Across the whole of RBS, approximately 2.8% of our total lending is committed to the energy sector (down from 3% in 2011). Of this, 1.7% is to the Oil & Gas sector, and 1.1% is to the Power sector, which uses a mix of gas, nuclear, coal, oil and renewables. Some 68% of our 2012 structured financing in the energy sector was to renewable energy projects, with the remainder spilt between oil, gas and other electricity generation.
Wind power projects accounted for over half our structured financing in the energy sector in 2012. For the second year running, we loaned more than any other bank to renewable energy projects in the UK. We were also ranked third in US renewables power lending. Using data from Trucost, we estimate that our top 25 Power clients and top 25 Oil & Gas clients are on average substantially less carbon intensive than the industry average.