Our climate dashboard
Our climate dashboard shows our ‘carbon limit’ by sector, and tracks our financed emissions against that benchmark. It also shows our operational emissions performance, including the residual emissions we are offsetting.
The dashboard will be updated in line with our annual reporting in the first quarter of each year, alongside the information we publish under the guidelines of the Taskforce on Climate-Related Financial Disclosures.
We’ve used BlueTrack™ to assess the financed emissions of the first two sectors covered by our approach: Energy and Power.
The Energy sector is responsible for extracting fossil fuels from the earth – mainly coal, oil and gas. The Power sector is responsible for generating the world’s supply of electricity. These two sectors are responsible for up to three quarters of all emissions globally.
Our near-term and medium targets for the Energy and Power sectors are1:
- Energy portfolio absolute emissions will reduce by 15% by 2025, and continue to track the IEA SDS benchmark reduction on an ongoing basis
- Power portfolio emissions intensity will reduce by 30% by 2025, on the way to alignment with the IEA SDS benchmark by 2035
Our own operations
Our clients' activity
Our green financing commitment
Our methodology and the data on which it draws are continuously improving; any changes to metrics as a result of methodology changes or new information that lead to materially different outcomes may result in metrics being restated. As company disclosures continue to improve, we are hopeful that this data will become sufficiently robust to play a much greater role in the calculation of BlueTrack™ metrics.
1 Targets are from a baseline of 12 months to 31 December 2020: Power emissions intensity – 321 KgCO2/MWh; Energy absolute emissions – 75 MtCO2.
Our methodology and the data on which it draws are continuously improving; any changes to metrics as a result of methodology changes or new information that lead to materially different outcomes may result in metrics being restated.
Barclays was a founding member of the Financial Stability Board’s Taskforce on Climate-related Financial Disclosures. We have significantly increased our disclosures across each of the four overall TCFD categories as well as the 11 underlying recommendations, including specific guidance for banks.
Statements and policy positions
Barclays has a series of statements and policy positions on ESG matters, including climate change, human rights, and governance related statements on our code of conduct, data protection, financial crime, resilience and tax.
Green Finance Framework
We commissioned Sustainalytics, a global provider of ESG and corporate governance research, ratings and analytics, to help develop our Impact Eligibility Framework. It provides a process for Barclays to identify positive environmental and social transactions across the organisation, and to track their associated financing volumes.