Barclays has set a net-zero target to be emission free by 2050 and is taking steps to reduce its carbon emissions. Barclays is a founding member of the BEI, a group of global banks working on actionable pathways towards a sustainable economy, and it engages extensively in cross-industry initiatives related to climate and sustainability. In 2022, the company reported Scope 1 and Scope 2 emissions (market based) at 21.9 thousand tCO2e and location based at 123.5 thousand tones CO₂ equivalent. The company has also partnered with Ceres to integrate a US perspective on Just Transition and contributed to a publication on net-zero target setting for farm-based agricultural emissions. Barclay's latest filings mentioned the keywords 'Emissions' and 'Carbon' most number of times in relation to 'Net Zero'.

Barclays' total financing towards carbon-related sectors remained flat YoY at 26% in 2022, and it has set financing restrictions to address nature and biodiversity-related risks. The company has also reported its climate risk exposures in line with TCFD recommendations and is actively evolving its approach to address nature and biodiversity considerations in its financing and operations. Barclays has piloted the Taskforce on Nature-related Financial Disclosures' draft framework and completed the second year of its three-year partnership with the Blue Marine Foundation to support ocean conservation efforts.

Barclays has used ESG and climate data, models, and methodologies that it considers appropriate and suitable for its purposes. It has taken steps to reduce its emissions and has invested in sustainable initiatives. The company has co-led the Sector Work Track within the Net-Zero Banking Alliance and co-chaired a Capital Markets Working Group of eight global banks that have developed a proposed methodology to account for the emissions associated with capital markets transactions.

In conclusion, Barclays is taking significant steps to reduce its carbon emissions and address climate and sustainability risks. The company has also set financing restrictions to address nature and biodiversity-related risks and has reported its climate risk exposures in line with TCFD recommendations.

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