Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 65

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 65
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 focused on decarbonising the most emission-intensive areas of our operations, where we think we have the greatest ability to influence a reduction in those emissions over time, for example our real estate, technology, travel and supply chain. Our strategic levers of decarbonisation include: &#8226; Reducing energy demand, improving energy efficiency, electrification of our global real estate portfolio and vehicles, renewable electricity sourcing and replacing fossil-fuel- powered infrastructure with low-emission alternatives to reduce our Scope 1 and 2 emissions; &#8226; Key stakeholder engagements and collaborations, including with TPSPs, landlords and our colleagues, to track, manage and reduce Scope 1, 2 and 3 operational GHG emissions &#8211; while continuing to embed climate considerations across our decision-making processes, policies and contractual requirements. Progress to date We have set milestones4 and targets5 to support our progress towards net zero operations. In 2024 we continued to track ahead of our our milestone to reduce by 50% our absolute Scope 1 and 2 location-based GHG emissions by the end of 2030 &#8211; reducing these emissions by 56% against a 2018 baseline. This reduction is driven by ongoing work across our global real estate portfolio6, including energy demand reduction, for example by right- sizing7 our real estate and by improving our real estate's energy efficiency through our energy optimisation programme, and by our progress with our company cars electrification. Also, an external contributor to our Scope 2 location-based emissions reduction was the decarbonisation of some of the electricity grids in the countries in which we have operational presence. In 2024 we continued to source 100% renewable electricity8 for our global real estate portfolio ahead of our 2025 year end target and continued to track ahead of our target of 90% absolute reduction of our Scope 1 and 2 market-based emissions against a 2018 baseline &#8211; reducing these emissions by 95%. Our focus on renewable electricity sourcing helped us maintain this target performance. We have observed a reduction in our absolute supply chain emissions of 36% against our 2018 baseline. Whilst we have observed a reduction, there are limitations to our reported figure, as 54% of our supply chain emissions are estimated using GHG conversion factors applied to spend, therefore our reported reduction may not directly correlate to actual supply chain emissions decarbonisation. To try to address this limitation, our objective is to continue to work with our TP