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More black marks for coal-hungry UK banks in latest Report Card
Barclays and HSBC increased finance for coal power in 2016, despite claims to support Paris Agreement
BarclaysUnited Kingdom
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BankTrack
Created before Nov 2016
Last update: 2016-09-27 12:21:35
Alex Scrivener, World Development Movement
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About
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. Barclays operates in more than 50 countries and employs approximately 155,000 people, serving 48 million customers and clients worldwide.
| Headquarters |
1 Churchill Place
E14 5HP London
United Kingdom
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| Supervisor | |
| CEO/chair |
Jes Staley Group Chief Executive Officer |
| Annual reports |
Environmental, Social Governance Supplement 2016 Annual Report 2016 |
| Website | http://www.barclays.com |
| Ownership |
listed on London Stock Exchange & NYSE Euronext
Publicly listed holding company |
Related Dodgy Deals
Barclays has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.
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Projects
Active
Bauxite mine Niyamgiri Hills India
Active
Cerrejón coal mine Colombia
Active
Dominion Cove Point LNG United States
Active
Great Barrier Reef Coal & Gas Exports Australia
Active
Kaltim Prima Coal mine Indonesia
Active
Kusile coal power plant South Africa
Active
Mountain Valley Pipeline United States
Active
Offshore Detention Centres Australia
Active
Shwe gas and pipelines projects Myanmar
Active
Trans Mountain Pipeline Expansion project (TMEP) Canada
There are no projects active for Barclays now.
On record
Canadian tar sands Canada
On record
Dynegy coal power plants United States
On record
Grasberg gold and copper mine Indonesia
On record
Mining in Goa/ Sesa Goa India
On record
Mountain top removal coal mining United States
On record
Sakhalin II oil and gas project Russian Federation
On record
Toka Tindung gold mine Indonesia
Companies
Active
Arch Coal United States
Active
BHP Billiton Australia
Active
Bumi Resources Indonesia
Active
Drummond United States
Active
IOI Corporation Malaysia
Active
Jindal Steel & Power India
Active
National Thermal Power Corporation (NTPC) India
Active
SUEK Russian Federation
Active
TransCanada Corporation Canada
There are no companies active for Barclays now.
On record
Alpha Natural Resources United States
On record
Anglo American United Kingdom
On record
Areva France
On record
DTEK Ukraine
On record
EDF France
On record
Enel Italy
On record
ENGIE France
On record
ESKOM South Africa
On record
Glencore Switzerland
On record
Lockheed Martin United States
On record
Rio Tinto Australia
On record
Royal Dutch Shell Netherlands
On record
RWE Germany
On record
Textron United States
On record
Vale Brazil
On record
Vattenfall Sweden
On record
Vedanta Resources United Kingdom
On record
Veolia Environment France
On record
Wilmar Group Singapore
Dodgy Deals map
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Policies
Voluntary initiatives
Barclays has committed itself to the following voluntary standards:Investment policies
An overview of Barclays' policy positions can be found here. Sectoral guidance notes are available here.
Issues
Barclays and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. Barclays adopted the Equator Principles in 2003.
Reporting on the Equator Principles
Barclays must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
- Barclays is in compliance with its reporting obligations. The 2015 report can be found here.
Dodgy Deals
Barclays is involved in financing the following Equator Principles projects that BankTrack considers controversial.
There are no projects active for Barclays now.
On record
Sakhalin II oil and gas project Russian Federation
On record
Toka Tindung gold mine Indonesia
Human rights
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True leader
Front runner
Follower
Laggard
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BankTrack has assessed Barclays on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. Barclays is assessed as a Front runner, with a total score of 6.5/12.
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Equator Principles
Implementation and reporting
Barclays is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
Good moves
Year:
2015
Barclays divests from Elbit Systems
In August 2015, campaign group Avaaz reported: "We have now been informed that since the end of last year Barclays has no beneficial ownership of any shares in Elbit Systems in any capacity, including as a hedge for client related business, nor does it hold any shares in nominee for clients. Barclays has also confirmed that it is not recommending Elbit Systems shares to clients via any trading platforms. We will keep Barclays' shareholdings in El Bit under review and stand ready to resume our campaign if needed."
Barclays, ING, PNC pull back from Mountaintop Removal
In 2015, US bank PNC, UK bank Barclays and Dutch bank ING all announced new commitments to cut finance for the controversial practice of mountaintop removal (MTR) coal mining. These banks join JPMorgan Chase, Wells Fargo, RBS, BNP Paribas, and UBS - banks that have already committed to cut ties with firms that specialize in mountaintop removal.
Barclays ends mountaintop removal coal mining
In March 2015 Barcalys released its new statement on mountaintop removal coal mining (MTR) reversing its earlier position on MTR. Barclays will not longer provide services to banks that engage with MTR practices unless they commit to transition away from MTR production within a reasonable timeframe. Barclays was the biggest financier of MTR in 2013 making this a significant step for campaigners against mountain removal practices.
2014
Barclays commits to stop promoting tax dodging through tax havens to companies investing in Africa
Following a campaign by Action Aid, supported by 53,000 people taking action, hundreds writing to MPs, and thousands of messages, Barclays committed in November 2014 to stop promoting tax dodging through tax havens to companies investing in Africa. Barclay's commitment means that they have made changes to their website and aren't promoting the low tax rates that are one of the key features of tax havens. Read more on Action Aid's website.
Thun Group of Banks agrees to consider remedy for victims of human rights abuse
In 2013 the seven-strong Thun Group of Banks' produced a discussion paper on banks' responsibilities under new UN human rights guidelines. BankTrack's response to the paper highlighted that the banks had failed to address their responsibility to provide access to remedy to victims of human rights abuses. After we pushed the point further at a conference with the banks in 2014, they agreed to "explore options for addressing ... access to remedy." We look forward to the outcome.