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Since the last letter was sent at the end of January, we have met with the Royal Bank of Scotland. The notes are in the process of being agreed by both NUS and RBS, so when we are able to publish a version I’ll make sure they appear somewhere on officeronline.

In terms of our meeting with RBS, I found it very productive, we were able to put across our issues, concerns and demands of the campaign, whilst listening to the RBS’ perspective, and their arguments in response.

As I wanted to report to Annual Conference on the progress of discussions, Finance Committee have brought forward a motion to be discussed and debated entitled “NUS’ Banking Arrangements. Constructively working to win the fight on climate change.”

Conference Believes

NUS’ bank account is with NatWest, owned by the RBS
The National Treasurer wrote to RBS demanding action on allegations of climate change malpractice
Students at Edinburgh and Leeds have voted against RBS’ strong links to the ongoing exploration of oil and gas
RBS invests heavily in renewable sources, but this will be irrelevant if they do not cut their funding of heavy oil extraction
RBS should agree, with the banking sector, a formal carbon accounting process. This will be used to calculate emissions from loans and financial support. This should be made public
NUS is not a climate change campaigning organisation
NUS should encourage students, through students’ unions, to be ecological and have ethical considerations

Conference Further Believes

NUS’ internal processes should be reflective of our campaigning work
Money from the student movement should not be used to fund destructive climate change
RBS should use their role within the business sector to shape the demands of the economy
When deciding our banking provider, we should consider cost, value for money and other relevant ethical considerations

Conference Resolves

To constructively engage with RBS over the issue of climate change
Be open and transparent about conversations and agreements with RBS
To continue to recognise People and Planet as the experts on issues of Climate Change from a student perspective

I do hope you will be able to support it, but if you have any questions, please let me know.

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