Across the whole of RBS, approximately 3% of general lending is committed to the oil and gas and power sectors combined. Of this, 1.8% is to the oil and gas sector and 1.2% is to the power sector, which uses a mix of gas, nuclear, coal, oil and renewables. Over the last three years, due to changes in RBS’s business, lending to the energy sector has dropped by almost half (20% in the last year) based on committed exposures at the end of each year.
RBS have loaned more than any other bank to renewable energy projects in the UK in 2011 and more finance to wind power projects than any other type of energy project. In the UK, over two thirds of RBS energy project finance went to renewables. RBS estimates its top 25 power clients and top 25 oil & gas clients are less carbon intensive than the industry average. RBS’s largest lending exposures are generally to energy companies with lower carbon intensity than their peers.