Our ambition to be a net zero bank by 2050
We believe that Barclays should take a leading role in tackling climate change and help accelerate the transition to a low-carbon economy.
Our ambition is to become a net zero bank by 2050. And we’ve made a firm commitment to align our entire financing portfolio to the goals of the Paris Agreement. That means our own operations, and the financing we do for our clients, in every sector, will support the goal of limiting global warming.
We’ve already started work on creating the new, open-source tools required to map the greenhouse gas emissions of our portfolio - building on and extending the work already done in the scientific community and across the financial services industry.
We’re also setting transparent targets and we’ll report our progress regularly from 2021.
As well as committing to play our part in limiting global warming, we’re significantly increasing our existing targets for green financing, investing in green innovation, and partnering with the Blue Marine Foundation to help protect and sustain the largest carbon sink on Earth: the ocean.
Our new ambition to be net zero, and our commitment to aligning our financing portfolio across all sectors to the goals of the Paris Agreement, will mean we can play much more of a leading role in meeting the climate challenge and in financing energy transition
Our commitment to help limit global warming
We will align all of our financing activities to the goals of the Paris Agreement, through a clear strategy, with transparent targets and regular reporting of our progress.
Supporting green financing and innovation
We are accelerating the transition to a low-carbon economy through our target of providing £100bn of green financing by 2030, and by investing £175m over five years in innovative green companies.
Working together to protect the ocean
Through a three-year, five million pound partnership, Barclays will work with the Blue Marine Foundation to advance programmes that support conservation of the world’s ocean.
Our 2019 environmental social and governance report
As well as detailed disclosures under standards such as TCFD and SASB, and more detail on our environmental policies, we also report on how we’re supporting our communities and running our business responsibly.