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According to the FT, millions of customers holding insurance policies with household brands such as Churchill and Direct Line should see little immediate impact from RBS’s move to divest its insurance arm. The two brands, along with the household names of Privilege and Green Flag, which sells motor breakdown cover , are part of the insurance division of RBS, which the bank must divest in the next four years to satisfy European Union regulators. RBS Insurance estimates it has about 17m insurance policies in force, including motor, home , contents and life policies. In spite of speculation already commencing over potential suitors for the division, RBS said it was “very much business as usual” for its existing customers. “We will continue to exercise strong and responsible stewardship of our businesses, including those that are scheduled for divestment, with a strong focus on meeting customer needs,” said RBS. “We will seek to ensure that any disruption associated with the restructuring is minimised and will keep our customers fully informed as the divestment process proceeds.” |
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Think that plugging in your vehicle will protect the earth? Sure, this was the message that EPRI and the NRDC sent following a 2008 study that found that, if 60 percent of the U.S. fleet of light vehicles converted to plug-ins by 2050, CO2 emissions would drop by 450 million metric tons annually (the same as taking 82 million cars off the road) while electricity consumption would increase only eight percent.
Not everyone is convinced that plugs are the answer. The Environmental Transport Association in the UK, for example, believes that switching to electric cars could increase the rate of climate change , depending on how the electricity is created. Like the Natural Resources Defense Council report last year that found that PHEVs will add to pollution levels if the grid remains coal-centered, the ETA's statement warns that a shift from gasoline to electrons needs to be accompanied by a change in how we generate our electricity. Looking at how EU rules handles emissions, the ETA found that, if the regulations don't change, "sales of electric cars are likely to result in higher overall CO2 emissions and oil consumption." The ETA's soundbite for the report: if you're using coal to make electricy, then standard hybrids are better than plug-ins.
In the past, the ETA opposed a cash-for-clunkers-like plan in the UK. Each year, the ETA also organizes a Green Transport Week. |
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