Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 105

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 105
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 embed their sustainability targets into financing commitments and we look forward to continuing to work with our clients to innovate the product set. Note: 1 Bond issuance includes Bonds (DCM), CMBS, Securitization, Munis and PCM Debt. Strategy Shareholder information Climate and sustainability report Governance Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 48 Implementing our Climate Strategy (continued) TCFD Strategy Recommendation B | Strategic Pillar 1

Transition financing In 2024, we published our Transition Finance Framework outlining the criteria for transition finance transactions that will contribute to our $1trn Sustainable and Transition Financing target. 2024 marked the first full year of utilisation of the Framework. Over the year, we facilitated $5.7bn of transition finance compared to $0.4bn in 2023. While new technologies are still emerging, we are identifying opportunities to finance pathways across high-emitting sectors, including energy, power, chemicals, and metals & mining. We are looking to play a role in supporting a range of carbon and emission reduction projects &#8211; from the manufacturing of blue hydrogen and related infrastructure for end-use sectors with limited decarbonisation alternatives, to the electrification of compressor units, resulting in the elimination of natural gas use, as well as the adoption of low-carbon technologies, As emerging technologies scale and continue to develop, we are committed to leveraging our expertise to further identify opportunities for transition financing. We participated in the financing for the Northern Endurance Partnership (NEP), the CO2 transportation and storage provider for the East Coast Cluster. Once constructed, the NEP infrastructure will initially serve the Teesside-based carbon capture projects &#8211; NZT Power, H2Teesside and Teesside Hydrogen CO2 Capture from 2027&#8211; that were selected for first connection to NEP by DESNZ in March 2023 as part of the UK&#8217;s cluster sequencing process for CCUS. NEP was granted the first Carbon Dioxide Transport and Storage Licence in the UK under the Transportation and storage Regulatory Investment (TRI) regime &#8211; a regulatory regime that unlocks private investment in long-term infrastructure by providing incentives and protections to support the development of the nascent CCUS market in the UK. The infrastructure includes a CO2 gathering network, onshore compression facilities, a 145km offshore pipeline and subsea injection facilities in to the Endurance saline aquifer located around 1000m