Barclays has withdrawn from the Net-Zero Banking Alliance, the United Nations-backed coalition of banks committed to aligning their lending and investment portfolios with net-zero greenhouse gas emissions targets. The exit, announced on 1 August 2025, makes Barclays the second major UK bank to leave the NZBA in the space of weeks, following HSBC's departure in July 2025.
Barclays had reported generating £500 million in sustainable finance revenue in 2024.
EARLIER DEPARTURES
Six US banks exited the coalition between December 2024 and January 2025, amid mounting political pressure from Republican officials, who warned that membership could breach antitrust law. HSBC's exit in July 2025 was the first departure by a major UK-headquartered bank.
The NZBA was launched in 2021 as part of the Glasgow Financial Alliance for Net Zero. Members were required to set 2030 interim targets for reducing the financed emissions in their portfolios and to publish regular public progress reports against those targets.
BARCLAYS STATEMENT
Barclays said that 'with the departure of most of the global banks, the organisation no longer has the membership to support our transition', and that it would continue to work with clients on their transition.
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