Barclays praises Wimbledon amid backlash for providing services to climate polluters
Barclays has faced widespread protests from climate campaigners and anti-war activists. They argue that Barclays is using sponsorship of major sports events and music festivals to “cleanse” its image and obscure its role in funding climate polluters and defense companies, especially those alleged to supply equipment to Israel amid its ongoing conflict in Gaza.
CS Venkatakrishnan, Barclays chief executive, said, “While there have been, of course, some sponsorships that have been vocal and not wanting to work with Barclays … there have been other sponsorships, and Wimbledon is prominent among them, who continue to work well with us, be very supportive, and continue to intensify … cooperation.”
“I’m continually grateful for those institutions that continue to be supportive to us and rightly resisting pressures, which I think are ultimately misguided,” Venkatakrishnan added.
Barclays stated that although it does not invest directly in defense companies, it is committed to offering financial services to the sector, which it views as essential for maintaining national and allied security.
The bank’s comments came alongside its announcement of a £1.2 billion payout to shareholders, which includes a £750 million share buy-back.
Also read: Institutional investors with assets worth $1.2 trillion urge Barclays to halt financing fracking
This occurred despite a modest 1% drop in second-quarter profits to £1.9 billion.
Barclays exceeded profit estimates of £1.6 billion thanks to strong performance in its investment banking and wealth management divisions.
Quote of the Day
No quotes found.
Newsletter
Related News