Environment

Shareholders name on Barclays to finish fossil gas funding in landmark weather disaster solution

Barclays is being officially challenged by way of shareholders to prevent financing fossil gas firms which can be using the weather disaster, within the first solution of its type filed towards a Ecu financial institution.

11 pension price range managing £130bn have filed the movement calling on Barclays to convey its actions into line with the Paris Local weather Settlement.

The solution is ready to be voted on at Barclays’ annual assembly in Might, and will require the financial institution to prevent investment any corporate that has now not aligned itself with the Paris objectives, which purpose to restrict world warming to at least one.5C.

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For the reason that settlement was once signed in 2015, Barclays has supplied $85bn (£65bn) of investment to fossil gas corporations and carbon-intensive tasks.

That file makes it Europe’s greatest financier of fossil fuels and the sixth-largest on the earth.

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1/50 eight January 2020

Other folks learn messages written at the David Bowie mural in Brixton, south London, on what would had been the singer’s 73rd birthday

PA

2/50 7 January 2020

England’s Stuart Extensive celebrates with teammate Ben Stokes after the dismissal of South Africa’s Rassie van der Dussen right through the 5th day of the second one Take a look at cricket fit in Cape The town. Stokes claimed the ultimate 3 wickets within the area of 14 deliveries to wrap up a 189-run win

AFP by means of Getty

Three/50 6 January 2020

Protesters in London participate in an indication in beef up of a British lady discovered to blame of mendacity about being gang raped in Cyprus

AP

four/50 five January 2020

Protesters display out of doors the United States Embassy in London, after The us killed Iran’s basic Qassem Soleimani in a drone strike at Baghdad’s world airport

PA

five/50 four January 2020

Metropolitan police cordon off Charteris Highway with reference to the junction with Lennox Highway in Finsbury Park in north London, after a person was once stabbed to demise on Friday night, the primary homicide in London in 2020

PA

6/50 Three January 2020

Protesters, retaining of the chief of the Other folks’s Mujahedin of Iran Massoud Rajavi, out of doors Downing Boulevard in London after the United States killed Normal Qassem Soleimani in a drone strike at Baghdad’s world airport. Soleimani was once head of Tehran’s elite Quds Drive and Iran’s best basic

PA

7/50 2 January 2020

A keeper counts squirrel-monkeys at London Zoo right through the once a year stocktake. Taking care of greater than 500 other species, ZSL London Zoo’s keepers face the difficult process of tallying up each and every mammal, chook, reptile, fish and invertebrate on the Zoo

AP

eight/50 1 January 2020

Peter Wright celebrates profitable with the Sid Waddell trophy on the Darts International Championships in London. He shocked Michael van Gerwen to clinch his first identify 7-Three

PA

nine/50 31 December 2019

Surfers at Tynemouth at the north east coast

PA

10/50 30 December 2019

Deer graze within the morning mist as cyclists experience by way of in Richmond Park, London

Reuters

11/50 29 December 2019

Evening sky after the sundown at Whitley Bay in Northumberland

PA

12/50 28 December 2019

The Harlequins avid gamers arrive on the stadium previous to the Gallagher Premiership Rugby Large Recreation 12 fit between Harlequins and Leicester Tigers at Twickenahm Stadium

Getty Photographs for Harlequins

13/50 27 December 2019

A automobile drives thru floodwater close to Harbridge, north of Ringwood in Hampshire, after the river Avon burst its banks

PA

14/50 26 December 2019

Members within the Outdated Surrey and West Kent Boxing Day Hunt in Chiddingstone. Looking with horses and hounds is a Boxing Day custom. For the reason that fox looking ban in 2004, changed hunts happen the usage of scented trails for the animals to practice

EPA

15/50 25 December 2019

Swimmers of the Serpentine Swimming Membership participate within the Peter Pan Cup race, which is held each and every Christmas Day on the Serpentine, in central London

PA

16/50 24 December 2019

Customers bid for cuts of meat right through a Christmas Eve public sale in Smithfield marketplace in London

EPA

17/50 23 December 2019

Reggie the canine is rescued with a ship from flooding on the Little Venice Nation Park and Marina in Maidstone

AFP by means of Getty

18/50 22 December 2019

Other folks collect at Stonehenge in Wiltshire to mark the wintry weather solstice, and to witness the first light after the longest night time of the 12 months

PA

19/50 21 December 2019

Southampton’s Jack Stephens ratings their 2d purpose towards Aston Villa

Reuters

20/50 20 December 2019

The coffin arrives for the funeral of London Bridge terror assault sufferer Jack Merritt at Nice St Mary’s Church in Cambridge

PA

21/50 19 December 2019

Queen Elizabeth II and her son Prince Charles stroll at the back of the Imperial State Crown as they proccess throughout the Royal Gallery, earlier than the Queen’s Speech, right through the State Opening of Parliament

AFP by means of Getty

22/50 18 December 2019

Luke Jerram’s artwork set up ‘Gaia’, a duplicate of planet earth created the usage of detailed Nasa imagery of the Earth’s floor, hangs on show on the Eden Mission in St Austell, Cornwall

PA

23/50 17 December 2019

A surfer will get into the festive spirit on the inland browsing lagoon at The Wave, close to Bristol

PA

24/50 16 December 2019

Snowy stipulations close to Deepdale within the Yorkshire Dales Nationwide Park as snow hits portions of the United Kingdom

PA

25/50 15 December 2019

Oisin Carson, five, choices a Christmas tree at Wicklow Method Christmas tree farm in Roundwood

PA

26/50 14 December 2019

First Minister, Nicola Sturgeon, takes a selfie as she joins the SNPs newly elected MPs for a gaggle photograph out of doors the V&A Museum in Dundee, Scotland

Getty Photographs

27/50 13 December 2019

Top Minister Boris Johnson and Carrie Symonds arrive again at Downing Boulevard after the effects for the overall election have been introduced. The Conservative Celebration received with an general majority

EPA

28/50 12 December 2019

A canine out of doors a polling station right through the overall election in Northumberland

Reuters

29/50 11 December 2019

Liberal Democrat chief Jo Swinson stands between a Forestall Brexit signal as she attends a basic election marketing campaign match at Esher Rugby Membership, south west London. Britain will pass to the polls the next day to come to vote

AFP by means of Getty

30/50 10 December 2019

A surfer off the North East coast at Tynemouth

PA

31/50 nine December 2019

Leah Rossiter (left) and Ceara Carney, dressed as mermaids, sign up for individuals of the Irish Natural world Consider and Extinction Rebel Eire protesting out of doors Leinster Space in Dublin, towards overfishing in Irish Waters

PA

32/50 eight December 2019

Labour birthday party chief Jeremy Corbyn poses for selfies with supporters at a basic election rally in Colwyn Bay, north Wales

AFP by means of Getty

33/50 7 December 2019

Speedo Mick out of doors the stadium earlier than the Premier League fit between Everton and Chelsea at Goodison Park

Motion Photographs by means of Reuters

34/50 6 December 2019

A weather activist dressed in a masks and retaining a placard studying ‘Fossil gas technology is over’ out of doors Millbank Studios in London

AP

35/50 five December 2019

SNP chief Nicola Sturgeon with the SNP marketing campaign bus in entrance of the Queensferry Crossing, whilst at the Normal Election marketing campaign path in Scotland

PA

36/50 four December 2019

The Christmas tree in Trafalgar Sq., which is given annually by way of the town of Oslo as a token of Norwegian gratitude to the folks of London for his or her help right through the 2d International Struggle

PA

37/50 Three December 2019

Protesters towards the talk over with of US President Trump right through an indication close to Buckingham Palace at the first day of the Nato Summit in London

EPA

38/50 2 December 2019

England captain Joe Root celebrates attaining his double century right through day four of the second one Take a look at fit towards New Zealand at Seddon Park in Hamilton, New Zealand

Getty

39/50 1 December 2019

A difficult frost is observed at the first day of the meteorological wintry weather in Pitlochry, Scotland

Reuters

40/50 30 November 2019

A police officer appears at flora left at London Bridge in central London, after a terrorist dressed in a faux suicide vest who went on a knife rampage killing two folks, and was once shot lifeless by way of police

PA

41/50 29 November 2019

College kids and scholars participate within the Early life Strike for Local weather in London as a part of the Fridays for Long term World Local weather Strike

Angela Christofilou/The Impartial

42/50 28 November 2019

Cyclists make their method up a tree coated hill as regards to Moor Crichel in Dorset. November’s dismal climate will in any case alternate, with drier and less warm stipulations coming for the beginning of December, forecasters have mentioned

PA

43/50 27 November 2019

The instant a swan flew over a flock of 60,000 starlings as nightfall fell on Whixall Moss Nature Reserve in Shropshire

Andrew Fusek Peters / SWNS

44/50 26 November 2019

SNP chief Nicola Sturgeon performs with native kids right through a talk over with to the Jelly Toddlers & Cookies Play Cafe in Uddingston, South Lanarkshire

PA

45/50 25 November 2019

Top Minister Boris Johnson poses with sheep as he visits the Royal Welsh Showground, in Llanelwedd, Builth Wells, while at the Normal Election marketing campaign path

PA

46/50 24 November 2019

Cush Jumbo attends the 65th Night Same old Theatre Awards at London Coliseum

Getty Photographs

47/50 23 November 2019

Labour Celebration chief Jeremy Corbyn meets a supporter on a educate on his go back from a talk over with to Sheffield

PA

48/50 22 November 2019

Gallery assistants regulate ‘The Historic The town of Uglich’ by way of Konstantin Yuon, 1913, estimated at £600,000 to £800,000, right through a press preview of the sale of works by way of probably the most maximum pre-eminent creators of Russian artwork at Sotheby’s in London

PA

49/50 21 November 2019

A mom seal seems to hug her puppy as gray seals go back to Donna Corner Nationwide Nature Reserve in Lincolnshire, the place they arrive annually in past due autumn and wintry weather to offer delivery

PA

50/50 20 November 2019

After Mauricio Pochettino’s sacking the eveninfg earlier than newly appointed Tottenham head trainer, Jose Mourinho, takes his first coaching consultation in price

Tottenham Hotspur FC by means of Getty

1/50 eight January 2020

Other folks learn messages written at the David Bowie mural in Brixton, south London, on what would had been the singer’s 73rd birthday

PA

2/50 7 January 2020

England’s Stuart Extensive celebrates with teammate Ben Stokes after the dismissal of South Africa’s Rassie van der Dussen right through the 5th day of the second one Take a look at cricket fit in Cape The town. Stokes claimed the ultimate 3 wickets within the area of 14 deliveries to wrap up a 189-run win

AFP by means of Getty

Three/50 6 January 2020

Protesters in London participate in an indication in beef up of a British lady discovered to blame of mendacity about being gang raped in Cyprus

AP

four/50 five January 2020

Protesters display out of doors the United States Embassy in London, after The us killed Iran’s basic Qassem Soleimani in a drone strike at Baghdad’s world airport

PA

five/50 four January 2020

Metropolitan police cordon off Charteris Highway with reference to the junction with Lennox Highway in Finsbury Park in north London, after a person was once stabbed to demise on Friday night, the primary homicide in London in 2020

PA

6/50 Three January 2020

Protesters, retaining of the chief of the Other folks’s Mujahedin of Iran Massoud Rajavi, out of doors Downing Boulevard in London after the United States killed Normal Qassem Soleimani in a drone strike at Baghdad’s world airport. Soleimani was once head of Tehran’s elite Quds Drive and Iran’s best basic

PA

7/50 2 January 2020

A keeper counts squirrel-monkeys at London Zoo right through the once a year stocktake. Taking care of greater than 500 other species, ZSL London Zoo’s keepers face the difficult process of tallying up each and every mammal, chook, reptile, fish and invertebrate on the Zoo

AP

eight/50 1 January 2020

Peter Wright celebrates profitable with the Sid Waddell trophy on the Darts International Championships in London. He shocked Michael van Gerwen to clinch his first identify 7-Three

PA

nine/50 31 December 2019

Surfers at Tynemouth at the north east coast

PA

10/50 30 December 2019

Deer graze within the morning mist as cyclists experience by way of in Richmond Park, London

Reuters

11/50 29 December 2019

Evening sky after the sundown at Whitley Bay in Northumberland

PA

12/50 28 December 2019

The Harlequins avid gamers arrive on the stadium previous to the Gallagher Premiership Rugby Large Recreation 12 fit between Harlequins and Leicester Tigers at Twickenahm Stadium

Getty Photographs for Harlequins

13/50 27 December 2019

A automobile drives thru floodwater close to Harbridge, north of Ringwood in Hampshire, after the river Avon burst its banks

PA

14/50 26 December 2019

Members within the Outdated Surrey and West Kent Boxing Day Hunt in Chiddingstone. Looking with horses and hounds is a Boxing Day custom. For the reason that fox looking ban in 2004, changed hunts happen the usage of scented trails for the animals to practice

EPA

15/50 25 December 2019

Swimmers of the Serpentine Swimming Membership participate within the Peter Pan Cup race, which is held each and every Christmas Day on the Serpentine, in central London

PA

16/50 24 December 2019

Customers bid for cuts of meat right through a Christmas Eve public sale in Smithfield marketplace in London

EPA

17/50 23 December 2019

Reggie the canine is rescued with a ship from flooding on the Little Venice Nation Park and Marina in Maidstone

AFP by means of Getty

18/50 22 December 2019

Other folks collect at Stonehenge in Wiltshire to mark the wintry weather solstice, and to witness the first light after the longest night time of the 12 months

PA

19/50 21 December 2019

Southampton’s Jack Stephens ratings their 2d purpose towards Aston Villa

Reuters

20/50 20 December 2019

The coffin arrives for the funeral of London Bridge terror assault sufferer Jack Merritt at Nice St Mary’s Church in Cambridge

PA

21/50 19 December 2019

Queen Elizabeth II and her son Prince Charles stroll at the back of the Imperial State Crown as they proccess throughout the Royal Gallery, earlier than the Queen’s Speech, right through the State Opening of Parliament

AFP by means of Getty

22/50 18 December 2019

Luke Jerram’s artwork set up ‘Gaia’, a duplicate of planet earth created the usage of detailed Nasa imagery of the Earth’s floor, hangs on show on the Eden Mission in St Austell, Cornwall

PA

23/50 17 December 2019

A surfer will get into the festive spirit on the inland browsing lagoon at The Wave, close to Bristol

PA

24/50 16 December 2019

Snowy stipulations close to Deepdale within the Yorkshire Dales Nationwide Park as snow hits portions of the United Kingdom

PA

25/50 15 December 2019

Oisin Carson, five, choices a Christmas tree at Wicklow Method Christmas tree farm in Roundwood

PA

26/50 14 December 2019

First Minister, Nicola Sturgeon, takes a selfie as she joins the SNPs newly elected MPs for a gaggle photograph out of doors the V&A Museum in Dundee, Scotland

Getty Photographs

27/50 13 December 2019

Top Minister Boris Johnson and Carrie Symonds arrive again at Downing Boulevard after the effects for the overall election have been introduced. The Conservative Celebration received with an general majority

EPA

28/50 12 December 2019

A canine out of doors a polling station right through the overall election in Northumberland

Reuters

29/50 11 December 2019

Liberal Democrat chief Jo Swinson stands between a Forestall Brexit signal as she attends a basic election marketing campaign match at Esher Rugby Membership, south west London. Britain will pass to the polls the next day to come to vote

AFP by means of Getty

30/50 10 December 2019

A surfer off the North East coast at Tynemouth

PA

31/50 nine December 2019

Leah Rossiter (left) and Ceara Carney, dressed as mermaids, sign up for individuals of the Irish Natural world Consider and Extinction Rebel Eire protesting out of doors Leinster Space in Dublin, towards overfishing in Irish Waters

PA

32/50 eight December 2019

Labour birthday party chief Jeremy Corbyn poses for selfies with supporters at a basic election rally in Colwyn Bay, north Wales

AFP by means of Getty

33/50 7 December 2019

Speedo Mick out of doors the stadium earlier than the Premier League fit between Everton and Chelsea at Goodison Park

Motion Photographs by means of Reuters

34/50 6 December 2019

A weather activist dressed in a masks and retaining a placard studying ‘Fossil gas technology is over’ out of doors Millbank Studios in London

AP

35/50 five December 2019

SNP chief Nicola Sturgeon with the SNP marketing campaign bus in entrance of the Queensferry Crossing, whilst at the Normal Election marketing campaign path in Scotland

PA

36/50 four December 2019

The Christmas tree in Trafalgar Sq., which is given annually by way of the town of Oslo as a token of Norwegian gratitude to the folks of London for his or her help right through the 2d International Struggle

PA

37/50 Three December 2019

Protesters towards the talk over with of US President Trump right through an indication close to Buckingham Palace at the first day of the Nato Summit in London

EPA

38/50 2 December 2019

England captain Joe Root celebrates attaining his double century right through day four of the second one Take a look at fit towards New Zealand at Seddon Park in Hamilton, New Zealand

Getty

39/50 1 December 2019

A difficult frost is observed at the first day of the meteorological wintry weather in Pitlochry, Scotland

Reuters

40/50 30 November 2019

A police officer appears at flora left at London Bridge in central London, after a terrorist dressed in a faux suicide vest who went on a knife rampage killing two folks, and was once shot lifeless by way of police

PA

41/50 29 November 2019

College kids and scholars participate within the Early life Strike for Local weather in London as a part of the Fridays for Long term World Local weather Strike

Angela Christofilou/The Impartial

42/50 28 November 2019

Cyclists make their method up a tree coated hill as regards to Moor Crichel in Dorset. November’s dismal climate will in any case alternate, with drier and less warm stipulations coming for the beginning of December, forecasters have mentioned

PA

43/50 27 November 2019

The instant a swan flew over a flock of 60,000 starlings as nightfall fell on Whixall Moss Nature Reserve in Shropshire

Andrew Fusek Peters / SWNS

44/50 26 November 2019

SNP chief Nicola Sturgeon performs with native kids right through a talk over with to the Jelly Toddlers & Cookies Play Cafe in Uddingston, South Lanarkshire

PA

45/50 25 November 2019

Top Minister Boris Johnson poses with sheep as he visits the Royal Welsh Showground, in Llanelwedd, Builth Wells, while at the Normal Election marketing campaign path

PA

46/50 24 November 2019

Cush Jumbo attends the 65th Night Same old Theatre Awards at London Coliseum

Getty Photographs

47/50 23 November 2019

Labour Celebration chief Jeremy Corbyn meets a supporter on a educate on his go back from a talk over with to Sheffield

PA

48/50 22 November 2019

Gallery assistants regulate ‘The Historic The town of Uglich’ by way of Konstantin Yuon, 1913, estimated at £600,000 to £800,000, right through a press preview of the sale of works by way of probably the most maximum pre-eminent creators of Russian artwork at Sotheby’s in London

PA

49/50 21 November 2019

A mom seal seems to hug her puppy as gray seals go back to Donna Corner Nationwide Nature Reserve in Lincolnshire, the place they arrive annually in past due autumn and wintry weather to offer delivery

PA

50/50 20 November 2019

After Mauricio Pochettino’s sacking the eveninfg earlier than newly appointed Tottenham head trainer, Jose Mourinho, takes his first coaching consultation in price

Tottenham Hotspur FC by means of Getty

The shareholder solution is the most recent instance of a rising motion for massive buyers to use power on firms and banks observed as destructive to the surroundings amid mounting fear concerning the weather disaster.

It comes days after Financial institution of England governor Mark Carney mentioned that monetary corporations have been too sluggish to cut back funding in fossil fuels. He warned that many property have been liable to being rendered “nugatory” by way of the weather disaster.

Below Mr Carney’s management, the Financial institution just lately introduced plans to behavior “pressure assessments” designed to forecast how neatly monetary corporations would take care of more than a few long term weather alternate situations. Those who fail to cross the assessments may well be required to carry extra capital or do away with property.

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Jeanne Martin, marketing campaign supervisor at ShareAction, which organised the shareholder solution, mentioned: “The message is apparent. Piecemeal adjustments in power coverage will not lower it. 

“For too lengthy, minor coverage enhancements have supplied quilt for the banking sector, whilst failing to halt fossil gas financing. 

“We all know what must occur. Banks should align their lending with the science. If Barclays helps the Paris Settlement, it’s going to beef up this solution.”

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Barclays’ board does now not need to act in keeping with the solution, even supposing a majority of shareholders vote in favour of it. However it’s more likely to face unwelcome exposure and rising power to switch tack.

Different Ecu banks have begun to take steps to align with the Paris Settlement. In June, French lender Crédit Agricole dedicated to totally section out its publicity to the coal business by way of 2030 for EU and OECD international locations; 2040 for China; 2050 for the remainder of the sector.  

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BNP Paribas dedicated in 2017 to not do industry with firms excited by oil and fuel from tar sands, one of the destructive kinds of fossil gas extraction. 

The financial institution will even not finance tasks which can be principally concerned within the transportation and export of oil and fuel from tar sands. 

Laura Chappell, leader government of Brunel Pension Partnership, which is backing the Barclays solution, mentioned: “Brunel Pension Partnership Restricted believes weather alternate poses vital dangers to world monetary steadiness and may thereby create climate-related monetary dangers to our personal industry operations, portfolios and shopper spouse price range, except motion is taken to mitigate those dangers.”  

“The lending practices of many banks poses a significant risk to the objectives to the Paris settlement. As such, we welcome ShareAction’s name to the sector’s greatest banks to combine weather alternate chance evaluation and to set and expose good enough phase-out goals in reaction. We are hoping the Barclays Board officially helps this solution.”

A spokesperson for Barclays mentioned: “We’re running to lend a hand take on weather alternate, and we meet with Proportion Motion and different shareholders steadily to replace them on our growth.”

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