Displaying items by tag: ShareAction

Pressure group ShareAction has called on Barclays Bank to ‘phase out’ financing energy companies that are not aligned with the Paris climate accord. Barclays is close to securing qualified investor support for a new action plan on climate change, as they move away from relationships with carbon-polluting companies. In May their shareholders will have the chance to vote on the proposal at their annual general meeting. City sources said that Barclays' alternative resolution would commit it to helping ‘transition’ energy companies towards the Paris goals. One investor briefed on the plan described it as a ‘landmark’ for a major lender. We can pray that other banks will commit to measures that will cause polluting companies to achieve Paris compliance across lending measures, underwriting, corporate finance and all forms of project financing.