Barclays to Lift 2030 Sustainable Finance Target to $1 Trillion
(14 December 2022 – United Kingdom) Barclays has radically increased its sustainable and transition finance target to US$1 trillion by 2030 as part of efforts to accelerate the shift to a low carbon economy.
Financing of climate and environmental solutions including green mortgages, energy efficient technology and renewable energy, as well as financing for broader social and sustainability work, including areas such as affordable housing, will all count towards the target.
The new target represents a marked increase from the bank’s previous aim of US$150 billion by 2025.
“We are helping to drive the transition to where it is really needed and finance to decarbonize high emitting sectors and scale up the next wave of climate technologies that will help industries decarbonize and create green jobs. are going to be required” said Barclays Global Head of Sustainable Finance, Daniel Hanna.
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