Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 80

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 80
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C. To meet our ambition, we need to reduce the client emissions we finance &#8211; not just for lending but for capital markets activities, too. We work closely with our clients to ensure that over time the activities we finance are aligned to the goals and timelines of the Paris Agreement. Consistent with our Purpose, and taking into account considerations of all relevant business factors, we have set emissions reduction targets for our Upstream Energy, Power, Steel, Cement, Automotive manufacturing, Aviation, UK Commercial Real Estate, UK Agriculture portfolios and convergence point for UK Housing. We have also set clear restrictions on financing certain activities. Further details on our financing restrictions can be found on page 47 Understanding our financed emissions A building block for Barclays' ambition to be a net zero bank by 2050 is our ability to estimate the full in-scope balance sheet financed emissions 1 In 2020, we developed our BlueTrack&#8482; methodology to measure our financed emissions and track our progress against our Upstream Energy and Power generation targets. As of 2023, we extended the scope of our calculations to cover the full in-scope balance sheet financed emissions based on methodology which has been developed using the PCAF Standard and expanded the scope of BlueTrack&#8482; to track our progress against targets for a total of eight sectors as well as UK Housing for which we set a convergence point. 2 In 2024, we have refreshed our estimate of full in-scope balance sheet financed emissions. These emissions are set out on pages 35 to 38 where we also set out further information about this methodology. Because it takes time to fully analyse this data, these emissions are as at December 2023. For sectors where we have set 2030 targets, we have continued to use the BlueTrack&#8482; methodology and have updated our financed emissions metrics and progress against those targets with data as at December 2024. Our approach to disclosing financed emissions is pivoted across two sections: 1 Estimating the full in-scope balance sheet financed emissions (Scope 3, Category 15) using a methodology which has been developed using the PCAF Standard. The data reported in this section of the Annual Report (up to page 38) is as at December 2023. Hence, these numbers follow a lag of one year when compared to other climate-related disclosures based on December 2024 in this report, due to the lead time required to fully analyse our entire in-scope exposures. 2 Continuing to use