LETTER: Climate campaign targeting banks

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The ongoing concern about the effects of climate change means it is necessary to continue to press for remedial actions.

Members of the Horsham Group of the World Development Group have joined with others to express dismay that UK banks are pushing the planet towards climate catastrophe by financing dirty coal, oil and gas projects around the world. Fossil fuel companies are worth £900 billion on the London Stock Exchange, and the top five UK banks underwrote £170 billion in bonds and share issues for fossil fuel companies between 2010 and 2012.

It is hoped, therefore, that others will join us in writing to the Business Secretary Vince Cable to urge him to introduce legislation which will require banks to report the carbon emissions released by the oil, coal and gas emissions they finance.

FRANK W. SMITH

Horsham World Development Group, Church Road, Horsham