Blog
BankTrack news
BankTrack blog
Partner news
Partner blog
Bank
BarclaysUnited Kingdom
Active
This profile is actively maintained
Last update: 2024-12-17 12:41:47
Barclays' head office in London. Photo: Matt Brown via Flickr (CC BY 2.0)
Active
This profile is actively maintained
Last update: 2024-12-17 12:41:47
Bank info
BankTrack campaigns
All
About
| Website | http://www.barclays.com |
| Headquarters |
1 Churchill Place E14 5HP London
London
United Kingdom
|
| CEO/chair |
C.S. Venkatakrishnan Group Chief Executive |
| Supervisor | |
| Ownership |
listed on London Stock Exchange & NYSE
Barclay's shareholder structure can be accessed here. |
Barclays, established in 1690, is a major global financial services provider, based in the United Kingdom, engaged in retail and commercial banking, investment banking, wealth management and investment management services. Barclays operates in more than 50 countries and employs approximately 120,000 people, serving 48 million customers and clients worldwide.
Sustainability
Commitments
Policies
Voluntary standards
Barclays' most important sustainability commitments can be found at the website sections listed below.
Barclays has committed itself to the following voluntary standards:
Dodgy Deals
Barclays is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Barclays's link to these deals.
Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Resources
Accountability
Grievances
Response
tracking
Barclays has a "Raise Concerns" process that allows anyone to file a complaint for breaches of the Bank's policies and procedures, including human rights related concerns. Complaints may be filed here or an email can be sent to raising.concerns@barclayscorp.com.
Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance).
Barclays is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.
This page evaluates Barclays's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
Banks profiting from the construction and hotel boom in Qatar (November 2022)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank responded publicly but did not speak to the substance of the issues raised nor did it acknowledge a link to the impacts; rather, it referenced its relevant human rights policies and procedures. Action
0
Out of 1
Rationale for score
The bank does not indicate whether it will engage its clients or investee companies on this issue, it only references its policies and procedures. Monitoring
0
Out of 1
Rationale for score
No information to indicate the bank is monitoring the actions of its clients, or actions it might itself have taken in response to the impacts raised. More info
Deforestation in the Amazon (July 2019)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank publicly responded providing details of its policies related to the sector, but it did not acknowledge its link to the impact or comment on or respond to the substance of the issues raised. Action
0
Out of 1
Rationale for score
The bank does not detail whether or how it has engaged with its clients in the sector nor detailed whether the bank itself took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information available on whether the bank monitored progress. More info
Don't Buy into Occupation report (November 2022)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank did not respond publicly. Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information to indicate the bank is monitoring the actions of its clients, or actions it might itself have taken in response to the impacts raised. More info
East African Crude Oil Pipeline (March 2021)
1
0.5
0.5
0
Response
0.5
Out of 1
Rationale for score
The bank responded publicly by confirming it would not finance the project in question. It did not comment on or respond to the substance of the issues raised. Action
0.5
Out of 1
Rationale for score
The bank took appropriate action by stating that it would not provide finance to the project; however, the bank remains exposed to TotalEnergies, the project developer, and it has not (yet) set out specific actions that it requires (or will require) the company to take to address the impacts raised. Monitoring
0
Out of 1
Rationale for score
No information available on whether the bank monitored measures taken by its client to address the impacts associated with the project. Occupied Palestinian Territories (September 2020)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank publicly responded, but stated that it is "not able to comment on individual client relationships or transactions for reasons of client confidentiality". Action
0
Out of 1
Rationale for score
The bank did not detail whether or how it engaged with its client, nor detailed whether the bank itself took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information available on whether the bank monitored the impacts or actions of its client. More info
Belarus: links to the state and state-owned companies (May 2021)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank did not respond. Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information available on there the bank monitored the impacts or the actions of its clients More info
Don't Buy into Occupation report (September 2021)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank did not respond. Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information available on whether the bank monitored progress.
Following the bank's response: The bank has not provided details on how it monitored the progress of specific companies or how the bank monitored the impact on rights-holders involved in raising the issue with the bank of its own action of updating the Agriculture sector policy. Therefore, the score remains unchanged.
More info
Finance for JBS and links to deforestation in the Brazilian Amazon (March 2023)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank did not respond. Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information available on whether the bank monitored progress. More info
Myanmar: Equity exposure to companies linked to the military regime (October 2021)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank did not respond. Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or investee companies or took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information available about whether the bank monitored progress. More info
Average
56%
0.11
0.06
0.06
0
Banks and Climate
Banks and Climate
The 2024 Banking on Climate Chaos report showed that Barclays provided US$ 235.189 Billion in financing to the fossil fuel industry between 2016 and 2023. In 2023 only, Barclays provided US$ 9.219 Billion for oil, gas and coal companies expanding fossil fuels. Find further details on Barclays fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.
Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Barclays' fossil fuel policy below.
False Solutions Tracker
BankLast update
Country
Wind Energy
Solar Energy
Geothermal Energy
Ocean Energy
Energy grids and storage
Hydropower
Hydrogen
Solid Biomass
Biofuels
CCUS
Nuclear Power
Details
Explanation
The purpose of the False Solutions Tracker is to give a clear overview of energy technologies that fall under banks' individual sustainable finance commitments. The tracker lists 11 energy technologies that are usually associated with the energy transition and the decarbonisation of the economy. These technologies are defined here and classified in three categories:
-
Real solutions: Technologies that deliver on a Just Transition towards Energy Democracy. BankTrack considers these technologies as real solutions only if and when they do deliver Energy Democracy.
-
Solutions under strict conditions: Energy technologies that could be real solutions if they deliver on a Just Transition towards Energy Democracy but that could also be false solutions. This is the case of hydrogen and hydropower. On one hand, fossil-free and green hydrogen could be a real solution under certain conditions. However, fossil-based hydrogen and nuclear hydrogen are always false solutions. On the other hand, hydropower lifespan extension could also be a real solution under strict conditions while hydropower expansion is a false solution.
-
False solutions: Energy technologies that are not aligned with a just transition towards Energy Democracy.
For each one of the 11 energy technologies, the tracker indicates if it is included in bank's individual sustainable finance commitments:
For Real solutions:
- : Yes, the bank includes its finance towards this energy technology in its sustainable finance reporting.
- : Yes, the bank includes its finance towards this energy technology in its sustainable finance reporting, but under certain conditions. In this case, those conditions are mentioned in the "relevant policy document" section for each bank.
- : No, the bank does not include its finance towards this energy technology in its sustainable finance reporting.
- : It is unclear whether the bank includes or not its finance towards this energy technology in its sustainable finance reporting.
For solutions under strict conditions and for false solutions:
- : Yes, the bank includes its finance towards this energy technology in its sustainable finance reporting.
- : Yes, the bank includes its finance towards this energy technology in its sustainable finance reporting, but under certain conditions. In this case, those conditions are mentioned in the "relevant policy document" section for each bank.
- : No, the bank does not include its finance towards this energy technology in its sustainable finance reporting.
- : It is unclear whether the bank includes or not its finance towards this energy technology in its sustainable finance reporting.
For more details see this page.
Banks and Human Rights
Banks and Human Rights
BankTrack assessed Barclays in its 2024 Global Human Rights Benchmark, where it achieved 7.5 points out of 15 and was ranked as a “moderate achiever”.
The bank scored 0.5 out of 3 points on the new “specific rights indicators”, which assess how banks address human rights defenders, Indigenous Peoples’ right to Free, Prior and Informed Consent and environmental rights in their policies and practices.
In addition, Barclays scored 0.11 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.
The table below shows BankTrack's assessment of how Barclays has implemented the UN Guiding Principles on Business and Human Rights. Please click on 'expand all details' and 'explanation' for further information on the methodology.
Our policy assessments are always a work in progress. We very much welcome any feedback, especially from banks included in the assessments. Please get in touch at humanrights@banktrack.org.
Global Human Rights Benchmark 2022
BankLast update
Country
Score
Ranking
Details
Barclays
GBR
8
Front runner
8
0
Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.
Global Human Rights Benchmark 2024
BankLast update
Country
Score
Ranking
Details
Barclays
GBR
7.5
Moderate achiever
7.5
0
Explanation
Laggard
Follower
Moderate achiever
Leader
0 - 3 points
3.5 - 7 points
7.5 - 10.5 points
11 - 15 points
For more details see this page.
Banks and Nature
Banks and Nature
Barclays’ policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 1.5 out of 10 and ranking it as a follower. Barclays achieved a score of 0.5 out of 10 specifically for its policies related to the beef sector and 6.1 out of 10 for its policies related to the palm oil sector. In addition, BankTrack and the Environmental Paper Network have assessed Barclays' policies related to the pulp and paper sector.
Between 2016 and 2022, Barclays provided USD 2,929 million in credit to companies operating in these forest-risk sectors and held investments amounting to USD 7 million as of 2022.
BankTrack has also assessed Barclays' policies related to the wood biomass sector and found that while it does mention biomass in its policy, it refers to it as a source of renewable energy and does not exclude wood biomass from finance. For more information, see the links below.
Forest & Finance Policy Assessment 2022: Overall scores
BankLast update
Country
Score
Ranking
Details
Explanation
A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Forest & Finance Policy Assessment 2022: Beef
BankLast update
Country
Score
Ranking
Details
Explanation
A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Forest & Finance Policy Assessment 2022: Palm Oil
BankLast update
Country
Score
Ranking
Details
Explanation
A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Tracking the NZBA
Tracking the Net Zero Banking Alliance
Barclays is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.
Banks and Russia
Banks and Russian Aggression in Ukraine
BankTrack is keeping track of the public response of Barclays to Russia's illegal invasion of Ukraine. Barclays has publicly condemned the war. Barclays is considered by Leave-Russia.org to be "scaling back" its operations in Russia. We consider its exposure to Russia as limited. For further details, see the table linked below.
Banks and Steel
Banks and Steel
As part of the Net Zero Banking Alliance (NZBA), Barclays is required to set interim targets for 2030 for high emission priority sectors. For Barclays, this includes its lending to the steel sector. You can see Barclays’s iron and steel decarbonisation targets, and its progress towards meeting them in our NZBA steel targets compliance tracker:
Partner organisation Reclaim Finance’s 2023 report on metallurgical coal financing showed that Barclays provided US$ 5.2 billion in loans and underwriting to developers of new metallurgical coal between 2016 and 2022. Find further details on Barclays’s metallurgical coal financing and and how it compares to other large banks globally in the report.
Reclaim Finance also tracks the metallurgical coal policies of financial institutions, including banks, in their Coal Policy Tool. BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Barclays metallurgical coal policy below.
According to a report by Reclaim Finance, between 2016 and June 2023, Barclays provided $3.2 billion in finance to the fossil-steel industry, making it the 46th largest financier worldwide. Find further details on Barclay's steel financing and how it compares to other large banks globally in the report.
Send feedback
on this profile