The bank has today (15 February) published its results for Q4 of 2022 and the full year . A steeper-than-expected fall in profits both quarter-on-quarter and year-on-year was confirmed, with full-year net profit standing at £5bn, down 19% year-on-year. This disappointed bankers, who saw the bonus pool cut, and investors, with shares sinking at the time of the announcement. Also disappointed were a number of major sustainable finance advocacy organisations, who had been expecting a full update to Barclays’ climate policy along with the results. Barclays pledged in spring 2020 to achieving net-zero emissions across all business scopes, plus all financed emissions, by 2050. It has always maintained that its approach is consistent with the 1.5C temperature pathway of the Paris Agreement, regarded as necessary to avoid the worst physical impacts of climate change. Green groups have disputed this, with criticism regularly levelled at the bank’s policies on lending to high-emission sectors including fossil fuels. Barclays pledged last year to end financing for thermal coal mining and power by 2030 in OECD nations, and by 2035 elsewhere. It also committed not to take on new clients engaged in thermal coal mining from 2023. Additionally, it pledged to exclude clients […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
