Day 8 - Put pressure on Barclays to stop funding gas and oil

It’s no secret that we have to make big changes to reach global net zero goals and avoid the point of no return for our planet. But whilst most people are adapting the way they live to reduce their impact on the environment, the banks that we all use could be investing our money in activities that are devastating our world. 

A new Which? Money investigation that set out to find the greenest banks in Britain has ranked Barclays the worst performing UK bank when it comes to environmental issues.

This means that if you (or anyone you know) bank with Barclays - your money may be funding industries like new oil and gas that are causing climate chaos. Barclays has the most customers of any bank in the UK. But they’re also the largest funder of fossil fuels in Europe – pumping over $16.5 billion into the industry in 2022, including $2.5 billion into new oil and gas.  

They are even a major funder of energy company Equinor, who own the new Rosebank oil field project in the North Sea recently approved by the British Government. The International Energy Agency is clear that staying within 1.5C means no new gas and oil fields, anywhere.  

Earlier this year ShareAction attended Barclays’ AGM to address their Board of Directors face-to-face, asking them to stop funding new oil and gas. Barclays did not commit to a plan to restrict financing for these climate-wrecking fossil fuel industries. You can see how it went down here. 

Progress has been too slow and our planet doesn’t have time to wait. For Day 8, will you help put the pressure on Barclays to fund a greener future?