Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 322

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 322
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 PLC 2024 Annual Report on Form 20-F 168Governance ESG Governance (continued)

Management's role in assessing and managing sustainability and climate-related risks and opportunities Oversight and management of Barclays' climate and sustainability strategy is increasingly embedded in business-as- usual management structures, including executive committees. These committees are mandated and form part of Barclays&#8217; formal governance architecture. They are convened to oversee a specific attribute of the Barclays control framework. Each committee is itself governed by Terms of Reference that lay out the duties, decision-making authority and escalation route of any material issues. The executive management committees receive regular briefings on matters including climate change and consider both risks and opportunities. Climate and sustainability-related risks are assessed and escalated as appropriate through the various risk forums. The Group Sustainability Committee assists the Group Executive Committee and the Board Sustainability Committee (BSC) in considering sustainability-related matters across the Group, with a mandate to review and approve amendments to the Group sustainability strategy for approval by the BSC. Group Executive Committee (Group ExCo) Throughout 2024 Group ExCo has been provided with regular updates on our climate strategy, including progress on our commitments, stakeholder engagement and expectations, and target-setting. The Group Head of PPCR is a member of Group ExCo and is accountable for ensuring the Group&#8217;s societal purpose is present in strategic decision-making at the highest levels in the organisation. The Group Head of PPCR, and their team, regularly updates Group ExCo on a range of Public Policy and Corporate Responsibility matters, covering key government and regulatory policy, regulator engagement and ESG matters, including climate. In particular, in 2024 Group ExCo was provided updates on sustainability matters including proposed amendments to the Climate Change Statement and Group Statement on Human Rights, ahead of the publication of updated versions of those documents in February 2024. Group ExCo also received an update on the Group's sustainable finance strategy. The Group Chief Risk Officer is a member of Group ExCo and is accountable for the approach to managing climate-related financial and operational risks to Barclays; this is implemented within the Group's Enterprise Risk Management Framework (ERMF). The Group Sustainability Committee, established by Group ExCo in 2023, continued to provide updates on a broad range of sustainability issues. Executive Remuneration Annual bonus outcomes and Long Term Incentive Plan (LTIP) award outcomes for the Executive Directors of Barclays PLC are assessed against a framework of measures set by the Remuneration Committee at the start of the performance period for each award.