This briefing examines key aspects of Barclays’ 2019 Energy and Climate Change Statement and the bank’s continued support for fossil fuel expansion incompatible with the Paris Goals.
We suggest questions institutional investors may wish to ask Barclays. We also suggest that investors should encourage Barclays to take steps to align its business strategy with the Paris Goals.
Recent research has shown that 33 major global banks including Barclays poured $1.9 trillion into fossil fuels since the Paris Agreement was adopted.
Furthermore, over the past three years those same banks provided financial services worth $600 billion to the 100 companies with the largest investments forecast in new fossil fuel extraction, infrastructure, and power generation. That research identified Barclays as the ‘worst in Europe’ in financing fossil fuels.
About our investor briefings
Meeting the objectives of the Paris agreement means that fossil fuel companies will come under increasing pressure from investors concerned about the risks of failing to make the transition to a zero carbon energy future.
Greenpeace has worked to challenge the industry’s business model for over a decade. Our work allows investors to question many of the underlying assumptions of oil industry scenarios and forecasts.
We also examine and interrogate macroeconomic risks as well as technical, legal and regulatory challenges in systemically significant oil projects.
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