Barclays climate resolution is all targets and no substance

Instead of backing a resolution that would have ended its huge contribution to the climate emergency, the Barclays AGM has passed one with distant targets and no substance

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In response to the decision taken by Barclays, at its AGM today, to oppose a resolution to genuinely commit to a safe climate, aligned with the goals of the historic Paris climate agreement, Greenpeace UK’s head of climate finance, Rosie Rogers, said:

“Rather than backing a resolution that set out a clear pathway for Barclays to finally end its vast contribution to the climate emergency, the bank chose to hoodwink both shareholders and the public with an alternative option – one with distant targets and no substance. But 24% saw through that move, sending a powerful message that Barclays must step up to meet the demands of the climate and its shareholders.

“There is nothing wrong with a net-zero target but, without details of how it will get there, Barclays’ ambition is all show and no go. If the bank was serious about taking meaningful action on climate change then it would immediately ditch support for fossil fuel expansion and phase out its lending to these destructive industries altogether.”

ENDS

Contact:

Greenpeace UK Press Office – press.uk@greenpeace.org or 07500 866 860

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