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Barclays CEO Highlights Challenges in Global Shift to Net Zero Amid Declining Commitment to Sustainability

Financial Services | Corporate Carbon Management | Leadership Moves

  • Barclays CEO C.S. Venkatakrishnan expressed concerns at a Barclays ESG conference in New York about the declining global commitment to sustainability, citing political polarization around ESG issues as a significant impediment at a critical time for the transition to a net zero economy.
  • Major financial institutions, including JPMorgan Chase and State Street, are retracting their involvement in international climate agreements like Climate Action 100+, influenced by political pressures and regulatory concerns in the US, signaling a trend of wavering commitment to green investment strategies.
  • Despite setbacks, Barclays remains dedicated to its sustainability goals, actively financing sustainable and transition projects with a significant portion of its $1 trillion target by 2030 already achieved. The bank's ongoing efforts include facilitating the sale of sustainable bonds and maintaining a robust commitment to reducing its supply-chain greenhouse gas emissions by 50% by the end of 2030.
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