Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 61

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 61
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 - to explore their strategic and financing requirements as well as undertake a further sectoral LEAP assessment. Furthermore, in 2025 we intend to publish a whitepaper which details our approach and insights from applying the LEAP framework as a financial services provider. Note: In applying the above approach to our Barclays Europe Power and Barclays Mining portfolios, we recognise that there remain limitations in the coverage and quality of certain data sets - for example differing spatial resolutions for 'state of nature' data, or limited availability of site level corporate impact data - that limit the ability of the exercise to draw reliably accurate conclusions for certain areas at this time. We also note that the Power and Mining sectors are highly regulated industries, subject to environmental permitting and scrutiny throughout the lifecycle of all such operations. Sustainability and climate-related opportunities identified over the short, medium and long term We recognise the opportunities for Barclays arising from the global transition to a low- carbon economy, which includes scaling up zero or near-zero emitting technologies and businesses and supporting emissions reductions in high-emitting and hard-to- abate sectors. At the end of 2022, we announced a target to facilitate $1trn of Sustainable and Transition Financing by the end of 2030. This followed a review in 2022 of the financing requirements arising from the global transition and the potential addressable market for Barclays. The market opportunity Our 2022 analysis indicated, across North America, Europe and Asia Pacific (excluding China) and based on the then existing policy, technology and market developments, a 10-year addressable opportunity of over $16trn to finance the energy transition, including renewables and early-stage climate technologies that are needed to scale to support the transition to net zero, and an estimated $3.5trn-6trn annual opportunity in sustainable finance instruments through to the end of 2030. In the UK specifically, the analysis indicated that Green Home Mortgages and retrofit finance for homes represented a ~$400-600bn opportunity through to the end of 2030; while retrofit investment needed for non-residential buildings in the UK represented a ~$27-41bn opportunity over the same period. We have continued to analyse the opportunity in sustainable and transition finance as markets evolve, building on our 2022 review, to further inform strategic decision-making and evaluate how we can best support our clients as they transition. In 2024 our analysis looked at financing opportunities for climate technologies under a range of climate scenarios up to the end of 2030 and identified key growth opportunities in the