Crunch time for Barclays, queen of coal

Reclaim Finance argues that Barclays is a leading global financier of coal and fossil fuels, providing over $27 billion to coal companies between 2018 and 2020. The statement criticizes the bank's current policies for allowing the funding of companies with coal expansion plans and calls for a full exit from coal by 2030 in EU/OECD countries and 2040 worldwide.

• Between October 2018 and October 2020, Barclays provided more than $27 billion to companies on the Global Coal Exit List, ranking 8th globally for overall financing and 5th for coal lending. The bank is responsible for half of the UK financial sector's support for the coal industry.
• Barclays' financing of coal is distributed across several regions, with significant sums going to European and US utilities such as Fortum ($7.2 billion), Duke Energy ($2.3 billion), and RWE ($1 billion), as well as Asian companies including Power Finance Corp ($1.5 billion) and Adani ($605 million).
• The bank's current coal policy, published in April 2020, is criticized for not excluding companies with coal power expansion plans, resulting in nearly $2 billion directed toward such companies between October 2018 and October 2020.
• Beyond coal, Barclays provided over $145 billion to fossil fuel companies between the end of 2015 and 2020, making it the worst fossil bank in Europe and the 7th worst globally. Funding for non-conventional fossil fuels, including fracking, tar sands, and Arctic oil and gas, increased by 32% in 2020 compared to 2019.

APA

admin (2021). Crunch time for Barclays, queen of coal. Reclaim Finance. https://reclaimfinance.org/site/en/2021/05/05/crunch-time-for-barclays-queen-of-coal/

Chicago

admin. Crunch time for Barclays, queen of coal. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/05/05/crunch-time-for-barclays-queen-of-coal/.

Wikipedia

{{cite press release |last1=admin |title=Crunch time for Barclays, queen of coal |publisher=Reclaim Finance |date=5 May 2021 |url=https://reclaimfinance.org/site/en/2021/05/05/crunch-time-for-barclays-queen-of-coal/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021crunch, author = {admin}, title = {{Crunch time for Barclays, queen of coal}}, publisher = {Reclaim Finance}, year = {2021}, month = may, url = {https://reclaimfinance.org/site/en/2021/05/05/crunch-time-for-barclays-queen-of-coal/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }