Barclays releases revised climate change statement & transition finance framework
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Barclays has released a revised Climate Change Statement as part of its ongoing climate strategy. It also introduced a Transition Finance Framework to help meet the $ 1 trillion Sustainable and Transition Finance target by 2030. The framework aims to facilitate the necessary transition finance to decarbonize high-emitting sectors.
In a release, Laura Barlow, Group Head of Sustainability said, “Addressing climate change is a critical and complex challenge. We continue to work with our energy clients as they decarbonise and support their efforts to transition in a manner that is just, orderly and addresses energy security. Today, we strengthen our commitment to the energy transition, with policies that will focus our capital and resources to the energy companies that play a key role in the transition.”
Key highlights from the updated statement
Daniel Hanna, Head of Sustainable Finance, Corporate and Investment Bank, adds, “Capital is critical to the energy transition, to decarbonize hard-to-abate sectors for the world to reach net zero emissions and create a resilient economy. As the number two ranked clean energy advisor globally by BloombergNEF, Barclays is strongly positioned with our capabilities and experience, global reach and role in the global economy to accelerate the investment needed for real-world decarbonisation, while supporting our energy clients’ transition.
Also read: What is Just Transition?
“Publishing our Transition Finance Framework reinforces our commitment to be transparent in how we are mobilising $1trillion of Sustainable and Transition Finance by the end of 2030 while Barclays continues to be a leading global clean energy adviser and financier, unlocking growth from the energy transition.”
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