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Created before Nov 2016
Last update: 2016-09-27 12:21:35
Alex Scrivener, World Development Movement
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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.
1 Churchill Place
E14 5HP London
Jes Staley |
Group Chief Executive Officer
Environmental, Social Governance Supplement 2016|
Annual Report 2016
listed on London Stock Exchange & NYSE Euronext
Publicly listed holding company
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Voluntary initiativesBarclays has committed itself to the following voluntary standards:
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 reports annually on their implementation of the Equator Principles. The report can be found here.
Barclays further reports on its portfolio of projects financed under the Equator Principles on the Equator Principles website, here.
Barclays is involved in financing the following Equator Principles projects that BankTrack considers controversial.
True leader Front runner Follower Laggard
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.
Implementation and reporting
Barclays is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
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.
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.