Barclays H1 2023 ESG Investor Presentation
Our strategy and ESG progress
Climate and sustainability
2 Restrictive policies - thermal coal mining
Barclays' thermal coal mining policy at a glance
•
•
Current policies
Social
Governance
2030
2035
No project finance for
greenfield development or
material expansion 1 of thermal
coal mines anywhere in the
world
No General Corporate
Purposes (GCP) financing that
is specified as being for new or
material expansion 1 of thermal
coal mining
•
•
No financing2 to new clients³
engaged in thermal coal mining
No financing2 to existing clients
that generate >30% of
revenues from thermal coal
mining
No GCP financing to clients with
entities engaged in opening
new thermal coal mines or
material expansion¹ of existing
thermal coal mines5
•
Phase out financing² to all
clients engaged in thermal coal
mining in the EU and OECD
countries
No financing2 to clients that
generate >10% of revenues
from thermal coal mining in the
rest of the world
Phase out financing² to all
clients engaged in thermal coal
mining
Note: Full details of our restrictive policies (including exceptions) are set out in detail in our Climate Change Statement: Our Approach to Sensitive Sectors, and include clear restrictions on thermal coal mining and coal-fired power generation, Arctic exploration and production, oil sands and
hydraulic fracturing (fracking). Further restrictions are set out in our Position Statements in relation to Forestry and Agricultural Commodities, World Heritage Sites and Ramsar Wetlands, and Climate Change | Increase in annual tonnage of thermal coal extracted from existing thermal coal
mines by more than 20% measured from a baseline of maximum p.a. tonnage for preceding three years. Expansion in such cases relates to absolute global increases rather than increases for an entity or group as a result of mergers or acquisitions | 2 Refers to all lending, underwriting, issuance of
debt and equity, trade and working capital finance | 3 Means no member of the group was a client of Barclays as at 1 April 2022 | 4A client/entity is "engaged in" if it generates >5% of its revenue from the activity | 5 Unless an undertaking is received from the borrower or we are otherwise satisfied
that the proceeds of the GCP financing will not be made available to entities engaged in opening new thermal coal mines or material expansion of existing thermal coal mines |
13 | Barclays H1 2023 ESG Investor Presentation | 27 July 2023
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