Barclays said on 29 July 2025 that it generated approximately £500 million of revenue from sustainable and transition finance in 2024, in a Transition Update setting out progress on its climate strategy and restating its ambition to be a net zero bank by 2050.
The bank has facilitated $220.2 billion of sustainable and transition financing since the start of 2023 towards its target of $1 trillion between 2023 and the end of 2030, a goal set in late 2022. Annual volumes were $68 billion in 2023 and $94 billion in 2024, followed by $58 billion in the first half of 2025. Social financing accounted for $107 billion of the total, environmental financing for $74.5 billion, sustainability-linked transactions for $30.8 billion and transition lending and capital markets activity for $8 billion.
Barclays also reported that it has invested £239 million in early-stage technologies considered critical to meeting global climate goals.
FINANCED EMISSIONS
On financed emissions, the bank reported a 45% reduction in upstream energy, ahead of its 2030 target of 40%, alongside reductions of 30% in power, 23% in steel and 9% in cement. Aviation emissions were flat against a 2030 target of an 11–16% reduction, while automotive emissions were up 1% against a target of a 40–64% reduction. Scope 1 and 2 emissions from the bank's own operations have fallen 95% since 2018, beyond its 90% target.
Daniel Hanna, Group Head of Sustainable and Transition Finance, said: “This is something that we’re doing not just because it’s important to our clients, but also because it’s an opportunity that we think we are well positioned to capture on behalf of our shareholders, as well as being a risk to manage.”
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn