Barclays are Europe’s number one financiers of the climate crisis.
Image credit: © Chris J Ratcliffe
Barclays wants you to think it’s responsible and climate-friendly.
But research from the influential Banking On Climate Change report shows that from 2015 (the year the Paris Agreement was signed) to 2019, Barclays financed around £91.05 billion in fossil fuels.
Things didn’t improve in 2020 either. From January to September 2020, Barclays actually increased its fossil fuel funding compared to the same period in 2019, sinking £81.6 billion into fossil fuels.
Banks that truly care about climate change don’t fund fossil fuels. And they definitely don’t increase their funding for fossil fuels as the climate crisis worsens.
What can I do?
Send Barclays a message telling them to end their financial support for dirty energy.
Complete the form on this page to send a message to Barclays, calling upon the bank to withhold financing activities to companies and projects that would expand the scale of the fossil fuel industry.
Credit: Fund Our Future
A worldwide trail of destruction
Barclays is an eager funder of some of the most polluting companies in the world. From 2016 to 2019, it provided $1.13 billion for oil and gas drilling in the Arctic, one of the world’s most sensitive habitats.
In the same time period it provided $17.46 billion for fracking, a process so environmentally destructive it is banned in the UK-headquartered bank’s home country.
Barclays’ weak climate policies
Despite concerned citizens finally getting Barclays to adopt new climate change policies, there is still a long way to go.
Barclays says it will phase out it’s financial support for coal companies, but its policies are so weak that Barclays can still finance more than 200 coal companies. Together, these companies plan to build six times more coal plants than the installed coal plant capacity in Germany.
Barclays has committed to stop directly financing Arctic oil and gas drilling, but will continue to provide billions in support for the oil and gas industry, despite climate change being one of the biggest threats to the Arctic region.
It’s very simple – if Barclays truly cares about climate change, it must stop funding fossil fuels.
Protesters at the Barclays office in Rochdale. Image credit: Extinction Rebellion
Take action: Send Barclays a message telling them to end their financial support for dirty energy.
- Rainforest Action Network, Banking On Climate Change Report 2020: https://www.ran.org/bankingonclimatechange2020/
- Fund our Future, Barclays funding more in fossil fuels in 2020 than 2019: https://fundourfuture.uk/wp-content/uploads/2020/11/Autumn-Briefing-RAN-report-V5.pdf
- Reclaim Finance, Global Coal Exit List: https://reclaimfinance.org/site/en/2020/03/30/barclays-fossil-fuels-new-policy-climate-emergency/