Climate Finance Policy Engagement Analysis
Climate Lobbying Overview: Barclays appears to be actively engaged on climate-related policy, showing top-line support for climate-related disclosures, transition planning, and energy efficiency policies. However, it has been more cautious toward stringent sustainable finance regulation in the UK, including around the UK Green Taxonomy and definitions and requirements around transition finance.
Top-line Messaging on Climate-Related Financial Policy: Barclays stated support for action to keep global temperature rise to 1.5C in its 2022 Climate Strategy. Barclays broadly supported the need for sustainable finance policy in the UK in its response to the government’s Updated Green Finance Strategy and comments to the UK Net Zero Review, both in 2022. More recently, in response to the UK Transition Finance Market Review (TFMR) in 2024, it emphasized that climate-related financial policy should not be prescriptive, and characterized the EU sustainable finance policy framework as "overly restrictive." In the same comments it opposed government action around transition finance, warning that stringent regulation could hinder capital flows.
Position on Regulated Corporate Climate Disclosure: In its 2023 CDP response, Barclays supported the EU Corporate Sustainability Reporting Directive (CSRD), but advocated for the introduction of ‘phase-in’ levers and expressed a preference for International Sustainability Reporting Standards (ISSB) standards as a global baseline. In its 2024 response to the TFMR, while Barclays supported the UK's adoption of ISSB standards, it advocated for additional flexibility in Scope 3 reporting. In response to the UK’s Update to its Green Finance Strategy in 2022, and its 2023 CDP response, Barclays supported the UK Transition Plan Taskforce’s (TPT) proposed disclosures, highlighting the importance of Scope 3 disclosures for investors. However, in its 2023 response to TPT implementation guidance Barclays suggested the framework should create safe harbors and modify engagement proposals.
Position on Taxonomies: In its 2024 consultation response to the UK TFMR, Barclays opposed mandatory reporting against a UK taxonomy and advocated for an industry-led, non-legislative approach. This was in contrast to broad support for a UK Green Taxonomy expressed in its 2022 CDP response. In response to the UK’s Update to the Green Finance Strategy in 2022, Barclays expressed concerns with the EU taxonomy's DNSH criteria and GAR reporting suggesting it was ‘overly-prescriptive’, and pressed for a more expansive approach to categorizing transition activities in the UK. Barclays also supported a “market-led” and flexible approach to transition finance in a 2024 consultation response.
Position on Climate Standards, Labels, Benchmarks: In its 2022 CDP response, Barclays appeared to support a voluntary EU Green Bond Standard suggesting it should be aligned with the EU Taxonomy and granted until the maturity of the bond. In its response on the Update to the UK Green Finance Strategy in 2022, it broadly supported the labeling system under the UK’s Sustainability Disclosure Requirements (SDR), but suggested a less prescriptive approach, while in its 2023 CDP response it called for a wider definition of ‘contributions’ to sustainability outcomes.
Position on Real Economy Climate Policy: Barclays supported the UK and EU Carbon Border Adjustment Mechanism (CBAM) in its 2023 Annual Report. It did not take a clear position on the UK CBAM and Emissions Trading System (ETS) in a 2024 consultation response, but expressed support for the inclusion of Greenhouse Gas Removals in the ETS. It also supported the development of energy efficiency policy for the housing stock in its 2023 Annual Report and supported reform to the Energy Performance Certificate (EPC) system in a 2022 response to the UK Update to the Green Finance Strategy.
Position on Energy, Industry, and Land Transition: Barclays expressed broad support for the energy transition in its 2024 Transition Finance Framework, and supported the production of sector-specific decarbonization policies by the UK Government in its 2023 Annual Report. However, in a 2024 consultation response, it supported a definition of ‘transition finance’ that could encourage investment in shifts from coal and heavy fuel oils to fossil gas without placing clear conditions on the need for CCS or methane emission abatement on the use of gas. It broadly supported renewable energy policies in the EU including the Renewable Energy Directive and ReFuelEU in a 2024 consultation response.
Industry Association Governance: Barclays has disclosed a partial list of its trade association memberships . However, it has excluded memberships to the Canadian Bankers Association, the Japan Investment Advisers Association and the Japanese Bankers Association. The company has not disclosed an account of its industry associations' positions and engagement activities.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q2 2025.