Coalition Statement Response to Barclays

The BOCC authors clarify that Barclays was given multiple opportunities to review deal information and methodology prior to the 2024 report's publication. They explain that differences in reported financing increases stem from BOCC's use of a more rigorous approach for diversified companies, which uses activity-based data from annual reports and Bloomberg rather than simple industry classifications.

• The BOCC research team provided Barclays and other banks with several opportunities to review attributed deals and methodology backgrounders eight weeks before the report was published, and incorporated feedback when it aligned with the report's methodology.
• The discrepancy between Barclays' figures and BOCC's findings regarding the percentage increase in 2023 fossil fuel financing is due to BOCC's methodology, which uses activity-based data from Bloomberg and annual reports rather than relying solely on industry classifications, particularly for diversified companies.
• BOCC utilizes adjusters for deal values to account for companies with relatively small fossil fuel exposure, a practice that remained fundamentally unchanged for the 2024 report.

APA

Martin, L. (2024). Coalition Statement Response to Barclays. Reclaim Finance. https://reclaimfinance.org/site/en/2024/05/17/bocc-2024-coalition-statement-response-to-barclays/

Chicago

Martin, Léo. Coalition Statement Response to Barclays. Reclaim Finance, 2024. https://reclaimfinance.org/site/en/2024/05/17/bocc-2024-coalition-statement-response-to-barclays/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Coalition Statement Response to Barclays |publisher=Reclaim Finance |date=17 May 2024 |url=https://reclaimfinance.org/site/en/2024/05/17/bocc-2024-coalition-statement-response-to-barclays/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2024coalition, author = {Martin, Léo}, title = {{Coalition Statement Response to Barclays}}, publisher = {Reclaim Finance}, year = {2024}, month = may, url = {https://reclaimfinance.org/site/en/2024/05/17/bocc-2024-coalition-statement-response-to-barclays/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }