HEADQUARTERS
London, United Kingdom
publicly traded
YES
total assets
£708 billion
largest shareholders
BlackRock Investment Management (UK) Ltd. (4.7%)
Capital International Ltd. (3.7%)
MFS International (UK) Ltd. (3.4%)
Norges Bank Investment Management (3%)
The Vanguard Group, Inc. (2.4%)
Massachusetts Financial Services Co. (1.6%)
Sanders Capital LLC (1.5%)
operations
Global; largest influence in the UK
subsidiaries
NatWest Holdings Limited
Coutts & Co.
NatWest Markets Plc
The Royal Bank of Scotland International Limited
The Royal Bank of Scotland Plc
National Westminster Bank Plc
Ulster Bank
Lombard
RBS International
Holt’s Military Banking
FreeAgent
Child & Co.
financing overview
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climate crisis
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genocide in Gaza
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Palestine occupation
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cont. weapons
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Migrant abuse
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£7,702,760,000
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£303,687,000
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£2,393,600,000
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£1,350,400,000
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£318,000,000
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#5 British banking group in fossil fuel financing
Finances oil and gas trading companies |
Provided over 300 million pounds in loans to companies complicit in the genocide in Gaza
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Provided over £2 billion in loans and underwriting services to various businesses involved in Israeli settlements
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Provided over £1 billion in loans and underwriting services to nuclear-weapon companies between 2021 and 2023
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Bankrolling Airbus and Jacobs Solutions
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Company highlights and involvement
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company involved
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funding
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climate crisis
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gaza genocide
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cont. weapons
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PALESTINE OCCUPATION
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migrant abuse
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BP
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£690.9m
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ENI
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£193.9m
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GLENCORE
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£194.9m
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ITHACA ENERGY
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£174.2m
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AIRBUS
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£315.2m
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BAE SYSTEM
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£72.8m
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HONEYWELL
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£452.8m
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JACOBS SOLUTIONS
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£144m
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LEONARDO
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£110.4m
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ROLLS-ROYCE
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£256m
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VOLVO GROUP
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£991m
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CNH INDUSTRIAL
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£212m
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Fossil fuel companies bankrolling the climate crisis
Funded: £691M
Climate Crisis
gaza genocide
BP, one of the world’s largest energy corporations, is a symbol of ruthless greed and imperial exploitation. Born as the Anglo-Persian Oil Company in 1909, it was the engine of British imperialism, securing control over Iranian oil through corruption and coercion while the Iranian people were left impoverished and dispossessed.
BP’s legacy is stained with environmental catastrophe and human suffering. The 2010 Deepwater Horizon disaster unleashed nearly five million barrels of oil into the Gulf of Mexico, killing untold marine life and devastating ecosystems, all while BP cynically promoted its “Beyond Petroleum” greenwashing campaign.
Now, BP is complicit in genocide, supplying oil that fuels Israel’s brutal war machine against Palestinians. Weeks into the genocide, BP accepted an Israeli gas exploration license, proving yet again its callous disregard for oppressed communities.
Funded: £195m
Climate Crisis
Glencore, one of the world’s largest mining companies and a leading trader of fossil-fuel commodities, embodies the brutal realities of neocolonial exploitation. Glencore accounts for a significant portion of global coal production, operating mines in countries like Colombia, South Africa, and Australia, while systematically ravaging environments and trampling human rights.
Its operations in the Democratic Republic of Congo (DRC) are a stark example, where investigations revealed years of waste acid discharge from its Luilu copper refinery, causing severe pollution and ongoing spills. Glencore’s denial of responsibility for child labour at its sites, instead blaming impoverished locals, is a cynical attempt to deflect from its own complicity. Further exposing its predatory practices, the Paradise Papers leak unveiled Glencore’s ties to controversial figures who facilitated the acquisition of undervalued mining rights, robbing the DRC of a tenth of its annual budget.
Glencore’s corruption extends across Nigeria, Côte d’Ivoire, and Cameroon, with its former head of oil trading and four executives facing UK bribery charges, including allegations of flying cash bribes on private jets. In South America, its copper mining has poisoned indigenous lands and rivers in Peru, devastating the health and livelihoods of the Quechua and K’ana peoples while denying compensation. The company’s dark history also includes funding state security forces and paramilitary groups in Colombia and the Philippines to intimidate and murder communities resisting its exploitation.
Funded: £174m
gaza genocide
CLIMATE CRISIS
Ithaca Energy, a UK-based oil and gas firm, faces scrutiny over its ties to Israel and the genocide in Palestine, as well as its role in the controversial Rosebank oil field—the UK’s largest undeveloped fossil fuel project.
A majority stake in Ithaca is owned by the infamous Delek group, a conglomerate known for its close ties to the Israeli military. In 2023, Ithaca Energy channeled approximately $355 million out of its $400 million planned dividends to Delek Group – funds that may support Israel’s military atrocities. Delek has been blacklisted by the UN for operating in illegal West Bank settlements and supplying fuel to the Israeli military under a contract renewed in 2024 despite global outcry over Gaza. As IDF vehicles refuel at Delek stations en route to further violence, Ithaca’s North Sea oil profits help sustain this deadly cycle.
Ithaca’s environmental record is equally damning. It holds stakes in Rosebank # and the Cambo oil field, both fiercely opposed by climate activists for exacerbating ecological destruction. Grassroots resistance has scored key victories. In December 2024, a court halted Rosebank’s development over inadequate emissions assessments, dealing a blow to Ithaca’s plans.
Funded: £194m
Climate Crisis
gaza genocide
ENI Energy, the Italian oil and gas supermajor, operates across 60+ countries, leaving a trail of neocolonial exploitation and environmental devastation, particularly in Africa. Its record includes the discovery and continued extraction from Egypt’s massive offshore gas field, alongside the egregious launch of Africa’s first tar sands project in the ecologically vital Congo Basin, threatening invaluable biodiversity and the livelihoods of thousands. The company’s staggering negligence is laid bare by its Nigerian subsidiary’s 52 oil spills between 2021 and 2023, which ravaged local rivers and crops. Worse, ENI not only provided misleading information about the damages but also brazenly refused compensation or acknowledgment for the suffering inflicted on affected communities.
ENI’s complicity extends to the unfolding genocide in Gaza. Just weeks after Israel’s assault on Gaza escalated in late 2023, ENI secured a licence to explore gas fields off Israel’s coast—territory widely recognised as Palestinian maritime waters. Revenues from these projects directly bolster Israel’s military, fuelling its campaign of destruction.
Weapons Companies bankrolling the Gaza Genocide and Cont. Weapons
Funded: £110M
gaza genocide
CONTROVERSIAL WEAPONS
The Italian arms giant Leonardo supplies the deadly naval gun systems mounted on Israel’s Sa’ar-class warships, the brutal enforcers of Gaza’s illegal naval blockade. These warships, including the heavily armed Sa’ar 6 corvettes, form the backbone of Israel’s naval oppression, cutting off food, fuel, and medical supplies to Gaza’s besieged population. In October 2023, Leonardo’s weaponry saw its first bloody deployment as Sa’ar 6 ships bombarded Gaza, directly enabling Israel’s indiscriminate assault on Palestinian civilians. By arming these warships, Leonardo isn’t just complicit in collective punishment—it’s a key enabler of what legal experts say constitutes war crimes. While posing as a “defence” contractor, the company profits from the machinery of occupation, turning Gaza’s coastline into a militarised kill zone where Palestinian fishermen are shot at and humanitarian aid is blocked.
Funded: £73M
controversial weapons
gaza genocide
BAE Systems is the United Kingdom’s largest arms manufacturer and ranks as the sixth largest globally by revenue. The company is a critical partner in the F-35 Lightning II program and is responsible for approximately 15% of the aircraft’s components. BAE also holds four active military export licences to Israel, issued since 2021.
One of its most controversial products is the M109 howitzer, capable of firing 155mm shells, including white phosphorus rounds and described by BAE as achieving the “optimal balance between lethality… and reliability.”
Human rights groups have presented evidence that these BAE-supplied howitzers were unleashed by Israeli forces in Gaza, firing white phosphorus shells into densely populated civilian areas. This constitutes a flagrant war crime under international law, unleashing unspeakable suffering.
Furthermore, a United Nations investigation revealed BAE equipment was deployed in a January 2024 bombing in Gaza that struck a building housing international doctors, including a British surgeon. This incident illustrates how UK-produced weapons are being used to target UK civilians.
Case study: M109 Howitzers Firing White Phosphorus in Gaza
Human rights groups, including Amnesty International, have presented evidence that BAE-supplied M109 howitzers were unleashed by Israeli forces in Gaza in October 2023. The howitzers fired white phosphorus shells into densely populated areas of Gaza. This constitutes a flagrant war crime under international law, given white phosphorus’s incendiary nature, which burns at extreme temperatures and causes horrific, life-altering injuries. The British manufacturer’s direct contribution to this arsenal links it to the crime of genocide and breaches of international humanitarian law.
Any time that white phosphorus is used in crowded civilian areas, it poses a high risk of excruciating burns and lifelong suffering.
Funded: £144m
migrant abuse
controversial weapons
Jacobs Solutions, previously known as “Jacobs Engineering”, is a U.S. based company that provides consulting, technical, scientific and project delivery services for the government and private sector. Jacobs Engineering completed its acquisition of another nuclear weapon component producer, CH2M Hill, in 2017. On 20 November 2023, Jacobs announced a definitive agreement to spin-off and combine its Critical Mission Solutions and Cyber & Intelligence government services businesses with Amentum, a private equity-owned U.S. government services company involved in the management and operation of the Lawrence Livermore National Laboratory and the Los Alamos National Laboratory. In the financial year ending 27 September 2022, Jacobs generated revenues of $14.9 billion.
38 construction workers from the Philippines filed a complaint against the U.S. companies Jacobs Solutions and CH2M Hill and their subsidiaries (collectively, “Defendants”) for allegedly managing construction projects that used trafficked and forced labor. The plaintiffs worked on stadiums built for the FIFA 2022 World Cup in Qatar, where they … allege they were trafficked and then forced to work…
Plaintiffs claim Defendants managed and oversaw a construction venture that subjected them to inhumane working and living conditions and abuse, including by misrepresenting the terms of their employment in Qatar, forcing Plaintiffs to work inhumane hours and forcing them to live in inhumane conditions, and/or underpaying them or denying them payment for their work. The Plaintiffs also allege Defendants confiscated their passports, trapping them in Qatar, and forcing them to continue to work in violation of the U.S. Trafficking Victims Protection Reauthorization Act.
Funded: £453M
gaza genocide
controversial weapons
Honeywell International, a global conglomerate, is deeply entrenched in the machinery of conflict, contributing critical components to Israel’s military operations, particularly implicated in the ongoing genocide in Gaza. Its precision-guided munitions have been identified in devastating strikes, including the airstrike on the U.N.-run al-Sardi school on 6th June 2024, which brutally claimed the lives of at least 40 Palestinians, including 14 children.
Beyond its immediate complicity in the Gaza genocide, Honeywell is a linchpin of the US nuclear weapons programme. As the sole manufacturer of critical navigation systems for weapons like the Minuteman III nuclear missile, and a key subcontractor on the Sentinel programme, the company underpins the modernisation of these apocalyptic arsenals. Its subsidiary’s oversight of the Kansas City National Security Campus, responsible for 85% of non-nuclear components for US nuclear weapons, and its operation of the Nevada National Security Site, further highlight its profound connection to instruments of mass destruction.
Funded: £315m
migrant abuse
gaza genocide
controversial weapons
Airbus SE, headquartered in the Netherlands, is a multinational military and aerospace company that specializes in manufacturing commercial and military aircraft. Between 2008 and July 2024, the U.S. government awarded Airbus over $7.5 billion of contracts, the vast majority of which were held by the Departments of Defense (DHS) and Homeland Security (DHS).
U.S. immigration authority Customs and Border Protection (CBP) uses Airbus helicopters as part of its Air and Marine Operations (AMO) fleet. In 2023 alone, AMO’s enforcement resulted in 1,004 arrests and 89,909 apprehensions of immigrants. According to Airbus, it has provided aircraft for U.S. border enforcement operations since the 1980s.
CBP uses the Airbus AS350 Light Enforcement Helicopter (LEH) for “aerial patrol and surveillance of stationary or moving targets,” particularly in metropolitan areas. These helicopters are equipped with electro-optical (day) and infrared (night) sensors. Airbus has provided CBP with more than 100 helicopters from this series over the years, but started providing CBP with new and improved H125 helicopters, “uniquely configured” for the agency, in 2020. Airbus has described the new model as “one of the most advanced, high-tech law enforcement helicopters ever developed.”
CBP has also used the smaller Airbus EC120 helicopter as a “highly-effective aerial surveillance platform in the border desert areas where terrain can be difficult to traverse on foot.” CBP has frequently used this aircraft to assist ground agents in detecting traces left behind by people crossing the desert.
Airbus has collaborated extensively with Israeli Aerospace Industries (IAI) and between 2008 and 2021 applied for a UK export license to sell weapons to Israel. IAI and Airbus also have historically collaborated in joint commercial ventures. In 2011, Airbus Military and IAI came together to sign a Memorandum of Understanding to develop and market the C295 platform (a combat aircraft with surveillance systems). In 2018, Airbus signed a $600million deal with IAI to lease Heron TP drones to Germany’s Defence Ministry. These are unmanned drones which have been used in Gaza since October 2023, and have been reportedly deployed by German forces in Afghanistan for ‘a number of years’.
Airbus Defence and Space Airborne Solutions, a 100% subsidiary of Airbus, also partners with IAI to operate maritime aerial surveillance services for the European Border Agency. These drones, previously tested in operations conducted by the Israeli armed forces, are used to intercept migrant vessels crossing the Mediterranean. According to Statewatch, the choice of these drones was determined by their “performance… in the maintenance of public order by the Israeli Defence Forces and police forces”, implicating them in the ongoing enforcement of Israel’s system of colonial occupation and apartheid. Airbus has thus not only profited from – and helped Israel to profit from – the sale of weapons tested on Palestinians, but the company has also enabled Israel to establish itself as a leading provider of defence and commercial technologies on the global stage.
Funded: £256m
gaza genocide
controversial weapons
Rolls-Royce, the UK’s second-largest arms manufacturer, is deeply entwined with both Britain’s nuclear weapons programme and Israel’s machinery of war in Gaza. Through its German subsidiary MTU, Rolls-Royce supplies the engines powering Israel’s Merkava 4 and 5 tanks, Namer armoured personnel carriers, and Eitan armoured fighting vehicles—hardware extensively deployed during the 2023 ground invasion of Gaza, including in attacks on medical facilities such as Shifa Hospital. These engines are the most significant Merkava component made outside Israel, forming the backbone of armoured assaults that have killed thousands and devastated civilian infrastructure. Rolls-Royce also provides propulsion systems for 80% of the Israeli Navy’s patrol boats, which enforce the illegal and deadly blockade of Gaza.
On the nuclear front, Rolls-Royce holds contracts to supply reactor cores for the UK’s Trident missile submarines, directly supporting Britain’s weapons of mass destruction.
Companies bankrolling THE OCCUPATION OF PALESTINE
Funded: £991M
palestine occupation
Volvo Group is a Swedish multinational company which manufactures trucks, buses, construction equipment, and marine and industrial engines. Since 2020, Al-Haq reported several instances of Volvo bulldozers being used during unlawful demolitions of Palestinian structures including residential buildings and water structures. In June 2022, Volvo machinery was reportedly used in the raiding and demolishing of residential tents and animal shacks in Al-Fakheet and Al-Markez villages, after the Israeli Supreme Court had ruled in favour of the expulsion of eight villages in the region of Masafer Yatta in May 2022. Volvo heavy-duty machines were also used in 2023 in home demolitions in Palestinian neighbourhoods in the occupied West Bank and East Jerusalem.
Volvo’s importer and distributor in Israel is Mayer Cars and Trucks Ltd, including for bus chassis. Volvo Bus Corporation (26.5%) and Mayer jointly own Merkavim. Merkavim uses Volvo chassis for its armoured Mars buses that are used in services to Israeli settlements. Mayer and Merkavim are included in the updated UN Database (June 2023).
Funded: £212M
palestine occupation
Volvo Group is a Swedish multinational company which manufactures trucks, buses, construction equipment, and marine and industrial engines. Since 2020, Al-Haq reported several instances of Volvo bulldozers being used during unlawful demolitions of Palestinian structures including residential buildings and water structures. In June 2022, Volvo machinery was reportedly used in the raiding and demolishing of residential tents and animal shacks in Al-Fakheet and Al-Markez villages, after the Israeli Supreme Court had ruled in favour of the expulsion of eight villages in the region of Masafer Yatta in May 2022. Volvo heavy-duty machines were also used in 2023 in home demolitions in Palestinian neighbourhoods in the occupied West Bank and East Jerusalem.
Volvo’s importer and distributor in Israel is Mayer Cars and Trucks Ltd, including for bus chassis. Volvo Bus Corporation (26.5%) and Mayer jointly own Merkavim. Merkavim uses Volvo chassis for its armoured Mars buses that are used in services to Israeli settlements. Mayer and Merkavim are included in the updated UN Database (June 2023).