ongoing scandal and outrageous bankers’ bonuses, the banks have rarely been out of the headlines, and for all the wrong reasons. In fact, the banking system is actually causing or exacerbating some of […]

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Scottish ministers urged to revolutionise economy with banking for the common good

March 10, 2016

As if a microcosm of the rest of the UK, Scotland suffers acutely from the UK’s highly concentrated and unreformed banking system. Businesses struggle to get credit, branch closures are leaving communities abandoned, and extractive investment banking arms hoover up retail profits, funnelling billions into nuclear weapons, environmentally disastrous projects, […]

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HSBC results show the bank’s contempt for law

February 22, 2016

  HSBC released its annual results today, reporting a £13.3 billion profit, and £2.5 billion in bonuses to top staff. New analysis from Move Your Money, also released today, shows that over the last 5 years executive rewards at HSBC have been more closely correlated to shareholder value than to fines […]

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£2.5bn RBS provisions show its time for a dramatic rethink

January 27, 2016

RBS bank today announced new provisions for litigation and mis-selling compensation, totalling £2.5billion in the latest blow to Britain’s biggest lender. The news sent RBS shares tumbling to 250p, their lowest level since 2012. Responding to the news, Fionn Travers-Smith, Campaign Manager for Move Your Money, said: “These latest losses […]

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New year, same banks?

January 22, 2016

2016 is barely three weeks old and yet throughout the business pages talk is rife of the next financial crisis. RBS economists have advised investors to “sell everything”, markets are panicking about a slowdown in China, and central banks keep interest rates at historically-low rates for fear of rocking the […]

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Guest Blog – My money, my life: Lifting the lid on financial abuse

December 20, 2015

Last week (10 December 2015) The Co-operative Bank announced its return to campaigning with the launch of its latest ethical campaign, ‘My money, my life’ raising awareness of financial abuse in relationships, in partnership with domestic abuse charity, Refuge. Thanks to the support of our customers, the Bank has a […]

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Co-operative Bank closes Palestine Solidarity Campaign accounts

November 30, 2015

Last week it came to light that the Co-operative Bank has closed the accounts of the Palestine Solidarity Campaign and around 20 PSC-related accounts, including those belonging to 10 local PSC branches, as well as accounts relating to the Cuban Solidarity Campaign. In a statement justifying the decision the bank said: “We […]

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RBS debate exposes Government weaknesses

November 13, 2015

A week ago MPs took to the floor of the House of Commons to debate banking reform and the future of the public ownership of the Royal Bank of Scotland. Around 35 MPs attended throughout the 3 hours of discussion, with their numbers no doubt boosted thanks to more than […]

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