Despite what they say, Barclays is seriously committed to destroying the climate. In this meeting we'll hear about Barclays' role in the Rosebank oil field, why putting pressure on banks and insurers matters, and have some time to discuss how we can do this in our own campaigns.
Barclays is the 7th biggest funder of fossil fuels worldwide and Europe’s biggest. Since the Paris Agreement that demands urgent and drastic reductions in greenhouse gas emissions that arise from burning fossil fuels was signed, Barclays has given US$ 54.267 billion to key oil, gas/coal companies expanding fossil fuel exploitation, and US$ 166.741 billion to companies active across the fossil fuel life cycle. That’s the most of any bank in Europe.
Barclays are also funding the proposed Rosebank Oil Field by providing stakeholders Equinor with $2.46 billion of backing since 2015. Rosebank contains over 500 million barrels of oil, which if burned would produce the equivalent CO2 emissions of 28 low-income countries combined.
The construction of this oil field would be a complete climate catastrophe.
For people and climate, we must ensure Rosebank’s oil stays in the North Sea.
We’re in a climate crisis. As the world is going off a cliff, Barclays is cutting the brakes. We are therefore targeting Barclays to get them to stop directly financing new oil & gas fields. Join us for an in-person action planning meeting to learn all about the world of fossil finance and discuss creative ways to get Barclays to actually commit to its climate targets.
