Barclays is under pressure to stop financing some fossil fuel companies after a group of shareholders filed a landmark climate change resolution for the British bank’s annual investor meeting, thrusting the European financial industry to the centre of the debate on global warming.Eleven institutional investors, which collectively manage £130bn and include big British public pension funds Brunel Pension Partnership and LGPS Central, as well as 100 individual shareholders, co-filed the proposal.
FT 8th Jan 2020 read more »
Climate activist investors in Barclays are bringing a formal shareholder challenge to try to force it to phase out the financing of fossil fuel companies, in the first move of its kind at a European bank. Eleven institutional investors with more than £130 billion under management have filed a resolution to be voted on at Barclays’ annual meeting in May. It asks the bank to “set and disclose targets to phase out the provision of financial services” to energy and utility companies that are not aligned with the Paris agreement on climate change.
Times 8th Jan 2020 read more »