ESG & Investing
Barclays Faces Investor Pressure to Halt Fracking Finance
- Church of England is among shareholders pressing UK bank
- ‘Stop funding this damaging and dangerous fuel’: ShareAction
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A group of 24 institutional investors with a combined $1.2 trillion of assets wants Barclays Plc to stop financing fracking, and argued a recent pledge by the British bank to restrict financing for companies that focus exclusively on fossil-fuel exploration and extraction doesn’t go far enough.
The Church of England Pensions Board, Cardano and AkademikerPension are among investors that signed a letter sent to the bank’s board and senior executives laying out the demands. The letter, which was coordinated by London-based nonprofit ShareAction, was timed to coincide with Barclays’ annual general meeting on Thursday.