From: Environmental Finance
Three environmental groups have called on UK banks Barclays, RBS and Standard Chartered to compensate Sakhalin residents for pollution caused by a large oil and gas project that they helped finance.
Oil major Shell, as a part owner of the Sakhalin II project on the Russian Pacific island, is also named in the complaint. It was filed with the UK and Dutch governments on Tuesday and alleges that the companies are in breach of the voluntary OECD Guidelines for Multinational Enterprises.