Responding to the news that Fred Goodwin has been stripped of his knighthood for his mishandling of affairs while at the helm of RBS, Mary Church, Friends of the Earth Scotland campaigner, said:

“Fred Goodwin isn’t the problem anymore, and stripping him of his knighthood is a distraction from the continued poor regulation of the taxpayer-owned bank.

“Post bail-out – and post Fred Goodwin – the bank has been ranked as the third biggest financier in the world of coal based electricity generators, and continues to pump billions into the tar sands industry, known as the most environmentally damaging project on Earth.

“The real challenge is to ensure that the UK Government takes responsibility and ensures RBS leads the way in financing the transition to a green economy, turning a bank that has done so much harm into a force for good.”

A UN report released this week, ‘Resilient People, Resilient Planet: A Future Worth Choosing’, lays out a blueprint for sustainable development and low-carbon prosperity, and outlines clear recommendations on how to mainstream good practice into economic policy as quickly as possible.

Church continued: “The government has an unprecedented opportunity to put this advice into action as the representatives of RBS’s main shareholder, the UK taxpayer.”

ENDS

For media enquiries, please contact:
 Per Fischer, Press Office, Friends of the Earth Scotland
 t: 0131 243 2719 

Notes to Editors

1. UN report: Resilient People, Resilient Planet: A Future Worth Choosing
www.un.org/gsp/report

2. Friends of the Earth Scotland is * Scotland’s leading environmental campaigning organisation * An independent Scottish charity with a network of thousands of supporters and active local groups across Scotland * Part of the largest grassroots environmental network in the world, uniting over 2 million supporters, 77 national member groups, and some 5,000 local activist groups – covering every continent. www.foe-scotland.org.uk