Barclays Says Stop to Net Zero Banking Alliance

Barclays Says Stop to Net Zero Banking Alliance

by  
Leo Chu  
- 2025년 8월 5일

Barclays officially announced its withdrawal from the Net-Zero Banking Alliance (NZBA), the UN-backed banking alliance focused on tackling climate change.

The UK-based banking giant joins a growing list of major financial institutions, including the Wall Street banks, Canadian firms, and Australia’s Macquarie, that have recently parted ways with the NZBA. This significant blow to the alliance can be partly explained by increasing pressure from U.S. Republican lawmakers and a broad anti-ESG political campaign.

The Net Zero Banking Alliance, a global initiative launched by the United Nations Environment Programme Finance Initiative, comprises over 100 global financial institutions that have committed to aligning their lending and investment portfolios with net-zero emissions by 2050.

Barclays’ decision marks the latest blow to the coalition, especially after the recent NZBA’s efforts to significantly change its principles and loosen members’ requirements. Indeed, in April 2025, the members agreed to several measures regarding more stringent rules, including the elimination of mandatory requirements for banks to align their lending and capital market activities with the 1.5°C climate goal. This last initiative was also voted as a part of NZBA’s strategy to attract banks from countries that are not aligned with this ambitious target.

On its end, Barclays emphasized that recent high-profile exits had weakened the alliance’s capacity to effectively support the green transition. On the other end, the British bank reiterated its commitment to achieving net-zero emissions by 2050. As evidence of its efforts, the bank reported a $660 million revenue from sustainable and transition finance activities in 2024.

Despite these significant figures, the withdrawal of Barclays has raised concerns among sustainable investment-focused groups, considering this decision a step in the wrong direction at a time of increasing climate risks. In the meantime, a spokesperson of NZBA reaffirmed the capacity of the alliance to support transition, claiming that:

NZBA is uniquely positioned to provide the practical support banks need to grasp the opportunities and manage the risks of the move to net zero.”

Barclays’ departure highlights the ongoing tension between voluntary climate action and political realities, raising questions about the future cohesion of global net-zero finance efforts.

출처:

https://www.esgtoday.com/barclays-exits-net-zero-banking-alliance/

https://www.reuters.com/sustainability/cop/barclays-latest-british-lender-quit-climate-banking-alliance-2025-08-01/ 

https://www.reuters.com/sustainability/cop/banks-vote-loosen-climate-coalition-membership-rules-2025-04-15/ 

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