Barclays’ net zero plan is absolutely meaningless

In reaction to the alternative climate resolution, proposed by Barclays to its shareholders, Greenpeace UK’s climate finance adviser, Charlie Kronick, said:

“This headline-baiting net zero proposal, which lacks any targets or detail, comes as Barclays issued an updated energy policy, demonstrating that it will continue to finance climate-wrecking tar sands and fracking. The whole thing stinks of hypocrisy. It’s nothing but an attempt to pull the wool over the eyes of shareholders who rightly want the bank to end its contribution to catastrophic climate breakdown.

“Barclays remains Europe’s largest financier of these planet-heating industries and refuses to face up to the reality of the climate emergency and their role in fuelling it. Until it realises that getting to net zero means ambitious action to phase out support for all fossil fuels, this newly proposed resolution is absolutely meaningless.”