We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
During 2021, Barclays was a member of and contributed to the IIF Sustainable Finance Working Group (SFWG). The SFWG brings together key stakeholders to identify and promote capital markets solutions that support the development and growth of sustainable finance. The SFWG includes representatives from global banks, major institutional investors, credit ratings agencies, consultancies and other interested parties, as well as public sector collaborators such as the UN Environment Programme (UNEP), World Bank/IFC and many more.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, C. S. Venkatakrishnan is on the board of the IIF
C. S. Venkatakrishnan (CEO)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Jes Staley (CEO, Barclays) is on the board of the IIF
Jes Staley (CEO)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
During 2021, Barclays was a member of and contributed to the IIF Sustainable Finance Working Group (SFWG). The SFWG brings together key stakeholders to identify and promote capital markets solutions that support the development and growth of sustainable finance. The SFWG includes representatives from global banks, major institutional investors, credit ratings agencies, consultancies and other interested parties, as well as public sector collaborators such as the UN Environment Programme (UNEP), World Bank/IFC and many more.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, C. S. Venkatakrishnan is on the board of the IIF
C. S. Venkatakrishnan (CEO)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Jes Staley (CEO, Barclays) is on the board of the IIF
Jes Staley (CEO)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Louis Molinari is on the MFA board
Louis Molinari (Global Head, Capital Introductions)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Barclays is a strategic partner of the MFA. Unclear whether Barclays still holds a board membership, as of May 2021, MFA does not appear to disclose its board.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Louis V. Molinari is on the MFA board
Louis V. Molinari (Managing Director, Head of Capital Solutions, Barclays)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Louis Molinari is on the MFA board
Louis Molinari (Global Head, Capital Introductions)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Barclays is a strategic partner of the MFA. Unclear whether Barclays still holds a board membership, as of May 2021, MFA does not appear to disclose its board.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Louis V. Molinari is on the MFA board
Louis V. Molinari (Managing Director, Head of Capital Solutions, Barclays)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Barclays is a member of SIFMA
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
[Trade association] Other, please specify (Securities Industry and Financial Markets Association (SIFMA)) [Is your organization’s position on climate change consistent with theirs?] Mixed [Has your organization influenced, or is your organization attempting to influence their position?] We are attempting to influence them to change their position [State the trade association’s position on climate change, explain where your organization’s position differs, and how you are attempting to influence their position (if applicable)] The Securities Industry and Financial Markets Association (SIFMA) is a trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. In 2021, the SIFMA responded to the U.S. Securities and Exchange Commission's (SEC) request for public input on climate change disclosures stating that the SEC and the United States should take an active leadership role in the ongoing international work to facilitate global consistency and pragmatism in climate-related disclosure rules and guidelines.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Brendan T. Reilly is on the board of SIFMA.
Brendan T. Reilly (Head of US Government Relations & Regulatory Policy, Barclays)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Barclays is a member of SIFMA
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
[Trade association] Other, please specify (Securities Industry and Financial Markets Association (SIFMA)) [Is your organization’s position on climate change consistent with theirs?] Mixed [Has your organization influenced, or is your organization attempting to influence their position?] We are attempting to influence them to change their position [State the trade association’s position on climate change, explain where your organization’s position differs, and how you are attempting to influence their position (if applicable)] The Securities Industry and Financial Markets Association (SIFMA) is a trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. In 2021, the SIFMA responded to the U.S. Securities and Exchange Commission's (SEC) request for public input on climate change disclosures stating that the SEC and the United States should take an active leadership role in the ongoing international work to facilitate global consistency and pragmatism in climate-related disclosure rules and guidelines.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Brendan T. Reilly is on the board of SIFMA.
Brendan T. Reilly (Head of US Government Relations & Regulatory Policy, Barclays)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
During 2021, Barclays co-chaired the UK Finance Sustainability Finance Committee.
InfluenceMap Data Point on Corporate - Influencer Relationship
As of December 2022, Matt Hammerstein is on the board of UK Finance
Matt Hammerstein (CEO Barclays Bank UK)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
During 2021, Barclays co-chaired the UK Finance Sustainability Finance Committee.
InfluenceMap Data Point on Corporate - Influencer Relationship
As of December 2022, Matt Hammerstein is on the board of UK Finance
Matt Hammerstein (CEO Barclays Bank UK)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
[Trade association] Other, please specify (Banking Policy Institute (BPI)) [Is your organization’s position on climate change consistent with theirs?] Mixed [Has your organization influenced, or is your organization attempting to influence their position?] We are attempting to influence them to change their position [State the trade association’s position on climate change, explain where your organization’s position differs, and how you are attempting to influence their position (if applicable)] The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing leading banks in the United States. In 2021, BPI responded to the U.S. Securities and Exchange Commission's (SEC) request for public input on climate change disclosures, stating that BPI supports consistent and meaningful climate disclosures.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Barclays is a member of BPI
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Jes Staley is on the board of BPI. As of January 2022, Jes Staley does no longer appear to be on the board of BPI.
Jes Staley (Group Chief Executive, Barclays)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
[Trade association] Other, please specify (Banking Policy Institute (BPI)) [Is your organization’s position on climate change consistent with theirs?] Mixed [Has your organization influenced, or is your organization attempting to influence their position?] We are attempting to influence them to change their position [State the trade association’s position on climate change, explain where your organization’s position differs, and how you are attempting to influence their position (if applicable)] The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing leading banks in the United States. In 2021, BPI responded to the U.S. Securities and Exchange Commission's (SEC) request for public input on climate change disclosures, stating that BPI supports consistent and meaningful climate disclosures.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Barclays is a member of BPI
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Jes Staley is on the board of BPI. As of January 2022, Jes Staley does no longer appear to be on the board of BPI.
Jes Staley (Group Chief Executive, Barclays)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Barclays Wealth and Investment Management is a member of the Investment Association
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Barclays Wealth and Investment Management is a member of the Investment Association
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
As of December 2022, Barclays Wealth and Investment Management is a member of the Investment Association which is a national association member of the EFAMA
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
As of December 2022, Barclays Wealth and Investment Management is a member of the Investment Association which is a national association member of the EFAMA
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Barclays is a member of UK Finance which is a national association member of EBF
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of December 2022, Barclays is a member of UK Finance which is a national association member of EBF
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Open PDF file of Data Source
Sustainable Finance Lobbying Overview: Barclays appears to have had mixed engagement on sustainable finance policy.
Top-line Messaging on Sustainable Finance Policy: Barclays has stated support for the Paris Agreement to keep global temperature rise to 1.5C. It also supported the role for finance in meeting the UK’s net-zero by 2050 target and a socially-just transition. However, in a letter submitted to the Municipal Advisory Council of Texas in 2021, Barclays showed continued support for investing in fossil fuels. Barclays has also supported sustainable finance policy in the UK, but has emphasized that financial sector alignment with net-zero can only happen as part of a whole economy transition.
Position on Taxonomies: In feedback to the European Commission's consultation on the Renewed Sustainable Finance Strategy in 2020, Barclays stated support for the expansion of the EU taxonomy to cover environmentally harmful activities. . Barclays has offered broad support for the UK Green Taxonomy in response to the FCA in 2021 and in its 2022 CDP response. However, in its 2021 CDP response, Barclays had argued that the UK taxonomy should be more principles based and more inclusive of transition activities, and in response to the UK’s Update to the Green Finance Strategy in 2022, it also highlighted a number of considerations with respect to the EU Taxonomy and again suggested that transition activities should be included in the taxonomy.
Position on Regulated Corporate ESG Disclosure: In response to the Commission in 2020, Barclays suggested mandatory implementation of TCFD disclosures. In its 2022 CDP response, it further supported the Corporate Sustainability Reporting Directive (CSDR), but cautioned against including subsidiaries and highlighted challenges with the lack of data. In responses to UK’s Financial Conduct Authority and Department for Business, Energy and Industrial Strategy during 2020-2021, and reinforced in its 2022 CDP response, Barclays supported regulatory implementation of TCFD disclosures on a ‘comply or explain’ basis by listed issuers, as well as by publicly quoted companies, large private companies and LLPs. In response to the Update to the Green Finance Strategy in 2022, Barclays broadly supported the UK Transition Plan Taskforce (UK TPT) proposed disclosures, suggesting that it should include both private and listed companies and highlighted the importance of Scope 3 for investors. In direct response to the UK TPT’s call for evidence, it further supported a prescriptive sector-neutral framework, with a prioritization of highest emitting sectors and critical infrastructure, however, it suggested that biodiversity and nature considerations are phased-in. Barclays has also offered general support for the ISSB’s Climate and Sustainability Disclosure Standards in 2022.
Position on ESG Standards, Labels & Benchmarks: In response to the Commission in 2020, Barclays also supported verification regulation of EU Green Bonds and an ESG label for investment funds, however, it does not appear to support a legislative approach to the EU Ecolabel. In its 2022 CDP response, Barclays further appeared to support a voluntary EU GBS suggesting it should be aligned with the EU Taxonomy and granted until the maturity of the bond. In the UK, Barclays supported a market-based approach over a legislative one in relation to a UK green bond standard in response to the FCA in 2021. In its response on the Update to Green Finance Strategy in 2022, it supported the labeling system under the UK’s Sustainability Disclosure Requirements (SDR), but suggested a less prescriptive approach.
Lobbying Transparency: Barclays has a dedicated Public Policy Engagement section on its website featuring clear disclosure detailing its advocacy efforts, although not specifically regarding sustainable finance issues. It has also listed its trade association memberships in the same website, and has detailed actions taken when positions of third party organizations do not align with the company's climate change policy in its 2021 Climate-related Financial Disclosures report.