Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 112

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 112
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 to maximise revenue generation activities. These outputs have been incorporated in our financial planning process for 2024. Our planning process also considered current climate policies to ensure they are included in the base scenario. We also considered impairment over the horizon of the financial plan. At this point in time, there are no associated material amendments required to the financial plan. All key businesses and applicable functions are involved in integrating climate-related risks and opportunities into our financial planning process. Implementing our climate strategy is managed through central Sustainable Finance teams under the Group Head of Sustainable and Transition Finance. For example: &#8226; The three pillars of our climate strategy are key drivers of our finance planning process with a pathway towards aiming to achieve this as well as risks and opportunities reviewed with business heads. &#8226; We continue to develop our sustainable and transition finance to ensure that we have a full offering for our clients and customers. &#8226; We strive to continue to decarbonise our own operations, reducing our Scope 1 and 2 emissions and our Scope 3 operational emissions. &#8226; We are tracking progress towards portfolio alignment of our financed emissions with the goals and timelines of the Paris Agreement through BlueTrack&#8482;, which includes a number of portfolio alignment metrics and levers available to manage the portfolio against these targets while understanding their financial implications. The metrics are subject to second-line review to assess the strategy against the targets. We have developed an internal approach to track and monitor progress against our targets. &#8226; We conduct portfolio reviews to monitor whether business activities are conducted within Barclays&#8217; mandate and aligned with our expectations, and whether they are of an appropriate scale relative to the risk and reward of the underlying activities. Mandate & Scale Exposure Controls form part of our overall Risk Appetite Control Framework and climate risks have been integrated into annual credit portfolio reviews for elevated risk sectors since 2020. We continue to monitor against mandate and scale limits linked to scoring within our Client Transition Framework. The 2024 financial planning process used a five- year baseline scenario to consider the impacts of climate risks. The baseline scenario considered the impact of current and agreed climate policies across the UK, US and EU on macroeconomic variables such as GDP and unemployment. This was done via a detailed assessment of climate policy impacts, likelihood of implementation and current level of policy progress. The outcome of this assessment led to a conclusion that there is currently a de minimis impact on the macroeconomic variables used to project financial performance. We will continue to review how climate risks