Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 82

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 82
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 using the PCAF Standard with the following key exceptions: 1 We have gone beyond the scope of PCAF&#8217;s definition of asset classes to additionally cover undrawn commitments, contingent liabilities and capital markets financing activities. For instance, in the case of a loan we consider the committed amount (both drawn and undrawn), as opposed to just outstanding amounts (which is the approach preferred by PCAF) for calculating financed emissions. 2 We have also consistently used the book value of equity and debt for all clients to calculate the attribution factor, while PCAF recommends using the Enterprise Value Including Cash (EVIC) for listed entities. 3 PCAF recommends calculating emissions at a client level. For certain sectors, clients could have presence in activities across multiple parts of the value chain and in such cases reported emissions may not be consistent and reliable to estimate financed emissions. To overcome this challenge we calculate emissions at an activity level, using a range of options aligned to the PCAF Standard's guidance to calculate client emissions. For certain activities &#8211; including Upstream Energy, Power Generation, Automotive manufacturing, UK Agriculture and Aviation &#8211; we employ asset-level production data to estimate client emissions. For activities such as Cement and Steel production, we use client reported emissions. Where we do not have sufficient data on reported emissions or physical activities &#8211; for example, in relation to mortgages where we do not have EPC data available &#8211; we use fall-backs based on emission factors. For an immaterial part of our balance sheet (c.1%), where the appropriate sector fall-backs could not be reliably obtained, we have used the respective asset class average economic emissions intensity to estimate emissions. Our Financed Emissions Methodology paper (published in 2025) provides more details of our methodology and can be found within the ESG Resource Hub: home.barclays/sustainability/ esg-resource-hub/reporting-and-disclosures/ Emissions coverage We have estimated the full in-scope balance sheet financed emissions based on Scope 1 and Scope 2 of our clients&#8217; emissions as at December 2023. Hence, these numbers follow a lag of one year when compared to other disclosures based on December 2024 in this report. The lag of one year is due to the lead time required to fully analyse our entire in-scope exposures. We have excluded our clients&#8217; Scope 3 emissions from these calculations except for activities where we have set a target which covers Scope 3 emissions