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Barclays latest British lender to quit climate banking alliance

GREATER LONDON, ENGLAND, AUG 1 – Barclays cited weakened alliance membership after major global banks left but reaffirmed its net zero by 2050 target and $1 trillion sustainable finance goal by 2030.

  • On Friday, Barclays announced it would withdraw from the Net Zero Banking Alliance, becoming the second British bank to leave after HSBC earlier this month.
  • Following a wave of withdrawals, the NZBA lost key membership, as Barclays cited the departure of most global banks, including six major US banks, as its reason for leaving.
  • Earlier this week, Barclays reaffirmed its commitment to net zero by 2050 and to mobilise $1 trillion in sustainable and transition finance, despite exiting the Net Zero Banking Alliance.
  • Following Barclays’s withdrawal, ShareAction called the decision 'incredibly disappointing' and a step in the wrong direction, according to Jeanne Martin, co-Director of ShareAction.
  • Critics warn Barclays’s exit undermines the NZBA’s influence, as it still comprises 126 banks across 44 nations with over 100 setting science-based targets.
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El Economista broke the news in on Friday, August 1, 2025.
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