Big Tick winner

Barclays PLC - Working with energy on climate change

Man Group International Climate Change Award 2007 in association with The Climate Group

Barclays’ Climate Action Programme has given the company the structure to tackle climate change and access new markets.

Process

Barclays PLC is a major global financial services provider with an aim to be one of the leaders in climate change action.  To achieve this, Barclays has developed a five step Climate Action Programme:

  1. Reduce CO2 emissions by improving energy efficiency – Barclays has committed to multi-million pound investment in energy efficiency.
  2. Buy renewable energy – EDF Energy will provide Barclays with 300 GWh of renewable energy each year for the next three years.
  3. Make UK operations carbon neutral by offsetting remaining emissions - Barclays has made its UK operations carbon neutral by offseting 223,000 tonnes of CO2 emissions for 2006 and is now working progressively towards overall carbon neutrality across worldwide operations.
  4. Develop products and services that help customers reduce their own climate change impacts - Barclays is a market leader in carbon trading, is one of the largest providers of long-term finance for the Western European renewable energy sector and has launched the UK’s first carbon-neutral debit card, issued to all 11 million users.
  5. Engage with key stakeholders and contribute to the debate on climate change action – Barclays has engaged with government, NGOs, employees, media and investors.

To support the Programme, Barclays has helped produce ‘The Rough Guide to Saving Energy’, distributed to 60,000 employees, launched a website with information on Barclays’ climate change activities and a joint website with Climate Care to allow customers to offset their air travel emissions.

Impact

  • In the UK in 2006, Barclays reduced CO2 emissions from offices and buildings by 3% per full-time equivalent employee and reduced overall carbon intensity by 4%.
  • Barclays’ carbon footprint will be reduced by up to 125,000 tonnes of CO2 per year over the next three years through the purchase of renewable energy.
  • Barclays’ energy-efficiency investments in 2006 have delivered financial savings of £500,000 p.a.
  • Half of Barclays UK electricity consumption now comes from renewable sources, compared to 3 per cent previously.
  • If everyone who receives the ‘Rough Guide to Saving Energy’ saves one tonne of CO2, the equivalent of taking 16,000 cars off the road each year would be saved in emissions.

See also

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