Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 193

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 193
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 supply chain. For our financed emissions, where we now have eight sector targets, the Committee received regular updates on our progress. The Committee is aware that future progress will likely remain volatile and non-linear due to factors and external dependencies beyond our control. Our upstream energy emissions reductions stayed above 40%, our 2030 target, and well ahead of our 2025 target of 15%. The Committee received an update on the implementation of our updated Climate Change Statement, announced in February 2024, which reinforced our focus on clients with transition plans and low-carbon intensive sources of energy. Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 101Governance Directors&#8217; report: Board Sustainability Committee report

The Committee reviewed the sustainable finance strategy and has been pleased to see our continued role as a provider of capital and expertise to low-carbon infrastructure projects and innovative climate technologies, as witnessed by the &pound;94.4bn of financing towards our $1 trillion target of Sustainable and Transition Financing, a 39% increase year on year. This progress is underpinned by our Sustainable and Transition Finance Frameworks which have robust methodologies to track and disclose against our target. We have also invested &pound;203m to date in climate tech companies whose technologies have the potential to substantially reduce the emissions in the industries of our clients if they can be scaled appropriately. The table on page 103 provides an overview of the Committee&#8217;s key activities over the year. The Committee advises the Board in its role overseeing the Group&#8217;s climate and sustainability strategy. The Committee receives presentations on the challenges and opportunities pertinent to its work (including external input on specific areas of focus), undertakes detailed reviews and discussions and makes recommendations to the Board. The topics covered by the Committee are reviewed regularly to ensure that members have visibility of material regulatory, legal and political developments in our key markets. Given the breadth of climate and sustainability matters and their impact across the Group, it is important we approach such matters with a cohesive view. Having cross-membership on the Committee with the Chairs of our Board Audit, Remuneration and Risk Committees helps to ensure a streamlined approach to Board-level oversight of all climate and sustainability related matters. The Committee continues to have a non- executive representative from the BBUKPLC Board, which provides further connectivity across Group matters. Committee effectiveness The 2024 Committee effectiveness review was externally facilitated, as required by the Code.