Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 51

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 51
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 the supply and capacity of renewables and climate tech solutions that will help to decarbonise high- emitting activities, to reduce reliance on fossil fuels. Many highly carbon-intensive sectors require finance to transition to a low-carbon economy. The Climate Policy Initiative estimates that this requires $7.4trillion of climate finance annually through 20301. Barclays is committed to help finance the energy transition. In 2022 we set a target to facilitate $1trn of Sustainable and Transition Financing between 2023 and the end of 2030. In 2024 we facilitated $94.4bn of Sustainable and Transition Financing, of which $88.7bn was Sustainable Financing and $5.7bn was Transition Financing. We are also focused on investing and scaling climate tech, the physical and digital technologies that will reduce or remove greenhouse gas emissions or improve resilience or adaption to the physical impacts of climate change, for example, &#8211; hydrogen, carbon capture, batteries, amongst others&#8198;. To support this, Barclays Climate Ventures, formerly Sustainable Impact Capital, has a mandate to invest up to &pound;500m of Barclays&#8217; own capital by the end of 2027 and has invested &pound;203m into over 20 innovative companies since 2020. Integrating nature and human rights considerations into our approach Nature and social impacts are interlinked with climate change and the efforts to mitigate and adapt to it. During 2024, we continued our work to build an understanding of how our activities, and those of our clients, impact and depend on nature. We also took further steps to enhance and embed the Group&#8217;s approach to respecting human rights informed by the 2023 salient human rights risk assessments with the corporate and investment bank financing portfolios2. Implementing our strategy against a shifting landscape While we have made progress in our ambition towards becoming a net zero bank, and continue to see a significant opportunity to demonstrate our commercial leadership and support for our clients in the transition, we recognise that the shift to a low-carbon economy is complex and subject to significant uncertainties. Our ability to implement our climate strategy depends heavily on our clients&#8217; ability to commercially decarbonise their business models, which is influenced by a wide range of external factors, including market developments, technological progress and its financial viability, a stable and supportive policy environment, regulatory alignment, changes to societal behaviour, geopolitical developments and regional variations. 2024 marked the first year in which the monthly global average